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What does superannuation mean?

Looking for the meaning or definition of the word superannuation? Here's what it means.

Noun
  1. (Britain, Australia, New Zealand) A retirement benefit fund, an accumulation of regular deductions from one′s wage or salary while employed and similar regular contributions from the employer, usually administered by an independent entity; a pension.
  2. (uncountable) The condition or process of being superannuated.
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Examples
To their discredit, neither has cut superannuation taxes significantly or made the super system simpler.
Most employers currently choose the fund into which they pay their employees ' superannuation contributions.
These trends could see future Generation X and Y workers spending more time in positions where superannuation contributions are not compulsory.
And all of this is aimed at propping up the leeching bludgers from the non-industry superannuation sector.
Last week's decision to end the excessively generous superannuation benefits for MPs was correct in principle.
This involves dedicating 8 per cent of taxation revenue to a superannuation fund which is then invested to build a portfolio of financial assets.

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