Growing your Super

By growing your superannuation you can take steps to make a positive difference to your lifestyle in retirement.

If you are, or have been employed, you should make the most of employer’s contributions by:

• Checking that your employer’s super guarantee contributions are being paid into your fund
• Letting the Australian Taxation Office (ATO) know if you have unpaid super from your employer
• Keeping track of your super and search for any lost or ATO-held super.

To actively grow your super, you can do the following:

• Make an arrangement with your employer to salary sacrifice
• Make you own personal contributions
• Check if you are eligible for government contributions
• Transfer money from foreign super accounts

Your spouse may also be able make a contribution to your super.

There are limits or caps on amounts that can be contributed to your super each financial year.  You may have to pay extra tax if you go over these caps.

For more information go to the ATO website.

Source: www.ato.gov.au