HR Glossary

What is Superannuation (Australia)?

Australia's mandatory retirement savings system requiring employers to contribute a percentage (currently 11.5%) of an employee's ordinary time earnings into a regulated superannuation fund on their behalf.

Why it matters in hiring

Superannuation (Australia) comes up whenever teams compare candidates, set policy or report on people data. Getting the definition right keeps decisions consistent, which is the same reason springhire scores every applicant against the same criteria rather than on impression.

Related terms starting with S

• Structured Interview
• Student Loan Deduction
• Subject Access Request (UK / EU)
• Succession Planning
• Superannuation Guarantee (Australia)
• SkillsFuture (Singapore)
• SkillsFuture Credit (Singapore)
• Sentiment Analysis (HR)

Part of the springhire HR glossary, 1,150+ HR, payroll and recruiting terms defined. Free, no signup.