How can I maximise my super?
You can maximise your super by
- Selecting an investment strategy that will deliver desired growth. Things to consider when selecting a superannuation investment strategy:
- How long you are investing for
- How much you need at retirement
- How comfortable you are with potential ups and downs of the markets
- Your desired investment return
- Making additional contributions
- Salary sacrifice (pre-tax)
- Personal contributions (after tax)
Please note that there are limits on how much can be contributed each financial year.
When can I access super?
You can access your super when you meet a condition of release – generally if you retire and have reached your preservation age
Only in special circumstances, you can apply to access your super early based on financial hardship or compassionate grounds
What happens to my super if I die?
Your super fund normally pays your death benefit to one or more of your dependants or to your estate. Most super funds let you nominate who you want your death benefits paid to, either as a binding or non-binding nomination
If you don't nominate someone, your super fund trustee will decide who your money goes to
A binding nomination gives your super fund trustee a clear instruction as to who gets your death benefit
You can choose whether the money goes to:
- One or more dependants; or
- Your legal personal representative, who must pay out the money according to your will
A non-binding nomination guides the super fund trustee on who will get your super benefits. However, the trustee still has the final say, especially if you nominate someone who doesn't depend on you. The trustee is not required to follow the instructions in your will
It is very important to tell your super fund what you want them to do with your super
A tax effective way to help you save and invest for your retirement
To discuss your superannuation plans with us, get in touch today
