Almost done, just two questions to go.
Imagine you’ve just had a recent cash windfall. Would you consider the benefits of contributing some of that money to your super?
Explore this topic
The difference adding a little extra could make
Voluntary contributions can be a great way to help grow your super. If it suits your personal situation, adding a little bit extra to your super could have a big impact on your balance for retirement2.
There’s more than one way to build your super through extra contributions. Depending on your situation, you can choose to put a little extra into your super before or after tax.
How you can add to your super
Before-tax contributions
Before-tax contributions
Salary sacrifice contributions come out of your pay before it’s taxed and your employer pays this into your super account in addition to any employer super contributions.
After-tax contributions
After-tax contributions
After-tax contributions are extra payments you can make from the money you’ve already paid tax on, like your take-home salary. You could also qualify for government co-contributions, depending on certain eligibility criteria such as your annual income.
-
Important information to consider
- AustralianSuper data, July 2021 to June 2022.
- Before adding to your super, consider your financial circumstances, contribution caps that may apply, and tax issues. Salary sacrifice may affect some Government benefits and employee benefits. Consider getting financial advice before deciding what’s right for you.