Moving from Canada

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Moving from Canada

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Old 03-14-2011, 04:28 AM
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Moving from Canada

Hey all,
I'm moving from Canada to Australia in a few months! and I'm trying to do a little research but can't find the information I need. In Canada, with regards to investments throughout your working career you have RRSP's, TSFA's, pension, etc.. Now, in comparing to Australia, which has Superannuation, my question lies in how does that work?

Superannuation to my understanding is just simply cash in a fund that accumulates interest over the years. You cannot invest it or anything?

I guess my question is what does Australia have that compares to 401k's in the U.S or RSP's and TSFA's in Canada? I'm trying to figure out some of this retirement saving - investing information before I jump into things I guess.

I'm going to start investing once I get there, but need to make sure that I know the facts. I'm assuming many of the banks have investing accounts much like North America anyways.

Any information would be appreciated!

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Old 04-10-2011, 06:49 AM
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Join Date: Oct 2010
Location: Wollongong
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Users Flag! From australia

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self managed super


There are many different superanuation schemes.

You can go for low growth, low risk and high growth, high risk and a mixture of inbetween.

you can set up self managed funds where you invest your super money where you choose.

I would look at an Australian investment forum for more info :-)

Last edited by megabuff; 04-10-2011 at 06:50 AM. Reason: speelling mastaks

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Old 05-12-2011, 12:38 PM
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moving to Sydney


I read that you want to move to Australia. About the superannuation in Australia i think you should go with high growth scheme if you are earning 100k or above annually other wise go with low growth scheme.

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