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A superannuation benefit is a type of retirement pension that is provided by a company to its employees. It is a scheme designed for the welfare of the organization's workers in the form of a pension plan. A superannuation plan by an organization is also known as the company pension plan.

The superannuation scheme brings many income tax benefits to both the employer and the employees. But to be eligible to avail of these benefits, the organization's superannuation scheme must be approved by the Commissioner of Income Tax, ing to the Income tax slab.

If an employee resigns, then he has an option to transfer his amount to the new employer (provided both trusts are approved). If the new employer does not have superannuation scheme, then he can withdraw the amount in the account (which is taxed ingly) or retain the amount in the fund till the retirement age.

NTSSS is a non-contributory lump sum scheme which provides an employer-financed superannuation benefit at the rate of 3% of salary for each year of service since 1 October 1988.

A superannuation benefit is a retirement benefit offered by employers to their employees. Superannuation is an organizational pension program created by a company for the benefit of its employees. It is also referred to as a company pension plan.