Superannuation funds are an integral part of an individual's retirement plan. They are also known as 'retirement funds', 'pension funds', 'provident fund', or 'employee benefit schemes'. In some countries, superannuation funds are also referred to as '401(k) plans' or 'individual retirement accounts (IRAs)'. Another synonym for superannuation fund is 'super fund'. These funds are either managed by the employer or by the employee themselves. Whatever the name may be, superannuation funds aim to provide financial security to an individual in their post-retirement years. It is essential to plan for retirement and establish these funds early on to ensure a comfortable future.