If you have enough money that you can choose whether to work or not then this article is possibly not for you. But if like most of us, you need to work and plan to keep you in the lifestyle you desire, then read on.
Tomorrow never comes
Let's be honest, super is easy to procrastinate about. But sorting out your super can mean you have much more money to play with when it comes time to enjoy life after work. So are you someone who needs to get across their super? See how many of these 5 signs you recognise.
5 signs that you need to sort your super and how to do it
- You have a to do list at the start of each year and sorting your super has been a recurring item for longer than your number one goal of losing three kilos (you know what we're saying here).
- When someone mentions super, asks you how many accounts you have, or what your balance is, you find yourself inexplicably needing to lie down. Or watch the new series of Game of Thrones.
- Your paperwork includes unopened super statements from before the interweb was invented.
- Each time you go to log in to one of your super providers you have to click 'Forgot Password' only to then remember you don't even know your Username. So you go do some online shopping instead.
- You change jobs and you're asked to nominate your super fund only you don't know and opt to go with your employers default account (again).
If any of these sound familiar, you probably need to sort out your super. Here's how:
Find your lost super
It's easy to find lost super. The Australian Tax Office (ATO) offers a free service, to uncover any super accounts that may have got forgotten about. Check it out here. You can also visit any Westpac Group branch and ask for a free super search.
Combine your super
Take it with you
Most super funds have a downloadable form that you can print off to submit to your employer letting them know that you want your super paid into your existing fund rather than your employer's nominated fund. This way all of your super is kept in the one place and you maximise the benefits.
So what are you waiting for? Get your super sorted today. Then you can get back to Game of Thrones with a clear conscience!
This information is current as at 16/02/2015.
This information has been prepared without taking account of your objectives, financial situation or needs. Because of this you should, before acting on this information, consider its appropriateness, having regard to your objectives, financial situation and needs.
Diana Saad is a representative of Westpac Banking Corporation ABN 33 007 457 141 AFSL & ACL 233714.
For illustrative purposes only. Based on a real life examples.