superannuation
/ˌsuːpəranjʊˈeɪʃ(ə)n
/noun [mass noun, usually as modifier]
1Regular payment made into a fund by an employee towards a future pension: a superannuation fund...
- Apart from the collection, pooling and investment of contributor funds, superannuation funds also facilitate the flow of capital from surplus units to deficit units in modern capitalist economies.
- They would offer an interest rate that would be guaranteed by the government, say 5% or 6%, and superannuation funds would invest in those bonds.
- The legislation cannot apply to certain state superannuation funds because they are protected from revenue measures under the constitution.
1.1The pension paid to a retired employee who has contributed to a superannuation fund: had he agreed to resign, he would have been entitled to his superannuation for 29 years' service...
- It has to contend with a growing number of people in retirement and a smaller number of taxpayers left to cover the cost of superannuation and other retiree-related expenses, such as health care.
- As of February 1996, some 6 months after separation, he became entitled to superannuation, by virtue of that disability.
- We need to raise retirement ages and means test for superannuation and put some rights and responsibilities back in the hands of the people.
1.2The process of superannuating an employee.