Superannuation Quiz

What is the purpose of the superannuation system?

• To help you save money for retirement

• To increase your monthly salary

• To pay for health insurance

• To cover daily expenses

What is the increase in superannuation percentage from before 1 July 2024?

• 0.5%

• 1%

• 1.5%

• 2%

What is the legal requirement for employers regarding superannuation?

• Optional contribution

• Mandatory contribution

• No contribution

• Contribution only upon request

What is the main benefit of superannuation for employees?

• Immediate cash bonus

• Long-term savings for retirement

• Tax reduction

• Health insurance coverage

How much tax do you pay on the money that goes into your super fund?

• 10%

• 15%

• 20%

• 25%

What does the government do to ensure you save for retirement?

• Offers tax incentives

• Orders your boss to skim a percentage of your wage

• Provides free financial advice

• Matches your contributions

What happens if you do not have a super account when you start a job?

• You will not be hired

• You will be nominated with one

• You will receive a bonus

• You will be fined

What issue do Aussies face with having multiple super funds?

• Increased taxes

• Higher interest rates

• Fees on each fund

• Limited investment options

Which asset class has a range of 0-15%?

• International shares (emerging markets)

• Infrastructure

• Private equity

• Cash

What is the target percentage for international shares (emerging markets)?

• 0%

• 5%

• 20%

• 35%