What is superannuation?

Essentially, super is your ticket to a more comfortable retirement. As you wind down your working hours or stop working completely, it provides you with money to turn those long-held dreams into reality. So getting to know more about how super works can really pay off.

Most people’s super grows from their employers making compulsory contributions into their account. But you can also add to your own super, and maybe even score some nice tax benefits along the way.

Why is super important?

On average, Australians are living longer than ever, which means retirement could last 20 or even 30 years. That’s a lot of life to look forward to, so it’s important your savings last the distance. And for many of us, the Age Pension just won’t be enough to fund the lifestyle we’d like in retirement.

That’s why super is so crucial – to enable you to achieve your financial goals once you stop working.

Money goes in

Most employees are entitled to Superannuation Guarantee contributions of 9.5% of their ordinary salary from their employer. This is typically paid into your accumulation account. You can also transfer super from other funds into your LGIAsuper account, making it easier to keep track of things and saving you from paying multiple sets of fees. 


If you’re an LGIAsuper member with a defined benefit account, contributions and calculating the amount you receive in retirement work differently.

Learn about super contributions
saving money goes in

Some comes out

All super funds charge fees to cover the costs of managing their members’ super. Like most funds, we deduct administration and investment management fees from your account to look after and invest your money. You can be confident our fees are among the lowest in the industry and only cover the costs of running the fund.

If you have insurance through LGIAsuper, your premiums also come out of your account.

More about our low fees
money dollar sign

Accessing your super

You generally can't access your super until you permanently retire after reaching your preservation age (which is between 55 and 60, depending on when you were born). You might even have investments outside of super or be eligible for the Age Pension, which can also add to your income in retirement.

Find out how to access your super

Tax benefits

Although the Australian Government takes tax from some super contributions and investment earnings, super is taxed at a much lower rate than other types of investments. From the age of 60, any money you withdraw from your super (as lump sums or regular income) is tax-free. Before then, it’s taxed in different ways depending on when and how you take it.

Read about tax on super

CTA Block Small Image

Get your super sorted

We’re here to make things easy and help you get the most from your super so you can enjoy a better lifestyle in the years ahead.

Join LGIAsuper today Get financial advice
man working

Flexible options to suit you

We offer a range of accounts and features to choose from.

gardening

Grow your super

The more you put in today, the more you’ll have to enjoy later.

mature woman browsing online

Put a plan in place

Our financial advice team can help guide you towards your goals.