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In Australia, superannuation, or just super, is the term for retirement pension benefit funds. Employers make compulsory contributions into these funds on behalf of their employees. Members can also make voluntary contributions subject to limits.
As of 30 March 2022, Australians have AU$3.5 trillion invested as superannuation assets, making Australia the 4th largest holder of pension fund assets in the world. The vast majority of this money is in defined contribution funds.