Super annuation Fund, Super Annuation Fund Tax Rules, Super annuation benefit in india, Super annua The word superannuation is normally used as a synonym to Retirement. Superannuation benefit is a Retirement benefit provided by the employer to their employees. In simple terms Superannuation benefit is the pension plan bought by the employer for its employees. Employer contributes a certain amount to a Group Superannuation policy bought for this purpose and at the time of Retirement, the employee starts getting pension depending on the plan variant which employer has opted for at the time of contribution, and also the option that employee may have to exercise at the time of Retirement. Superannuation benefit comes in 2 variants, where the employer decides as to what it wants employees to receive a pension as. It may be a defined benefit plan or a defined contribution plan. | |
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