FERNWOOD FITNESS - PULSE eMagazine - Issue#16 - Flipbook - Page 58
How to Make the Most of the Super Boost
There are a few simple steps you can take
to maximise the bene昀椀ts of these changes:
• Check that your employer is paying the
correct Super Guarantee rate of 12 per
cent and that payments are being made
on time.
• Consider making voluntary contributions
if your budget allows. Salary sacri昀椀ce
or personal contributions within the
contribution caps can be a tax effective
way to grow your balance.
• Think long term. Super works best when
contributions are consistent and left to
grow over many years.
• Be aware of contribution limits
and eligibility rules. These can vary
depending on your age, income and total
super balance, so it is worth reviewing
them regularly.
• If you take parental leave or experience
time away from work, understanding
how super applies during these periods
can help you stay engaged with your
retirement savings.
What This Means
for Retirement
Readiness
With higher
contribution rates
and more consistent
payments, many
Australians may
昀椀nd themselves
better positioned for
retirement. According
to Australian
superannuation
benchmarks, people
who own their home
and manage their
super carefully are
more likely to achieve
a comfortable
retirement lifestyle.
While super alone
may not cover every
retirement goal, the
Super Boost helps
put more Australians
on a stronger footing,
particularly when
combined with
informed decision
making and regular
engagement with
their super fund.
