when did superannuation start in australia

Superannuation in Australia started in various forms in the 1800s, with some early pension funds set up by institutions like the Bank of Australasia in 1842. However, compulsory superannuation as it is known today officially began with the introduction of the Superannuation Guarantee (SG) legislation in 1992, which mandated employer contributions to employees' superannuation funds. Before compulsory super, superannuation was mostly available to certain public servants, white-collar workers, and union members. The system has grown since then to cover most Australian workers, becoming a major part of Australia's retirement income system and economy.