Superannuation Mackay & Brisbane
Superannuation – all workers have it. But why is it important to be engaged with your super? Alman Partners can help you build a brighter future with our expert superannuation advice. Australia is one of the few countries in the world to have a three-tier strategy for retirement funding. Australian retirees generally rely on a mix of personal savings, a government pension (such as the Age Pension) and superannuation.
With a population shift occurring (meaning fewer taxpayers to support more retirees) and longer average life expectancy, the government pension will be placed under even more strain moving forward. This means getting involved with your superannuation is an important strategy for funding your retirement. The super system can be quite complex and seeking superannuation advice from a professional is money well spent.
What is Superannuation?
The Australian Superannuation system is a tax-effective savings vehicle designed to ensure you have an income in retirement (along with personal savings and, if required, a Government Pension). It is compulsory for most employers to pay super to their workers, referred to as the Superannuation Guarantee Contribution (SGC). These funds are generally only accessible once an individual has reached their Preservation Age. Ensuring your super is optimising returns early on is important.
How can I increase my super savings?
Superannuation can be quite complex. There are many things to consider but there are steps you can take to help boost your savings. One area that is often overlooked is the investment option, with many still sitting on ‘default.’ To understand which investment option is right for your circumstances while considering contributions, caps, taxes, age till retirement and legislation changes, talk to our experienced Financial Advisers to get your super working for you.
What other areas do you consider for Superannuation strategies?
- Salary Sacrificing
- Spouse Contributions
- Self-Managed Superannuation
- First Home-Owners Super Scheme
- Non-Concessional Contributions
- Small Business Retirement Exemptions
- Tax-Free Pension Payments
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