Getting to know your super
Becoming super-literate is not as difficult as you might think. And after all, it's your money, so spend a few moments getting to know it better.
Money goes in
You, your employer and your spouse can pay money into LGsuper. You can also transfer other super accounts to us. We invest your money and it grows with investment earnings. Over time, it can become your most important and exciting financial investment.
If you are a member of a Defined Benefits Fund your account works differently.
Some money comes out
Low fees, great value, quality service. We take out fair administration and investment management fees to look after and invest the money in your account. These fees are low and only cover the cost of running the fund.
If you have insurance cover your premiums also come out of your account.
The upside? Lower super tax
The Australian Government takes tax from employer contributions (including salary sacrifice contributions) and investment earnings. But here's the upside. Super is taxed at a much lower rate than other types of investments to encourage you to save more for retirement.
Tax free at 60
At retirement, your super will start working for you as a regular income or as lump sums. After the age of 60, super is tax free. Before then, it's taxed in different ways depending on when, and how, you take it. Read more about tax...
