It’s time to think about your superannuation …

In the early stages of our working life, we tend not to spend much time thinking about superannuation. Retirement can seem so far away and contributing to our super fund is just something we have to do. Many of us were teenagers or barely into our twenties when we first started contributing to super – and that’s only because we didn’t have a choice!

But the cost of living is increasing and we are facing the increasing reality that the country will not be able to afford adequate government funded pensions.  So, the importance of actively managing your superannuation is critical.

Over the next few months, we will run a series of articles about superannuation:

  • why it is so important
  • the difference between superannuation and other forms of investing
  • when to use a self-managed super fund, and 
  • when to seek advice about your superannuation

Let’s start with the basic definition. Superannuation, sometimes called ‘super’, is a specific (and compulsory) way of saving to provide yourself with an income when you retire. While there are other ways of saving for retirement, superannuation saving is different because it is usually linked with your employment.

Your employer is required to make superannuation contributions on your behalf to your super fund. You can also make additional contributions to your fund which can sometimes result in the government also making extra contributions on your behalf up to a certain limit. The funds accumulated are special because, if they meet certain government rules, they may incur less tax than if you were to put the money in a bank account.

To find out more and to take control of your superannuation, contact one of our friendly advisers who are ready to answer any of your queries. We’re here to assist you in understanding your superannuation and securing your financial future

Why not schedule a meeting with Gerry or Clae now?

Disclaimer:  Information current as at 2 April 2015.  The advice is general in nature only. Before acting you should consider the appropriateness of the information having regard to your personal objectives, financial situation and needs. You should read the relevant Product Disclosure Statement (PDS) and Policy Document before making any decision about a product.