Your 5 biggest super questions answered

Superannuation is confusing. It’s so confusing that, truthfully, losing tens of thousands of dollars almost seems like a fair price to never think about it. But given that women retire with 24 percent less than their male counterparts, braving complexity and equipping ourselves with the facts and tools to retire comfortably has never been more crucial. So that’s what we set out to do. Future Women’s Tarang Chawla sat down with Mariam Mohammed, co-founder of MoneyGirl; Kara Keys, Chair of Women in Super; Georgie Dent, Executive Director at The Parenthood; and Sharon Blair, Education Manager at HESTA, to answer all our burning super questions. 

What are the different types of superannuation funds? There are three different types of superannuation funds. Private (also known as a retail fund), industry super fund and self managed super funds. To keep it simple, most profits are distributed between private and industry super funds.