what is superannuation in salary 
superannuation is a retirement fund offered by an employer in australia you and your employer contribute to this fund to help you build enough wealth to fund your retirement the bottom linea superannuation is an employer sponsored retirement account used in australia there are two versions the first is similar to defined benefit plans in the u s where the retiree receives a set amount based on a formula that accounts for time employed average salary and amount contributed the second is an accumulated fund which is similar to defined contribution plans in the u s where the benefit you receive depends on the amount you and your employer contribute and market conditions 