There are a few important things you need to consider when it comes to creating a super strategy that will pay off later.
Make sure your details are all updated
It's important that we have your current contact details so we can contact you regularly with important updates and keep you up to date with your super. To update your details, login to your online account. You should also make sure you’ve provided your tax file number, or you’ll be taxed 49% on concessional contributions rather than 15%.
Take your super with you
If you've recently changed jobs or are about to start a new one, don’t forget to let your new employer know your super details… otherwise you may end up with another super account that you could lose track of. It’s as easy as filling in a standard choice form and giving it to your new employer.
Find your lost super
As at 30 June 2015, there were 1.3 million lost super accounts in Australia with a total value of $13.5 billion - some of it could be yours. We can help you find all your super, simply login to your online account and give us your consent.
Consolidate your super
If you have more than one super account you can bring it all together. Consolidating your super means avoiding paying multiple administration fees that could erode your balance, and reduces paperwork. To consolidate your super, login to your online account and follow the prompts.
Understand how much super you'll need in retirement
The Association of Superannuation Funds of Australia (ASFA) has a Retirement Standard that shows you how much you’ll need to live comfortably or modestly in retirement (ASFA retirement standard). To work out the lump sum you'll need to generate the income ASFA recommends, login to your online account to use our Personal Super Calculator.
Double check that your employer is making the right contributions
If you earn at least $450 per month your employer needs to make super contributions of 9.5% of your salary. Make sure you check if your salary 'includes super' or 'excludes super' to work out how much this amount is.
Consider contributing extra to your super
Making before or after-tax contributions can keep your super growing towards the amount you need for your ideal retirement. To learn more about the benefits of contributing into your super, visit the Boost your super section on our site.