Better luck in the lottery
The first experience of super that many students have after leaving school is bewildering. Juggling different jobs with different employers, they steadily accumulate multiple small, dormant accounts that are soon depleted by fees and insurance premiums.
Anyone aged 18 and over who earns at least $450 a month is entitled to the 9.5% super guarantee (SG) contribution. However, many young workers starting out are left with a jaundiced view of super when their meagre savings are consumed by fees (see “Battle to get a refund”).
Typically, they
