Growing your super

To maximise your super in the aim of having enough money to fund your retirement, you need to add money to your super account.

Super is a long term investment and while investment returns are an important aspect of growing your super, it is important to take action to ensure your super grows sufficiently to reach your financial goals.

  • make personal contributions as every bit helps – and up to $1,000 could qualify for a Government co-contribution (eligibility rules apply).
  • salary sacrifice is a tax effective option for many people – the money is contributed from your pay pre-tax before you can spend it!
  • choosing an investment option to suit your needs – and review this periodically (many people make a choice then forget to adjust it as their circumstances change, and this can have a big impact over time)
  • moving any super into one account may save on fees, time and paperwork – of course, consider exit fees and the loss of member benefits
  • by making contributions into your account for you, your spouse may get up to $540 as a tax offset
  • splitting (moving) some of the employer contributions in your spouse’s account into your account at the end of any financial year

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