Word: Superannuation Fund
Definition: A superannuation fund is a special account or savings plan that helps workers save money for their retirement. When people finish working (retire), they can get money from this fund to support themselves.
Usage Instructions: - You can use the term "superannuation fund" when talking about retirement savings or pensions. It is mainly used in contexts related to finance and employment. - Example: "Many companies offer a superannuation fund to help employees save for their future."
Example Sentence:"After working for 30 years, Maria is looking forward to enjoying her retirement and using her superannuation fund to travel the world."
Advanced Usage: - In some countries, superannuation funds are mandatory, meaning employers must contribute to them for their employees. - These funds can be invested in various ways to grow the savings over time.
Word Variants: - Superannuation (noun): Refers to the system or act of providing for retirement. - Superannuated (adjective): Describes someone who is retired or too old for work.
Different Meaning: - In a broader sense, "superannuation" can refer to any retirement benefit, not just those in a fund.
Synonyms: - Retirement fund - Pension fund - Retirement savings plan
Idioms and Phrasal Verbs: - There aren’t any specific idioms or phrasal verbs that directly relate to "superannuation fund," but you might encounter phrases like "put away for retirement" or "save for a rainy day," which relate to saving money for the future.