Your super will be a source of income when you retire. The reality for most of us is, the money your employer currently pays into your super, won’t meet your living costs when you stop working later on in life........
Fortunately, there are simple ways you can get your super savings heading in the right direction, like:”
By sacrificing part of your pre-tax salary, you may be able to save on tax while also saving for your future. If you pay more than 15% tax on your salary, then adding to your super will reduce the tax you pay - which could be as high as 49%.
Two on the menu is an after-tax contribution, which is made using your take-home pay.
If you're under age 65 and want to secure your savings in your account until you retire you can make a lump sum payment to add extra money to your super.
Or set up regular payments in smaller portions – the choice is yours.
And three, depending on your age and income your partner may be able to add to your super and claim a tax offset, or split their before tax contribution with you.
This could be a great option if you’ve stopped working or taking a career break. The earlier you start adding more to your super the better your balance is likely to look as you get ready to retire.
To reach your financial goals, speak to an AustralianSuper financial adviser or give the AustralianSuper customer service team a call today