In job descriptions what does + Super mean?

[Guest Woody and Jane]

Hi, we arrive in Adelaide on November 5th and it just can't come quick enough. We're in the process of applying for jobs even though we think it's a little early.

 

In lots of the job descriptions it mentions super after the salary.

 

e.g. $1,000,000 + super + incentives

 

Can anyone tell me what this means?

 

Thanks

 

Woody.

 

PS I could only dream of a salary that high

[Flutterby]

Super = Superannuation which is your pension fund.

 

Salary + super shows that your employer will make a payment of super on your behalf on top of your salary.

[Guest Woody and Jane]

Cool, thanks Flutterby. That reminds me that I have to get my pension transferred to Oz at some point. Maybe when the exchange rate is a little more favourable though.

[Andrew from Vista Financial]

Hey Woody

 

Usually when jobs are advertised they will quote base plus Super, Super has to be paid at minimum 9% of salary which generally includes bonuses ( http://www.tasplan.com.au/forms/Tasplan-Superannuation-Guarantee-form-final-90983.pdf )

 

However some employers do pay in more than the 9%.

 

Just be mindful of jobs being advetised that bundle the whole package, therefore your base would be lower as Super has been included in the advertised salary, only a few do it like this though.

 

Andy