Understanding Superannuation vs. Retirement: What's the Real Difference and Why It Matters?

Ganesh Chavan
Differences between Superannuation and Retirement

By superannuation is meant the act of getting relieved from service upon attaining a specified age, which is prefixed, say, 58 years of age. On the other hand, retirement is also an act of relieving from service but not necessarily due to attaining a prefixed age and shall include voluntary retirement or even compulsory retirement. Though superannuation is also retirement, the latter need not be superannuation.

Difference between Mediation and Conciliation

The main difference between both is that in mediation, the mediator's job is just to facilitate the parties and not to take an active part in the dispute resolution. He can't even suggest the common ground out of his own to the parties, but his job is to provide a healthy and friendly environment for the parties to reach a common ground. However, in conciliation, the conciliator most of the time is an expert and takes active participation in the matter. He can give opinions and suggestions to the respective parties, helping them reach a common ground. Though both lack binding authority in them.

Difference between Salary & Wages

Salary is related to those who do mental work, and wages are related to those who do physical work. Moreover, salary is related to higher-class posts, and wages are related to lower-class people within the organization. Salary is the monetary benefit for the managerial grade and is issued on a monthly basis (mostly). This does not indicate the number of hours worked specifically. Those employees who are on the payroll of the company are entitled to a salary. Wages are monetary and applicable for the labor workforce. This is purely based on the number of days worked, hours of work, quantity of workload, etc. These employees may not be on the payroll and may be part-time employees, contracts, etc.

Differences between Grievance, Disputes, and Conflicts

Grievances mean the complaints or problems expressed by a concerned person or group of people, which could have immediate resolutions many times. If grievances are not solved for a longer time, then it may result in disputes as both parties will have their own say and difference of opinion. Conflicts can be a larger picture of all this background.

Difference between Casual Leave and Privilege Leave

There are various types of leaves. First is Earned Leave or Privilege Leave. The object of earned leave/privilege leave is that an employee should have rest or recuperation from time to time for short spells. There is another type of leave which is called Casual Leave. The object of this leave is to enable an employee to attend to some urgent or unforeseen contingencies.

Difference between Dismiss, Discharge, and Termination of Employees

Discharge: Job separation from services by the employer for physical, mental, or continuous ill health of the employee.
Dismiss: Job separation from services by the employer for misconduct of the employee.
Termination: Job separation from services by the employer or employee under some terms and conditions.

Difference between Working Days & Present Days

Working days mean all working days excluding all weekly and public holidays. Present days mean the number of days an employee has attended the office out of the number of working days. For example, in a company that is 5 days a week, 22 are working days. If an employee, suppose X, takes a leave of 1 day, then the present days of X will be 21 days.
r.k.rada
Hello Ganesh,

Thanks especially for providing a clear idea regarding the difference between 'Superannuation' and 'Retirement'. Keep it up.

R.K. Rada
raghuvaran chakkaravarthy
Dear sir,

You are in the wrong area. This forum is only for EHS professionals. Please take a look before posting.

Thanks & Besafe,
Raghu
hrcanwin
Good to have such a discussion. But please note the following: Only when a feeling of dissatisfaction is expressed in writing does it constitute a grievance. This point is missed out in your explanation.

Salary Vs Wages

Salary is for employees, and wages are for workers. Many legal pronouncements support this simple explanation of the difference between salary and wages.

Your explanation of mental and physical work may not always be relevant. A salaried person is expected to do both physical and mental work, and vice versa.

Thanks,

Dr. Sureshkumar
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