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Tell us more about "superannuities"

Superannuities

Definition: A superannuation is a retirement savings plan that allows individuals to save for their future retirement, typically over a period of 20-30 years. They are often funded by contributions from employers and can grow tax-free. The amount of superannuation they have built up through contributions can be invested in a range of assets such as stocks, bonds, real estate, and other investments. There are different types of superannuation plans, each with its own features and benefits. Some common


superannuities

Superannuity

Definition: In retirement planning, a "superannuation" is a type of pension plan that provides a guaranteed income for an individual or a group of individuals after they reach a certain age. Superannuities are usually paid by employers and can be invested in a variety of ways to potentially increase its value over time. The term "superannuation" is often used to refer to the retirement savings accounts managed by companies like AIG (American International Group) or Fidelity Investments, which provide superann


superannuity