Organise your superannuation

How superannuation works

Superannuation is a tax effective way to save for your retirement. Your employer will make contributions to your superannuation fund for you.

You can also choose to top up your fund with your own money.

Taking some time now to learn how superannuation works can help you get the most out of it.

Learn how superannuation works at Moneysmart.

Consolidate your superannuation

You may have more than one superannuation account if you have changed jobs. Moving all your superannuation into one account is known as consolidating. 

Consolidating your superannuation will:

• make it easier to keep track of your super
• save you money as you will only pay one set of fees
• reduce paperwork.

Find out more about consolidating your superannuation at Moneysmart.

Grow your superannuation

There are ways to boost your superannuation before you retire:

• compare superannuation fund fees
• think about your superannuation investment options
• top up your superannuation with your own money.

If you are topping up your superannuation, remember:

• you will pay less tax if you salary sacrifice from your pay
• you may be able to get a tax deduction if you make contributions from your after-tax pay
• low income earners may get a tax-offset or government co-contribution payment.

Learn how to grow your superannuation at Moneysmart.