Jargon buster



U

Unrecognised leave: Is leave that your employer does not count as good service, e.g. personal reasons (only applicable to Gold State Super).

Untaxed fund: An untaxed fund means that the government does not tax either concessional contributions that you or your employer make, or your investment earnings. Instead of paying tax up front, tax is paid when your benefit is paid to you or rolled over to a taxed super fund.

Unrestricted non-preserved: These are benefits for which a condition of release has previously been met, and may be accessed at any time (subject to your superannuation fund's rules.)

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