If you're working in Australia as a temporary resident you may be eligible for super payments from your employer. If you're over 18 and are working as an employee rather than a contractor then you should be receiving the super guarantee, which is currently 11.50% of your annual earnings.
The good news is there aren't any special or restricted super funds dedicated towards temporary residents. You can choose any open super fund to join to receive your super payments while you're working in Australia. Your employer might have a preferred fund, but you're not obligated to go with their choice of fund if you don't want to.
Once you've chosen your super fund and joined the fund (your employer can help you with this), simply give the account details to your employer so they can pay your super into your chosen fund. You can see a list of options below, or, if you need some help choosing, see our guide on how to choose a super fund.
When you leave Australia you can apply to receive your super money. This is via a payment called the Departing Australia Superannuation Payment (DASP). You need to be a former temporary resident to access a DASP payout.
In order to determine whether you are an eligible former temporary resident of Australia, which is what you need to be in order to claim your superannuation benefits following departure, you should bear in mind the following:
Also bear in mind that you will not be classed as an eligible former temporary resident of Australia if the following applies:
| Response | Male | Female |
|---|---|---|
| AustralianSuper | 28.25% | 19.89% |
| Other | 23.17% | 24.47% |
| Retail Employees Superannuation Trust | 4.07% | 10.71% |
| HESTA | 4.67% | 8.99% |
| Australian Retirement Trust | 8.13% | 8.22% |
| HOSTPLUS Superannuation Fund | 4.47% | 7.07% |
| AMP Super Fund | 6.71% | 3.82% |
| Aware Super | 5.49% | 4.78% |
| Unisuper | 2.44% | 4.97% |
| Colonial First State FirstChoice Superannuation Trust | 4.27% | 1.53% |
| MLC Super Fund | 2.64% | 1.72% |
| Mercer Super Trust | 1.83% | 1.15% |
| Spirit Super | 1.63% | 1.15% |
| Care Super | 1.02% | 0.96% |
| Construction and Building Unions Superannuation Fund (CBUS) | 1.02% | 0.38% |
| Retirement Wrap | 0.2% | |
| Wealth Personal Superannuation and Pension Fund | 0.19% |
If you meet the eligibility criteria as a former temporary resident of Australia and you are looking to claim your superannuation benefits there are a couple of options open to you. If it's been less than 6 months since you permanently left Australia you can apply directly to your super fund. If it's been more than 6 months, you'll need to apply with the Australian Tax Office (ATO).
It is also worth noting that if you left Australia more than six months ago and your unclaimed super has been transferred to the ATO, you will no longer be classed as an active member of that superfund and you will therefore no longer be receiving earnings on your investment. Any insurance cover that formed part of your membership to the superfund will also become invalid when the unclaimed benefit has been transferred over to the ATO.
Use our free superannuation calculator to see your projected retirement balance, and how this could change by switching funds.
Superannuation is the main way of saving for your retirement in Australia. Your superannuation is one big investment portfolio in your name that's managed for you by your super fund.
Active Super is an industry fund with more than 85,000 members that's open to all Australians.
Here’s what you need to know about changing super funds including how to do it, the fees that apply, how long it takes and the pros and cons of switching.
Here’s why it’s so important to consolidate your super, and the steps you need to follow to roll over your super today.
Sunsuper is an industry super fund that meets your needs as you move through the workforce and transition into retirement.
Compare the range of accounts Rabobank offers for established self managed superannuation funds.
A comprehensive review of AustralianSuper, its investment options and how it can help you save for retirement.
Aware Super is a low-fee super fund with 12 different ways to invest including a MySuper option and an ethical investment option.
When you start your first job you'll need to open a bank account, a super fund and understand what your tax obligations are.