Finance > Superannuation

Superannuation

Welcome to the YOURLifeChoices Superannuation page. We are constantly updating our Superannuation News page with the latest government and industry updates. Did you know there is over $5 billion in unclaimed superannuation with roughly one in two Australians losing out? Keep up-to-date with this and other news to help you make your superannuation go further.

Your essential guide to superannuation

Superannuation Australia Find your lost super
You may think you know where all your superannuation is, but it is possible to lose track of where your SGC went, especially if you’ve had a few employers. Finding your missing super via the ATO’s SuperSeeker may give your retirement savings the boost you need.
www.ato.gov.au

Use your super wisely
While it’s never too early to plan for retirement, you shouldn’t be put off if you’re starting a little later than you would like and don’t have much of a super balance to work with. Independent financial advice can help you make the most of what little retirement funding you have; you just have to find the right planner to suit your needs.
www.nicri.org.au

Income sources in retirement
When it comes time to access your super, there are many ways in which your superannuation balance can be used to fund your retirement. Ensure you know your allocated pensions from your annuities.
www.moneysmart.gov.au

Stronger, simpler super
In December 2010, the Australian Government responded to the Cooper review into superannuation, but what has since happened to those recommendations? Update yourself on MySuper and how a simplified superannuation system may benefit you.
www.strongersuper.treasury.gov.au

Federal Budget changes
The 2012/13 Federal Budget saw the proposed introduction of changes to the current level of SGC, a boost for the superannuation of low-income earners, changes to the concessional tax rate for high-income earners and changes to the concessional tax rate for those over 50. How will these changes affect your super?
www.minister.treasury.gov.au

Get the Government co-contribution
The Federal Government is giving away money to help you boost your superannuation balance. If you make an after tax contribution to your fund, the Government will match it $ for $ up to $1000. There are other criteria such as income limits and work tests, but it’s worth considering if you have a few extra dollars lying around.
www.superguide.com.au

Leaving Australia
Not everyone chooses to remain in Australia forever, but how can leaving the country affect your superannuation. Depending on how long you’ve been here and what your residency status is, you may be able to withdraw your money in a lump sum.
www.australia.gov.au

How much super is enough?
If you want to find out how much superannuation you’ll need to fund the kind of retirement you’re looking to, or if you want to see if super is the most tax-effective investment, then there are plenty of calculators out there which can help.
www.commbank.com.au

Accessing your super early
In the majority of cases, the money paid into a superannuation fund can’t be accessed until you are 55 and even then, there are rules around how it can be paid. Under certain financial hardship circumstances, you can get access to your super, but this isn’t always possible. Read more about how to access your superannuation on compassionate grounds.
www.centrelink.gov.au

All you need to know
Whether you want to get to grip with duper ling, find out the latest superannuation news or what impact legislation changes will have on your money, YOURLifeChoices calls on experts to tell you all you need to know.
www.yourlifechoices.com.au