Superannuation

Getting your Super Sorted

Retirement may seem like a long way off, but putting money into super now is still a tax effective way to invest your money. That’s because some types of contributions you make, and the investment earnings on those contributions, are taxed at concessional rates. Not only is super a tax effective way of saving and investing, but you can benefit from the effects of compounding returns.

Common questions to consider

Some questions you may wish to consider include:

  • When should I start contributing?
  • Should I salary sacrifice?
  • Are there benefits if I contribute for my spouse?
  • Are there benefits in consolidating my super funds?
  • How can I check whether I have any lost super?
  • When should I think about topping up my superannuation?
  • Can I take advantage of the Government’s co-contributions?

How we can help

We can:

  • Review the performance of your current super fund in relation to your goals including how close you are to retirement.
  • Make recommendations about your super arrangements, based on your goals and circumstances.
  • Consider the suitability of¬†alternative funds.
  • Review any insurance opportunities including buying insurance through your superannuation fund.

Super Choice

Many Australians are now free to choose their own superannuation funds instead of automatically becoming members of their employer fund. This is known as super choice, or choice of fund.

But what does it really mean for you and what difference does it make?

Common questions to consider

Some questions you may wish to consider include:

  • What is a choice of fund?
  • Am I eligible to choose my super fund?
  • If I am eligible for Choice, what do I do?
  • If I am eligible for Choice, what should I expect from my employer?
  • What’s in the Standard Choice Form?
  • What funds are eligible Choice Funds?
  • What is a ‘default’ fund?
  • What happens if my employer doesn’t make contributions to the fund I choose?
  • What are my opportunities if I am eligible for Choice?
  • What happens if I don’t make a choice or make an invalid choice?
  • When will my employer start making payments into my Choice Fund?
  • Can my employer reject my choice of super fund?
  • How often can I switch to another super fund?

How we can help

We can:

  • Advise if choice of superannuation fund laws affect you.
  • Review the performance of your current superannuation provider in relation to your goals including how close you are to retirement.
  • Make recommendations about your super arrangements, based on your goals and circumstances.
  • Consider the suitability of alternative funds.
  • Review any insurance opportunities including buying insurance through your superannuation fund.

Providing Super for your Staff

Helping your employees prepare for their financial future is vital and superannuation is one of the key benefits you as an employer can offer your employees.

Corporate superannuation can also provide other employee benefits such as insurance cover (often with automatic acceptance) as well as member services and education.

Common questions to consider:

  • What is the most appropriate superannuation solution for my employees?
  • Is insurance cover provided automatically as part of the plan?
  • Can I maintain my company’s identity while still outsourcing superannuation arrangements?
  • What is a policy committee and do I need one?
  • What is Choice of Fund and how will it affect my employees?
  • Can I pay super contributions electronically and is a clearing house facility important?

How we can help

We can:

  • Review your current superannuation arrangements.
  • Help you establish a corporate superannuation plan that best suits your circumstances.
  • Assist with setting up a policy committee and provide ongoing involvement and support.
  • Provide advice around insurance arrangements.
  • Help you understand and meet your compliance obligations.
  • Provide financial planning services to your employees as members of your corporate super plan.
  • Provide member education and communications.

What to do next:

To make the most of your superannuation arrangements for both you and your employees, contact us today.

Advice and information on this page is intended as a guide for you to consider when thinking about your financial situation. It does not take account of your personal circumstances. Therefore, consider it together with your overall circumstances before making a decision about your financial future. Alternatively, come in and speak with us about how we can help.