Simple ways you can maximise your super
Superannuation is a complicated topic, but it’s one that’s worth getting your head around. By understanding a few different facets of superannuation you can make a big difference to the size of the figure you have to draw from when you retire.
Events like Equip’s Retirement Expo (Melbourne – March 22; Sydney – May 17) are valuable sources of information in regards to understanding superannuation and the different things you can do to optimise your return. In addition to that, we’ve provided a series of handy tips to help you understand how you can maximise your super.
Consolidate your super – many Australians who’ve changed jobs over the years have multiple superannuation accounts that they’re paying fees for without being aware of it. If you’ve changed jobs over the years but forgot to roll-over your super accumulated this could be happening to you too. Many funds provide useful super-finding tools, like Equip’s SuperMatch service that can find lost super with just a Tax File Number.
Consider making voluntary contributions – if you’re still working, and in a position to comfortably do so, it might be time to consider putting a little bit of extra money into your super fund. Small, regular contributions can make a significant difference in the long term and there are a number of ways you can elect to undertake this process. If you’re a low income owner you may also be eligible for a government co-contribution.
Review your investment options – most superannuation funds offer a degree of flexibility in terms of the risk your money is exposed to. Electing to take more risk could potentially generate a higher rate of return and deliver a bigger pot of savings when it comes time to retire. That being said, not everybody is in an ideal positon to take on more risk so it is recommended that you consult a financial advice professional and set out your individual financial goals before reviewing your investment options.
Attend a seminar and understand your options – as we mentioned earlier, superannuation is a complicated topic. Any chance to receive advice from professionals who are experts in the field is invaluable and can really help you get your head around your options at your disposal. Equip for example, is running a retirement expo in Melbourne (March 22) and Sydney (May 17).
The Equip Retirement Expo gives you the opportunity to speak to industry representatives at pop-up booths, discover new tools and products for a happier, healthier retirement and better calculate and compare your super options.
To register for Equip’s Retirement Expo, simply click here.
Equip manages $7 billion of investments for members working across a wide range of Australian industry sectors. This superannuation fund has been providing strong investment performance and has been a reliable provider of retirement benefits for over 80 years.
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