Superannuation
Superannuation is one of the best ways to save for a comfortable retirement.
Your superannuation savings are made up of contributions made by your employer, however you can choose to make extra contributions yourself.
These contributions are placed into a superannuation fund, which is like a long-term savings plan.
Your super fund will invest your money to help it grow over time, and with the right advice and strategies your superannuation can grow even further. So by the time you retire, you will have accumulated enough money to live comfortably on.
Benefits of Superannuation
- Tax effective – superannuation is generally taxed at a lower rate compared to other investments outside of super.
- Extra government contributions – if you contribute some of your own money to your superannuation fund, the government may make a contribution too depending on your income.
- Large retirement nest egg – thanks to compound interest and long-term investing your superannuation savings could be the largest asset you have in retirement.
Superannuation Australia
In Australia, your employer must contribute 9% of your salary to your superannuation fund.
Most Australians can typically choose which superannuation fund they would like their contributions paid into. You can tell your employer which superannuation fund you would prefer by filling out a Choice of Superannuation form available from the ATO (Australian Taxation Office).
The only people who may not be able to choose their own superannuation fund are those covered by industrial agreements or ‘defined benefit fund’ members.
Superannuation Comparison
Choosing the right superannuation fund is an important decision as it can affect your future retirement savings. This is where a superannuation comparison from a specialist Adviser can help.
The Advisers at Superannuation Direct can help you find the best fund suited to your personal needs. We can also show you ways to grow your super, boosting your final retirement balance to ensure you can live comfortably in your twilight years.
Unlike other financial advisers, we offer bite-sized superannuation advice so you only pay for what you need and can afford. For a free no-obligation discussion please call one of our friendly Advisers on 1300 135 205.
