How to grow your super
Set yourself up for a better future today.
Ways to grow your super include:
- Get your super into the one place
- Add little bits more often through contributions
- Choose the right type of investment for you.
Consolidate your super
Having more than one account may mean you’re paying multiple fees and insurance premiums. With one account, you’ll save money in fees and grow your super faster.
Find lost super
You may have super accounts you’ve forgotten about or don’t know about. This could happen if you changed jobs, changed your name, or moved overseas. It takes less than 10 minutes to find your lost super using our online tool.
Add extra money to your super through before or after-tax contributions
- Before-tax contributions
- After-tax contributions
Also known as concessional contributions, these can include:
Employer contributions - also known as the Super Guarantee (SG). This is the money your employer has to pay into your nominated super fund. It’s 11.5% of your salary.
Salary sacrifice - you can ask your employer to set this up for you. Your employer re-directs some of your take home pay into your super account. In this way you can grow your super savings and at the same time, reduce your taxable income.
Benefits
- Pay less tax (the 15% contributions tax in super might be lower than your marginal tax rate)
- Your extra contribution is deducted from your pay through your employer
- Reduce your taxable income
- More super means more compounding interest (investment returns earned on your investment).
How after-tax contributions work
Also known as personal or non-concessional contributions, these can include:
Government co-contribution - if you earn less than $60,400 in the 2024-25 financial year you could be eligible for a government co-contribution of up to $500 when you make a personal after-tax contribution.
Spouse contribution - make contributions on behalf of your spouse and you may receive a tax offset.
Downsizer contributions - over 55 and selling your home?
Personal contributions - add to your super from your take-home pay to grow your balance. You may even be able to claim your contributions as a tax deduction.
Benefits
- You may be eligible for a $500 super co-contribution from the government (depending on your total income)
- You can set up a one-off or recurring contribution at any time
- Claim a tax deduction for eligible personal deductible contributions
- More super means more compounding interest (investment returns earned on your investment).
You may have super accounts you’ve forgotten about or don’t know about. This could happen if you changed jobs, changed your name, or moved overseas. It takes less than 10 minutes to find your lost super using our online tool.
Where to next?
More than just a retirement calculator, My Retirement Planner™ estimates how much you’ll need in retirement based on your current situation and future lifestyle goals. Plus, get a step-by-step action plan.
Supercharge your learning with complimentary on-demand webinars about super, retirement and investments.
Take advantage of simple financial advice over the phone, for answers to any questions about your Aware Super account.