Another Word For Superannuation
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Meaning
Superannuation refers to a long-term savings plan, often provided by an employer or a government, that is intended to fund an individual's retirement. It involves regular contributions during a person's working life, which are then invested to grow over time. Upon retirement, the individual receives income from these funds to support their living expenses.
Synonyms
- Retirement fund
- Pension
- Annuity
- Retirement savings
- Benefit plan
Antonyms
- Expenditure
- Spending
- Consumption
- Debts
Etymology
The word "superannuation" comes from the Latin "superannuatio" meaning "aging" or "to be old," with "super-" meaning "above" and "annus" meaning "year." It reflects the concept of aging, especially relating to one’s ability to earn income.
Examples
- "Many companies offer superannuation as part of their employee benefits package to help ensure financial security in retirement."
- "She was advised to start contributing to her superannuation early to take advantage of compound interest."
- "After years of diligent saving and investing, his superannuation fund allowed him to retire comfortably."
- "The government has made changes to the rules regarding superannuation contributions, impacting many workers."
- "During financial planning, it’s crucial to consider how much you will need from your superannuation in retirement."