Should I make extra super contributions?

For some of us, the mandatory contributions made by our employer to our super fund are not enough to provide for a comfortable retirement income. It’s worth considering making extra contributions to maximise your superannuation, so you can afford to live the life you deserve later on.

How to maximise your superannuation

There are a few ways you can make extra super contributions. Understanding your contribution options and limits will help you make informed decisions about the best way for you to grow your super.

Salary sacrifice
After-tax contributions

Salary sacrifice

You can choose to ‘sacrifice’ part of your salary and direct it to your super savings instead (sometimes referred to as before-tax contributions). For most people, salary sacrificing is an easy, automatic set-up that could result in a tax deduction too.

On top of boosting your superannuation, your salary sacrificed amount will only be taxed at 15% (often less than your income tax rate). You’ll also reduce your taxable income and potentially your tax payable, making tax return time a little more rewarding each financial year. It’s important to know what restrictions apply before you start.

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After-tax contributions

Making voluntary after-tax super contributions (or non-concessional contributions) is a great way to boost your superannuation balance. Depending on your eligibility, the government could reward your savings efforts with a co-contribution of up to $500.

Limits apply to how much you can contribute to superannuation so make sure you're informed before starting.

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Consolidate your super

If you're with more than one super fund, you're paying more than one set of fees. Managing your superannuation is a lot easier when it's all in the one place. Find and consolidate any lost super with us online - it only takes a few minutes.

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Super contributions

There are a number of ways you can contribute to your superannuation.

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Super investments

When it comes to your super, one of the most important choices you can make is deciding your overall investment strategy.

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Super co-contribution

The super co-contribution is a tax-free bonus from the government to boost your super.

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