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Our superannuation contributions are totally separate from our potential social security payments upon retirement. We have our superannuation that is paid out on permanent retirement from the workforce (for me, that would be at the age of 55). We can either opt for a lump sum, or an indexed pension, administrated by our superannuation fund.
In addition to this, we can claim the age pension through our social security provider, Centrelink. This pension is income and assets tested, however the income and assets test is quite generous, and many retirees are granted a part pension to supplement their indexed superannuation pension.
In terms of my interest figure, it could possibly be higher, although I have not received my annual superannuation statement for the 03/04 income year. We pretty much have zero inflation at the moment, so whatever interest I receive is good interest.
And you do get annual statements? That's reassuring. What seems to be concerning is the instability of your funds, subject to government needs and wants.
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"Afterwards, the universe will explode for your pleasure."
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