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Grow Your Super

Giving your super a boost by making extra personal contributions to your REST or Acumen account is one way to help ensure you have as much money as possible in retirement. Learn more about:


Contributions calculator  What type of contribution suits you? Explore contribution options with our contributions calculator.


After-tax contributions

'After-tax' super contributions are personal contributions you make from your take home pay, that is, after your income tax is deducted from your salary. It doesn’t need to be a lot – just a few dollars from each pay now can make a real difference later.
 

 Government co-contribution

If you're eligible, you could also receive a co-contribution where the government will match you dollar-for-dollar to a maximum of $500 for the 2012-13 financial year or after.

You can make payments into your REST or Acumen account via: 

BPAY BPAY®
Make one-off or regular contributions from your bank account.
Your unique biller code and reference number are available in MemberAccess or on your member card.

MemberAccess
             
Direct debit Direct debit
Organise regular payments from your bank account or financial institution.

Direct debit form            

 
Payroll deduction Payroll deduction (after-tax)
Ask your employer to make regular payments from your after-tax pay.


Payroll deduction form
 
Cheque/money order Cheque/money order
Make your cheque payable to Retail Employees Superannuation Trust.

One-off payment voucher         
           

  

Spouse contributions

Your spouse can help you save for retirement by making contributions on your behalf. If you are not earning an income, or if your salary is less than $13,800, your spouse may also receive an 18% income tax rebate for contributions up to $3,000 per year.
 

Spouse contributions Spouse contribution payment
Make a spouse contribution into your REST account.
           
Spouse contribution form          
           

Contributions cap (after-tax)

After-tax contributions, also called non-concessional contributions, are tax-free up to a limit of $150,000 per year. If you are under age 65, you can contribute up to $450,000 in after-tax contributions in one year by bringing forward two years' worth of contributions.

Contributions exceeding these limits will attract an 'excess non-concessional contributions tax' of 46.5%.

Before-tax contributions

Salary sacrifice

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

Salary sacrifice Salary sacrifice (before tax)
Arrange with your employer to set up regular salary sacrifice payments. 

Salary sacrifice form           
           

Before-tax contributions, also called ‘concessional contributions’, are taxed at 15% and include both salary sacrifice payments and the compulsory super contributions
your employer makes.

The cap on concessional contributions is $25,000 per financial year. If you’re aged 60 or over, from 1 July 2013 the cap on concessional contributions is $35,000 per financial year. Concessional contributions made in excess of these limits will attract extra tax.
 

 

Need advice?

If you would like advice on how to aim to maximise every dollar you put into super, you can get in touch with Money Solutions* on 1300 300 778 or complete this online form and have Money Solutions contact you.

We will pay for advice about members’ first single, super related question over the phone with Money Solutions (subject to superannuation law).
 

® Registered to BPAY Pty Ltd ABN 69 079 137 518
* Money Solutions Pty Ltd (AFSL 258145). Money Solutions personnel are not representatives of the Trustee. Any financial product advice given by Money Solutions is provided under the Money Solutions AFSL. The Trustee does not accept liability for any loss or damage incurred by any person as a result of using products or services provided by Money Solutions.

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Page last updated on: 10 Apr 2014

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