Almost done, just two questions to go.
Imagine you’ve received some extra cash - maybe from a tax return or a work bonus. Would you consider the benefits of contributing some of that money to your super?
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The difference adding a little extra could make
While retirement feels like it's really far away, even small voluntary contributions today can make a big difference in the future with the power of compounding returns. If it suits your personal situation, adding a little bit extra to your super could have a big impact on your balance for retirement2. Did you know there are two different ways you can contribute?
Two ways to add to super
Before-tax contributions
Before-tax contributions come out of your pay before it’s taxed. Your employer pays this into your super account on top of compulsory super contributions.
After-tax contributions
After-tax contributions are extra payments you can make from the money you’ve already paid tax on, like your take-home salary. You could also qualify for super co-contributions, depending on certain eligibility criteria such as your annual income.
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Important information to consider
- AustralianSuper Snapshot 2023 results
- Before adding to your super, consider your financial circumstances, contribution caps that may apply, and tax issues. We recommend you consider seeking financial advice.