the.com/superannuation
Money you can't touch, growing quietly so future you doesn't hate present you.
means A retirement savings fund that employers (and often you) pay into regularly, locked away until you're old enough to legally need it.
from Built from Latin 'super' (beyond, over) plus 'annus' (year), via the older verb 'superannuate' — to put someone out to pasture for being too old or outdated. It first described retired people and obsolete things before narrowing, by the 20th century, into the specific financial sense: the fund that pays you once you've officially aged out of the workforce.
- origin
- latin for over the years, fittingly slow
- australia
- mandatory employer contributions since 1992
- psychology
- out of sight, out of impulsive spending
- catch
- locked away until retirement, no exceptions for yolo