Having or adopting a child

Having or adopting a child

Having or adopting a child will impact on your finances significantly. Now that you have a dependant, it is important that you review the following aspects:

Checklist for those having or adopting a child

• Review your insurance. You may need to increase your insurance now that you have a dependant. At NGS Super you have guaranteed extra cover for certain life events and can apply for an increase in your insurance without the need to show evidence of your good health*
• Having a child may mean having a significant break in your career. This will have an impact on your income and superannuation balance at retirement. Our Future Super calculator has a "considering a career break" function
• Should you have or adopt a child and decide to work part-time, you may be eligible for the Government Co-contribution
• Consider spouse contributions. Your spouse can top up your super account if you earn less than $13,800 a year

*Within certain limits