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When can you withdraw your superannuation?


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2008-04-26 09:45:41
2008-04-26 09:45:41

When you retire at the designated retirement age, currently at 65 year old.


Related Questions

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The Superannuation Product Identification Number(SPIN) is the standard method of identification for superannuation products within the financial services.superannuation is An organizational pension program created by a company for the benefit of its employees. Also referred to as a "company pension plan"(Superannuation = over aged i.e. those so old they are no longer employed)

Superannuation arrangements, in Australia, are government-supported arrangements made to have funds available in retirement. Employers are required to pay a certain amount of an employees wages into a superannuation fund.

Commonwealth law says that the employer must pay employees a value equal to 9% of their yearly wage into a employees individual superannuation account. Superannuation accounts can only drawn down by the person after a certain age.

There is no specific superannuation calculation for India. The same formulas and calculations used in other countries, also works for this area.

Superannuation refers to a company pension plan and is paid to a retiree. Base pay, when working, does not include any money from the retirement plan.

Hi ! Here is some information on Superannuation Fund. a) Superannuation Fund is a retirement benefit given to employees by the Company. b) Normally the Company has a link with agencies like LIC Superannuation Fund, where their contributions are paid. c) The Company pays 15% of basic wages as superannuation contribution. There is no contribution from the employee. d) This contribution is invested by the Fund in various securities as per investment pattern prescribed. e) Interest on contributions is credited to the members account. Normally the rate of interest is equivalent to the PF interest rate. f) On attaining the retirement age, the member is eligible to take 25% of the balance available in his/her account as a tax free benefit. g) The balance 75% is put in a annuity fund, and the agency (LIC) will pay the member a monthly/quarterly/periodic annuity returns depending on the option exercised by the member. This payment received regularly is taxable. h) In the case of resignation of the employee, the employee has the option to transfer his amount to the new employer. If the new employer does not have a Superannuation scheme, then the employee can withdraw the amount in the account, subject to deduction of tax and approval of IT department, or retain the amount in the Fund, till the superannuation age. Normally Companies do not extend the Superannuation benefits to all employees- but only to a specific category of employees - like for example Level-1 of Managers onwards..

A superannuation fund is another word for a retirement pension fund. It is normal for the employee to contribute towards this and the employees contributions may (or may not) be augmented by a contribution from the employer too. Money you put into a superannuation fund is usually exempt form tax as an incentive to save towards your retirement.

The Australian Retirement Fund allows people who retire after age 60 (if born after 1967, which you would be) to withdraw funds. Over the course of the person's employment, their employer would contribute 9% to the designated superannuation fund. The employee can contribute additional amounts for tax benefits.

8. (a)  superannuation funds are savings accumulated by an individual to fund retirement  many countries are moving into a demographic period of an ageing population  individuals are seriously saving in anticipation of nearing retirement from the work force  further, some countries have introduced compulsory superannuation regimes, or provide taxation incentives to save for retirement (

Withdraw is already a verb. For example "to withdraw from something or somewhere" is an action and therefore a verb.

withdrawwithdraw, take out, remove

What is caffeine withdraw and what does it do to your body?

Hopefully we will withdraw soon.

The word is retreat.

The terms retirement plan or superannuation refer to a pension granted upon retirement. Retirement plans may be set up by employers, insurance companies, the government or other institutions such as employer associations or trade unions. Called retirement plans in the USA, they are more commonly known as pension schemes in the UK and Ireland and superannuation plans in Australia. Retirement pensions are typically in the form of a guaranteed annuity.

The past tense of withdraw is withdrew.

withdraw cash is when you are taking out money dah

The past tense of withdraw is withdrew.

yes you can withdraw without your passbook

withdraw to take out like a negative

Superannuation in Australia -Superannuation in Australia is aimed to give a decent savings to all working people at the tim of their retirement. all employers in Australia are legally bound to give superannuation contribution to full time employees. in ceratin cases, superfunds also offer life insurance as well as investment cover. you can also invest your fund money to gain good benefit from investments. that australian taxation office also offers verious rebates on income deposited into superfund.BBW Accounting Services Pvt. Ltd.http://www.bbw-services.com

No. You can withdraw using your ATM from Qatar but you cannot withdraw a Qatar Riyal. Only Php or USD.

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