What is a Superannuation Fund?
Superannuation is the government pension scheme in Australia. Generally if you’re earning more than $450 per month in Oz, your employer is required to contribute the equivalent of 9.5% of your income to a superannuation fund for you. Your employer pays this contribution in addition to your wages. There are some exceptions; for full eligibility criteria, ask a member of the Working Holiday Super Team or check out the full criteria on the ATO website.
Superannuation funds are also referred to as super funds.
What’s a superannuation membership number?
This is the number of your superannuation account. Your employer will need it to pay your super into your account. Once we’ve set you up, we’ll provide you with a membership number for your super fund. This will be available to view in the member portal.
How do I start paying into a superannuation fund?
All you need to do is to open a Working Holiday Super account and we’ll get you set up. We’ll gather some details from you like, for example, your TFN and entry date into Australia. Once we’ve set you up, we’ll provide you with a membership number. This number should be given to your employer so they pay into the right fund.
I’ve changed jobs. Do I need a new super fund?
No, you can take your super account with you . You simply need to give your new employer the details of your account. We can help with this by giving you a pre-filled form to give to your employer. Having just one super fund could potentially save you money on fees and it makes it easier to withdraw when you leave Australia.
I want to transfer my other super contributions into my Working Holiday Super fund. Is this possible?
Yes. When you join we can help you track down any other super accounts that you have in Australia. Consolidating your super into one account could potentially save you money on fees and makes it easier to withdraw when you leave Australia.
Can I claim my superannuation contributions back?
If you’ve worked in Australia as a temporary resident you may be eligible to withdraw your superannuation money when you leave Australia permanently1. We can help you organise your withdrawal. Ask a member of the Working Holiday Super team or check out the full eligibility criteria here.
How much money will I get back?
The amount you get back depends on several factors such as the value of the contributions made by your employer and the type of fund you paid into.
The amount of superannuation you can claim back is subject to the administration and insurance fees of your superannuation fund scheme, as well as a withdrawal tax deducted by the Australian Government.
I worked in Australia several years ago – can I still claim my superannuation refund?
Yes. You can claim your superannuation refund provided you’ve left the country permanently and your visa has expired.
Why use Working Holiday Super?
People choose our service because:
• Competitive fees
• Our super account is specially designed for working holidaymakers.
• Our team is very friendly
• Our service is fully transparent
• We make it easy to apply for a refund