Super rules

For a system that’s simply meant to provide Australians with retirement income, there is nothing simple about superannuation.

There are rules for everything. From how much money you can put in to how and when you can take it out. There are rules governing how much you can have in super before being penalised, and rules relating to tax, death and divorce.

Yes, it’s a chore. But as super remains the most tax-effective vehicle for retirement savings, it’s worth knowing the rules and making the most of them.