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There are a number of things you can do to maximise your superannuation.  One is to make sure you are being paid the Super Guarantee. This is the minimum amount your employer must contribute to your super fund. You should speak to your employer if you are not being paid the Super Guarantee.  You can also make additional contributions to your super fund. This can be done through salary sacrificing or making personal contributions.  You Read more…

In Australia, superannuation is a long-term savings plan to help you financially in retirement. You can start paying into your super from the day you start work. In most cases, your employer will pay money into your super account (called the Superannuation Guarantee). The money in your super account can’t be accessed until you reach what’s called your ‘preservation age’. When you reach preservation age (currently, between 56 and 60, depending on your date of Read more…

When it comes to superannuation, there are a range of investment options available. From low-risk options such as cash and fixed income, to higher-risk options such as shares and property.  Most super funds allow you to choose between ‘Pre Mixed’ investment options. The default option typically being ‘Balanced’ which invests across a range of investment assets, including shares, property and cash. ‘High Growth’ which has a larger investment in shares, and ‘Stable’ which focuses on Read more…

When it comes to retirement planning, there are a lot of terms and concepts that can be confusing. In this series, we’ll help demystify some of the key terms you need to know. Rollover: This is when you move move your superannuation from one fund to another. This could be to cosolidate your super into the one account, or once you reach your preservation age, you choose to rollover your super into an account-based pension. Read more…

Retirement planning is not just about money. It’s also important to consider your health and wellbeing in retirement. This includes making sure you have adequate insurance cover, as well as planning for activities and hobbies that will keep you physically and mentally active. Planning for healthcare costs in retirement is an important part of financial planning for your later years. Women, in particular need to be aware of the potential costs associated with health care Read more…

Your super is there to help you live a comfortable retirement. The government guarantee (known as the Superannuation Guarantee) means that your employer must make regular contributions to your super account – currently, they must contribute 10.5% of your salary. You can also make your own contributions, and many people do. After all, the more you have in your super account, the more comfortable your retirement will be. But how much do you need? Well, Read more…

When it comes to retirement planning, there are a lot of terms and concepts that can be confusing. In this series, we’ll help demystify some of the key terms you need to know. MySuper: MySuper is an Australian government initiative that aims to provide Australians with a simple and low-cost way to invest their super. It’s often offered by your employer as the default investment option for your superannuation contributions. Preservation age: This is the Read more…

What are the best strategies for women? When it comes to retirement planning, women often face unique challenges. They tend to live longer than men, which means their retirement savings need to last longer. They also tend to take career breaks to care for children or elderly parents, which can put a dent in their superannuation balances. Aside from superannuation, it’s also important to consider other retirement savings options, such as investing in property or Read more…

Superannuation is a system in Australia that provides for retirement savings. The mainstay of the system is the Superannuation Guarantee (SG), which is the minimum amount that employers must contribute to their employees’ superannuation. However, employees can also make voluntary contributions to their super. The current Super Guarantee rate is 9.5% of salary. This rate is set to increase gradually over time, with the aim of eventually reaching 12%. The money in your super fund Read more…

When it comes to retirement planning, there are a lot of terms and concepts that can be confusing. In this series, we’ll help demystify some of the key terms you need to know. Industry fund: An industry fund is a type of superannuation fund that is run by a particular industry, such as healthcare or manufacturing. These types of funds usually have lower fees than retail funds, and may offer other benefits such as discounts Read more…