Grow Your Super

Super is a long-term savings plan designed to help you save for retirement. There are several  things you can do to grow your super savings.  It’s not just about contributing more, it’s also about making the most of what you’ve already saved.

Five ways to maximise your savings

1.  Provide your TFN

If you don't give us your Tax File Number (TFN) you will be paying too much tax - up to 46.5% of your employer's contributions. We won't be able to accept personal voluntary contributions from you and this means you may miss out on the government co-contribution.

2.  Consolidate your super

Having more than one super account is not only a hassle, it costs you money. Find out how you can benefit from consolidating your super into one fund.

3.  Make voluntary contributions

Making extra contributions from your after-tax pay is a great way of growing your super. It doesn’t need to be a lot – just a few dollars from each pay can really make a difference.

You may also be eligible for a co-contribution from the government.

4.  Government co-contribution

If you earn under $61,920 a year and make after-tax voluntary contributions, you may be entitled to a co-contribution from the government. This could mean up to $1000 extra per year in your super account.

5.  Salary sacrifice

Salary sacrifice is an arrangement between you and your employer in which contributions are taken out of your pay before income tax is deducted. Depending on how much you earn, this can be a tax-effective way of topping up your super.