superannuation
soo-per-an-yoo-AY-shun
/ˌsuːpərˌænjuˈeɪʃən/
A regular payment made into a fund by an employee toward a future pension; also, the state of being retired.
This is the standard term for retirement funds in Australia and New Zealand, and is used formally in the UK.
The story behind the word. From the Latin 'super' (beyond) and 'annus' (year). It literally means being 'beyond the years' of active service or work.
Word relationships
- pension: More common globally; superannuation often refers to the specific system of saving.
Commonly confused with
- annuity: Superannuation is the fund you build; an annuity is a way you might choose to be paid from that fund.
Word family
- superannuated (adjective): Retired or ineffective because of age.
Collocations
- superannuation fund
- compulsory superannuation
- superannuation guarantee
Example sentences
- "The government increased the compulsory superannuation guarantee to help citizens save for the future." Australian Finance
- "He lived a life of quiet superannuation, tending to his garden and his books." Formal Prose
Memory hook
'Super' (extra) 'annu' (years) means you've worked 'super' many years and can now stop. Beyond the working years.
When not to use
In the US, 'pension' or '401(k)' is used instead; 'superannuation' will sound very foreign or overly formal.
Fun facts
- In older literature, a 'superannuated' clerk was a common character type—someone too old for their job but still hanging on.
Explore more words
superannuated, gratuity, expat, salary, resignation, overtime
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