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Meet Luke, one of our specialists.

Supperanuation is important for your future, and to make the most of your super, you need to support from your first job to retirement. Aware Super is proud to provide our members with education, guidance and no additioanl cost super advice^ that can help to empower your financial decisions.

We're one of Australia's top performining funds, and have recently been awarded the Canstar 2022 Outstanding Value Award, so you know we're working hard for our members and their future. 

Before you make a decision about your super, you might like to get to know us a bit more and the ways we can help you. We've prepared a video featuring a member of the Aware Super team, Luke. He'll explain a little more about Aware Super and provide you with some helpful tips to think about.

Making sense of your super

We know that super may seem complicated and overwhelming for some, which is why we are here to help make super simple for you. Our job is to help you get the most out of your super – after all, it’s your money and making small changes today, can make a big difference to your future.

Here’s a few answers to questions many of our members ask us.

An investment option is simply a type of investment that your superannuation fund invests in. Aware Super has 12 investment options – including “high growth, growth, balanced” and also “default”. Like many investments, options have returns and risks associated with them. It’s important to choose an option that suits you. Find out more here.

Most super funds offer insurance in super – including Total Permanent Disablement (TPD), Income protection and Death. Insurance through super can be a very cost-effective way for a member to have this type of insurance as most super funds are able to negotiate discounts on behalf of their members. It’s important to choose a level of cover that best suits you. Find out more here.

Most super funds provide financial advice to their members. This can be “intra-fund or simple advice”, “comprehensive” or both. Intra fund or simple advice can help you understand the basics of managing your superannuation and can include some general advice. At Aware Super intrafund advice is provided at no additional cost.  Comprehensive advice is charged as a fee-for-service and is specific to your financial needs. Find out more about advice here.

Having multiple super accounts can be costly as you are paying additional fees and could even be paying for multiple insurance policies. Consolidating your super into one account could be beneficial over the long term, however everyone’s situation is different, so before consolidating, please check that your insurance in super and tax is not impacted. Find out more here.

Selecting someone to receive your super if you were to die, is called “nominating a beneficiary”. Doing this is important as you’re telling Aware Super who you’d like to receive any super you have[JD1] . There are usually two types, binding (which means your stipulations need to be adhered to) and non-binding (where you grant the trustee of your estate the power to make decisions on your behalf). Find out more here.

How much super you may need when you reach your “preservation age” or your retirement age can be complicated – because it depends on how you’d like to retire. Would you like to retire comfortably, or simply? Understanding how you’d like to retire is important, and the earlier you do, the better off you will be.  Aware Super can help you understand how much you may need using our calculator tools.

Adding additional money to your super or making contributions can be a great way of meeting your retirement savings goals. You may like to do this regularly by setting up an automatic debit through your employer’s payroll provider. Find out more here.

Most employers have a default or super fund of choice that they nominate for their employees who don’t elect a super fund of their own. The default fund needs to comply with a range of requirements by law, so you can be sure it’s a quality provider. If you don’t elect a super fund of your own, or don’t have a super fund yet, your employer will add your contributions to this default fund.

Aware Super is Australia’s second largest super fund and we focus on doing well and doing good – like being a top performing fund# and winning Money Magazine’s Best Super Fund of the Year 2021.

We also take a members first approach with everything we do – like having low fees, so that you have more to look forward to in retirement.

Aware Super focuses on investing responsibly, so that our investments improve our communities, economy and our environment. This means that your super goes to investments that help build a stronger Australia all while providing strong long-term returns.

Aware Super is also proud to provide simple advice or intrafund advice to members at NO additional cost. This means we can help our members make informed choices about their super and get it working hard for them from day one! Find out more about Aware Super here.

Super funds charge fees to cover the general cost of managing your super account. However, some funds charge additional fees for a range of different reasons which can include insurance related costs. The fees that you pay for your super can vary and it’s good to make sure the fees you are paying are competitive. Aware Super is proud to keep its fees low. Find out more here.

Super is primarily designed to fund your retirement. You can access your super early in very limited circumstances, such as severe financial hardship or specific medical conditions.

Accessing super for retirement is dependent on your preservation age and this depends on your date of birth. Currently the preservation date of birth and age is as follows:

  • Before 1 July 1960 - 55
  • 1 July 1960 – 30 June 1961 - 56
  • 1 July 1961 – 30 June 1962 - 57
  • 1 July 1962 – 30 June 1963 - 58
  • 1 July 1963 – 30 June 1964 - 59
  • From 1 July 1964 - 60

Whether you have a full time, part-time or casual job, if you're over 18 and you earn more than $450 (before tax) in a calendar month, your employer is required to pay super contributions for you. If you’re under 18 and work and earn more than $450 (before tax) and 30 hours in a calendar month, your employer is also required to pay you super contributions. 

# Aware Super's High Growth option return over 10 years to 31 March 2023 was 9.41% p.a.  Index median of 8.48% p.a. for the same period. Source:  SuperRatings Fund Crediting Rate Survey (SR50 Growth (77-90) Index) (approx. 50 options). Returns are after investment fees and costs, transaction costs, tax on investment income and any implicit admin fees. Past performance is not an indicator of future performance.

^ Financial planning services are provided by our wholly owned financial planning business Aware Financial Services Australia Limited, ABN 86 003 742 756, AFSL No. 238430