There are a few easy ways to increase your super:
Find your lost super - It’s estimated that one in every three workers has some lost super. A lost super search will find if you have some super from another employer sitting there waiting to be found. Once you have located your lost super, you can consolidate it into one super account.
Consolidate your super - If you have worked for more than one employer, chances are you have more than one super account. Consolidating or rolling over your super into one account can reduce the number of fees you currently pay and makes it easier to keep track of and manage your super affairs.
Top up your super - Topping up your super from your own money is generally an attractive investment and you may receive tax concessions and other government benefits for doing so.
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Make extra (Salary sacrifice) pre-tax contributions - Salary sacrifice is an agreement between you and your employer to contribute an additional portion of your future salary into your superannuation account. The ‘sacrificed’ portion goes directly into super and is not subject to your marginal income tax rate up to 46.5% including Medicare Levy), but is taxed at the contributions tax rate of 15%.
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Take advantage of the Government Co-contribution - The government’s co-contribution applies to all eligible people earning less than $58,000 pa. The government will match your personal contributions to super, up to a maximum of $1,500 pa. Read more about the Government Super Co-contribution |