👉 In the context of accounting and finance, "superannuation" refers to a type of retirement savings plan where employees contribute a certain percentage of their earnings into a defined contribution (DC) fund or an annuity. The funds are invested in a diversified portfolio of assets, such as stocks, bonds, real estate, or other investment options, with the goal of providing income and growth over time. Superannuation plans can be either defined benefit (DB) or defined contribution (DC), depending on
