In an accumulation superannuation fund:Question 9Select one:a.the employee is promised an allocated benefit based on earnings and years of serviceb.if the funds in the plan exceed the promised amount, the excess remains with the issuing firm or institutionc.superannuation income varies depending on how well the plan's investments have performedd.all of the earnings' taxes are paid by the employer

An accumulation superannuation account ____________.A.can generate defined benefitsB.is producing a lump sum that is defined by the wages in the last years of workC.can pay a lump sum at retirement whose value can be calculated well ahead of retirementD.releases fully its balance to the account owner at the time the employee decides to stop working and is at or older than the preservation age.

Interest and dividends on super fund's investments areA.regularly paid out to the employees' bank transactional account.B.paid to the employers.C.are reinvested in the account following the account owner's declared investment strategy.D.taxed at 15% if the income was generated on investments bought with concessional contributions.

The lump sum that an accumulation super account that was always and entirely invested in shares will pay to an employee at the time of his/her retirement will be the result of  _______________.You can select more than one answer.A.past dividends of these sharesB.average salary over a few years before retirementC.contributions made over the working life by the employerD.contributions made over the working life by the employee

The Superannuation system in Australia consists of: (a) mandatory Superannuation contributions (b) concessional taxes on Super contributions (c) all of the other answers* (d) concessional taxes on earnings in Super funds

The Super Guarantee paid by an employer to their employee's super fund account isA.tax free.B.part of concessional contributionsC.taken from salary before tax.D.a part of the gross salary of the employee