Superannuation simplified: Your comprehensive guide
Welcome to your first step towards mastering superannuation, a cornerstone of financial security for anyone who's worked in Australia. Navigating the complexities of superannuation can seem overwhelming, but it is essential for ensuring a comfortable and stable retirement.
As you delve into the world of superannuation, remember that it's not merely a financial safety net but also a powerful wealth-building tool. Whether you're starting your career or nearing retirement, optimising your super contributions is vital for a fulfilling retirement.
Below, we've created content to navigate you through the fundamentals of superannuation, from choosing the right fund to the advantages of extra contributions. Simply start at the top and work your way down at your own pace.
Get Started
Are you looking to master your superannuation journey? These articles and podcasts will help you get started.
10 min read
Should superannuation be a core part of your financial independence/early retirement plans - or stay on the peripheral?
AUSSIE FIRE EBOOK
By HisHerMoneyGuide
10 min read
7 min read
In this Get Rich Slow Club session, Tash and Ana host Trenna Probert from Super Fierce. If you’d rather skip our summary, you can scroll straight to the episode at the bottom of this page!
FINANCIAL INDEPENDENCE
LONG TERM INVESTING
SUPERANNUATION
By Tash and Ana, Get Rich Slow Club
7 min read
While superannuation may not feel as glamorous as shares or ETFs, it’s a powerful get rich slow tool. In this episode, Tash and Ana cover how and why you should get the most from your super.
SUPERANNUATION
By Tash and Ana, Get Rich Slow Club
8 min read
In this article, we help you answer that question you’ve been wanting to ask: “how much super should I have to retire comfortably?”
LONG TERM INVESTING
SUPERANNUATION
By Oyelola Oyetunji
2 min read
When choosing a super fund to invest your money in, there are a few key points to consider. This article summarises those factors.
SUPERANNUATION
By Oyelola Oyetunji
4 min read
If you're looking to compare super providers, we're going to quote Elvis and say "you've come to the right place". Read on!
SUPERANNUATION
By Oyelola Oyetunji
3 min read
3 min read
Think you’ve lost some of your superannuation? You’re not the only one. Here’s some information to help you find your unclaimed super and reclaim your retirement savings.
FINANCIAL INDEPENDENCE
SUPERANNUATION
By Oyelola Oyetunji
3 min read
A step-by-step guide to consolidating your Super in less than 15 minutes (with pics).
FINANCIAL INDEPENDENCE
SUPERANNUATION
By Kurt Walkom
3 min read
Both ETFs and superannuation can have a place in a long-term investing strategy. But do you understand the differences between the two investment types and what they add to your portfolio?
SUPERANNUATION
By Oyelola Oyetunji
5 min read
You’ve decided you’re going to contribute extra to your super. That’s great. But there are limits to how much super you can contribute to your account. We cover those limits in this article to help you avoid the consequences.
FINANCIAL INDEPENDENCE
LONG TERM INVESTING
SUPERANNUATION
By Oyelola Oyetunji
4 min read
In this episode, Dr. Super – our mystery guest from the super fund industry – answers your questions about maximising super. Read along for the key takeaways or skip to the end for the full episode.
SUPERANNUATION
By Tash and Ana, Get Rich Slow Club
8 min read
Yet to decide whether to contribute extra to super? There are a few factors to consider when making extra contributions to super. This article covers the how, why and what on this topic.
FINANCIAL INDEPENDENCE
SUPERANNUATION
By Oyelola Oyetunji
3 min read
Not sure whether to put your money into your superannuation, shares, or split across both? There are certain advantages and disadvantages to investing in either option, and it’s important to weigh these up before deciding.
SUPERANNUATION
By Oyelola Oyetunji
5 min read
This article provides info to help you determine how much super to pay from your pre-tax income.
FINANCIAL INDEPENDENCE
SUPERANNUATION
By Oyelola Oyetunji
3 min read
This article provides information to help you determine how to calculate the after-tax super contributions you need to boost your super.
FINANCIAL INDEPENDENCE
SUPERANNUATION
By Oyelola Oyetunji
2 min read
Confused about the difference between super preservation age and retirement age? Find the clarity you seek as we explain the two terms in this article.
FINANCIAL INDEPENDENCE
SUPERANNUATION
By Oyelola Oyetunji
3 min read
Are you wondering how to access your superannuation before retirement? While it's difficult, and advised against by many financial professionals, there are specific conditions under which you can do so. Read on to find out more!
SUPERANNUATION
By Nick Nicolaides
4 min read
Considering your super withdrawal options? Got questions about the process? This is a simple, accessible guide to help you figure out how to withdraw your super.
FINANCIAL INDEPENDENCE
SUPERANNUATION
By Oyelola Oyetunji
3 min read
Glossary
Here are some frequently used terms you might see around when studying superannuation!
Account-based pension
A retirement income stream purchased with superannuation funds when you retire or reach preservation age.
Annuity
A financial product that provides a series of payments over a set period of time in exchange for an initial lump sum payment, often used to provide income in retirement.
Conditional release
Certain conditions under which superannuation can be accessed before preservation age, such as severe financial hardship or compassionate grounds.
Concessional contributions
Pre-tax contributions into a super fund, which include employer contributions and salary sacrifice, taxed at a concessional rate within limits.
Contribution caps
The limits on the amount of contributions you can make to your superannuation each year without facing extra tax.
Defined benefit fund
A type of super fund where retirement benefits are determined by a formula based on earnings and the number of years of membership.
Defined contribution fund
A super fund where the retirement benefits are determined by the contributions made to the fund and the performance of the investments.
Earnings base
The portion of an employee's earnings on which the superannuation guarantee contributions are calculated.
First Home Super Saver Scheme (FHSS)
A government program that allows individuals to save money for their first home inside their superannuation fund, benefiting from the concessional tax treatment of superannuation.
Lump sum
A one-off payment from a superannuation fund, usually taken at retirement.
Non-concessional contributions
Contributions made from after-tax income into a super fund, which do not attract a contributions tax.
Preservation age
The age at which you can access your superannuation funds, ranging from 55 to 60, depending on your birth year.
Salary sacrifice
An arrangement where you agree to forego part of your salary to be contributed to your superannuation fund.
Self-Managed Super Fund (SMSF)
A private superannuation fund, regulated by the Australian Taxation Office (ATO), that you manage yourself.
Superannuation
A program for employees to accumulate funds to provide them with an income when they retire.
Superannuation Guarantee (SG)
The mandatory contributions employers must make to their employees' superannuation accounts, currently set at a percentage of the employee's ordinary time earnings.
Superannuation splitting
A process that allows splitting of superannuation contributions between spouses, which can help in balancing super balances.
Tax File Number (TFN)
A unique identifier issued by the Australian Taxation Office (ATO) to individuals and organisations for tax and superannuation purposes. Providing your TFN to your super fund ensures that you're taxed at the correct rate.
Transition to Retirement (TTR)
A strategy that allows individuals who have reached their preservation age to access their superannuation as a pension without fully retiring.