What is super?

Super is a way to save for your retirement which is, in part, compulsory. It's a long-term investment and is designed to provide you with a nest-egg to help you fund your retirement.

Ordinary times earnings (OTE) are what you’re paid for the usual hours you work. It generally includes things like annual leave and most bonuses, but not overtime.

You can think of super as an asset – like a home you may own – because it holds value that could grow over time. In fact, super could well be one of the biggest assets you will ever have.

Over time, contributions paid to your super can help increase the amount of money you can use when you retire.

An employer usually has to contribute at least 9.5% of your ordinary times earnings into your super under Superannuation Guarantee (SG) legislation. Depending on your UniSuper membership, your employer may contribute more.

This money is managed by a super fund (like UniSuper).