Super contributions and consolidation
Contributions can come from a number of sources and are usually either made from pre-tax pay (e.g. the money your employer puts into super or a salary sacrifice) or money you put in from your take-home pay.
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What are contributions?
Contributions to your super can be made by you, your employer, your spouse or the Government.
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What is consolidation?
If you’ve had more than one job in your life, chances are you have a few super accounts. Consolidating your super is about finding all your super monies and moving them into one account – so you can get clear view of how much super you have and really start to make your money work for your retirement.
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Will my employer contributions be enough?
9% – or almost a tenth of your salary – may seem like a lot but it may not be enough to retire comfortably....
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How can I grow my super investment?
If you think your super is looking a little on the low side or just want to ensure a better standard of living when you retire, there are some things you can do to build a healthier balance.
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How do I take advantage of the Government co-contributions scheme?
If your total income is less than $61,920 (2009/10) and you make after-tax contributions to your super, you may be eligible for a Government co-contribution.
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For most BT Funds there is no charge for accepting rollovers; however some funds may charge fees for accepting rollovers. Therefore you should check the relevant fund PDS to see whether any rollover fees will apply. You should also check with your other fund/s to determine whether there are any exit fees for moving your benefits, or other loss of benefits (e.g. insurance cover).
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