What does superannuation mean?
noun
A retirement savings plan, typically provided by an employer, to help employees save for their retirement. It is often a mandatory or voluntary scheme that allows employees to contribute a portion of their salary to a fund that is invested on their behalf.
Example
"The company's superannuation scheme was one of the most generous in the industry, offering employees a significant contribution to their retirement savings."
Definition generated by AI and curated by RJS Tech Solutions LLP.