Super is a long term investment – and retirement often seems a long way off. But leaving your super untended until you are about to retire is generally not a wise financial approach.
There are many things you can do to maximise your super – after all, it’s money for YOUR retirement. It doesn’t have to take a lot of time or expertise to manage your super, and our Member Advice team is more than happy to help you.
Some of the regular tasks we suggest you do are:
- make an investment choice, and review it every so often AND when you experience major changes in your life
- review your contribution strategy
- log into AOL periodically and see how your balance is looking – and check the transaction history is as you expect
- ensure you have enough insurance (it is generally cheaper and simpler to have insurance through your super than arrange it yourself)
- get personalised financial advice to keep on track towards your financial goals
- nominate the beneficiaries you want your super to go to if you were to die before accessing it yourself
- keep your account up-to-date – let us know if you change address for instance and make sure we have all your details (including a Tax File Number and email address)
- stay informed about super and your Fund