Definition, Meaning & Synonyms | English word SUPERANNUATION

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Definitions of SUPERANNUATION

1. (UK, Australia, New Zealand) A retirement benefit fund, an accumulation of regular deductions from one′s wage or salary while employed and similar regular contributions from the employer, usually administered by an independent entity; a pension.
2. (uncountable) The condition or of being superannuated; old age or obsolescence.

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Examples of Using SUPERANNUATION in a Sentence

• A pension fund, also known as a superannuation fund in some countries, is any program, fund, or scheme which provides retirement income.
• The Australian Prudential Regulation Authority is the financial supervisor responsible for prudentially regulating the banking, other deposit-taking, insurance and superannuation industries.
• As former Minister of Finance in the previous National government, Muldoon focused on the economic impact of Labour's policies; National's campaign advertising suggested that Labour's recently introduced compulsory personal superannuation scheme would result in the government owning the New Zealand economy by using the worker's money, akin to a communist state.
• A tax file number (TFN) is a unique identifier issued by the Australian Taxation Office (ATO) to each taxpaying entity—an individual, company, superannuation fund, partnership, or trust.
• Paulley continued to serve as Minister of Labour throughout the second Schreyer government, also taking responsibility for the Civil Service Superannuation Act and Public Servants Insurance Act, and (after September 22, 1976) the Pension Benefits Act.
• In 2018, the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry heard that ANZ had failed to accurately verify the living expenses of home loan customers referred to the bank by mortgage brokers, believing that this was the responsibility of the brokers, in spite of a conflict of interest in doing so; and that, due to processing issues, it had charged nearly 500,000 home loan customers the incorrect interest rate for more than ten years, leading the bank to overcharge customers by approximately $90 million.
• Whilst Minister for Finance, Kaputin was instrumental in crafting important legislation to establish Papua New Guinea's private company employees retirement fund, the National Provident Fund, which later became the National Superannuation Fund of Papua New Guinea NASFUND.
• Drawing upon empirical studies of consumption, superannuation and windfall gains they hypothesize that the MPC is close to one out of current income, close to zero for future income and somewhere in between with respect to current assets.
• Participants in the financial system consist of commercial banks, investment banks, finance companies, building or cooperative societies, credit unions, friendly societies, non bank financial institutions (NBFI), superannuation and approved deposit funds, public unit trusts, cash management trusts, mortgage originators, insurance companies, institutional funds investing in and financing debt.
• In Australia, unclaimed money laws provide a one to two year reporting period each year whereby unclaimed bank accounts, superannuation, deceased estate inheritances, insurance, shares, dividends, utility deposits, unpresented cheques and other forms of "unclaimed money" are reported to the appropriate governing body under which the organisation holding the money falls under.
• These include BBC Hardware, Coles Ansett Travel, Coles Group Superannuation Fund, Coles Property Management, Comnet, Fosseys, Grocery Holdings Pty Ltd, Harris Technology, Howard Smith, Katies Fashions, Loyalty Pacific, Masters Home Improvement New Zealand, Morley Shopping Centre, now.
• When TPD Insurance is held in Superannuation, the 'Any Occupation' definition is normally offered as the level of disablement required by Superannuation Law is based on 'Any Occupation.
• For some purposes, however, such contributions are called "reportable superannuation contributions", and for those purposes they are counted back as a benefit of the employee, such as for calculation of "income for Medicare levy surcharge purposes".
• Prior to assuming his present position, Shri Shantanu Roy was Director (Mining and Construction Business) after the superannuation of Shri M V Rajasekhar the predecessor CMD of BEML Ltd since 1 Feb 2021.
• In 2002, the centre was owned 50-50 by the General Property Trust (GPT) and the Government Superannuation Office (GSO).
• The Commonwealth law was part of a wider scheme imposing a superannuation charge on higher-income earners, equalising the tax burden on judges vis-a-vis other high-income earners.
• Easson has served on several top 50 Australian and other boards; his experience includes as a director NSW State Superannuation Board and predecessor boards (1986–1995), the State Rail Authority (1989–1993), NRMA Insurance (1993 to 1996), Macquarie-Goodman Industrial Fund (1994–2003), Barclay Mowlem (1998–2000), InTech (1998–2003), Macquarie Infrastructure Group (1996 to 2007), Kaldor family company boards in apparel, chemicals and office works (1997 to 2004), Metro Transport Sydney (2002–2006), Sydney Roads Group (2006–2007), and the ING Group Real Estate Group in Australia (2004–2012).
• From 1 July 2018, the Australian Financial Complaints Authority (AFCA) replaced the Financial Ombudsman Service (FOS), the Superannuation Complaints Tribunal (SCT) and the Credit and Investments Ombudsman.
• Life insurance premiums paid by a superannuation fund are tax-deductible by the fund from assessable income; while the same premium if paid directly by the individual member may not be tax deductible.
• Post his superannuation from the service as the Cabinet Secretary of India, Chandra was appointed a Senior Adviser in the Prime Minister's Office (PMO), and hence was deemed to have been reemployed into the IAS.
• Additional benefits can be packaged above these limits through novated leasing, meals and entertainment or venue hire (holiday accommodation) as well as personal superannuation contributions subject to Concessional Contributions Caps.
• In particular, locums wishing to make use of the NHS superannuation scheme must use relatively complex claim forms called Locum Form As (for each individual practice every month) and a monthly Locum Form B as a record of all superannuable income from that month.
• David Locke was appointed Chief Ombudsman of AFCA in November 2018 when AFCA commenced operation and replaced the Financial Ombudsman Service (FOS), the Credit and Investments Ombudsman (CIO) and the Superannuation Complaints Tribunal (SCT).
• Plum's superannuation & Pension products continued to operate within NAB Wealth, and now continue within the IOOF since its 2021 acquisition of NAB's wealth business.
• In 1981, Prasada Rao retired from the Bishopric on reaching superannuation and became Coordinator and Director for the Haggai Institute of World Evangelism.

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