Superannuation Fund (Noun)
Meaning
A fund reserved to pay workers' pensions when they retire from service.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The company contributes a certain percentage of each employee's salary to a superannuation fund to ensure their future financial security.
- Many employees view the superannuation fund as a long-term investment and a crucial part of their overall compensation package.
- The government has introduced new regulations to ensure the transparency and accountability of superannuation funds managed by private companies.
- Young workers often underestimate the importance of contributing to a superannuation fund, only to regret it later in life.
- A superannuation fund provides a steady income stream to retired workers, allowing them to maintain their standard of living after leaving the workforce.