6 January 2025
As we welcome 2025, it's the perfect time to take control of your super. The new year brings a fresh start and an opportunity to set financial goals. Just like planning for a holiday or a major life event, taking small steps now could make a big difference to your future.
Simple tips for super success in 2025
AustralianSuper Education Manager, Peter Treseder, shares how making a few minutes to clean up your super could mean significant savings in the long term.
‘Decluttering your super is like tidying up your home – it’s all about simplifying things to ensure you’re organised and set up for success. In this case, it’s making sure you’re positioned to build a more secure financial future.’
‘Whether retirement is next year or in the years to come, taking some quick, simple actions now may help set your super up for success and give you more financial freedom in retirement.’
5 tips to declutter your super this year:
-
Check and update your contact details
From popular streaming series to the latest news, staying up-to-date keeps you in the know. It’s the same with super. Having the right contact details helps you stay in the loop and never miss important information.
Check your details through the app or online portal -
Consider consolidating your super1
1 in 5 Australians have more than one super fund.2 Having your super with more than one fund might be adding to your financial clutter and could cost you more in fees. Combining accounts may save on fees, meaning more of your super is being invested with the potential to grow, plus, it makes it easier to manage.
Consider consolidating your super -
Find lost super
Have you worked more than one job? Moved house? Then you may have lost super you may not be aware of. The more super in your account, the more it could grow.
Track down your lost super -
Check your super balance and contributions
Stay on top of your super by using the mobile app to check your super balance, contributions and manage your investment options anywhere, anytime. Keeping an eye on your balance can help you feel confident that you’re on the right path.
Download the mobile app -
Review beneficiaries
Life can change quickly. Reviewing your beneficiary nominations may give peace of mind to you and your loved ones. AustralianSuper now offers non-lapsing binding death benefit nominations, which allows a member to nominate a beneficiary to receive benefits from their superannuation fund, in the event of the member's death. This nomination doesn’t expire and remains in effect until the member changes or cancels it.
Understand beneficiaries
Super success in 2025 could be a few simple actions away. And there’s always more you can do, like using the super projection calculator to see how much super you could have and how long it could last.
Disclaimers
- Before making a decision to combine your super, consider any fees or charges that may apply, and the effect a transfer may have on benefits in your other fund such as insurance cover. We recommend you consider seeking financial advice.
- Australian Tax Office (ATO): Super data: lost, unclaimed, multiple accounts and consolidations, as at 30 June 2024. Released 17 September 2024.