Grow your super
Grow your super
Want to live your very best life when you retire?
Growing your super is the answer.
To live the life you really want when you retire, you’ll need to be financially fit and ready for it. One of the best ways to achieve financial readiness is to gradually grow your super over a long period of time.
For most members, your employer contributes a minimum of 10.5% of your salary into your super account each year1, but there are other ways to grow your nest egg.
If you’re looking to educate yourself so you can get ahead, you’re in the right place. You can use Super SA's Super Projection calculator to see if you're on track or the Contributions calculator to see the different before or after-tax contributions could make.
You could also consider consolidating your super.
Ways to grow your super
Also known as a before-tax contribution, salary sacrifice is an agreement with your employer to make super contributions from your before-tax salary. You could lower your income tax while boosting your super at the same time.2
Also known as voluntary contributions, after-tax contributions to super are made using your take-home pay or savings. While putting more money into a tax-effective environment, you could also get a top up from the Commonwealth Government.2
If you’re earning less than $57,016 in the 2022/2023 financial year, you may be eligible to receive an extra contribution from the Commonwealth Government, up to $500.2
Low-Income Super Tax Offset (LISTO)
(Only applies to Super SA Select members)
If you’re earning less than $37,000 each financial year and eligible, the Commonwealth Government will deposit a tax rebate into your super up to $500.
First Home Super Saver (FHSS) Scheme
(Applies to members of Super SA Select and Flexible Rollover Product investors only)
Looking to buy your first home? With the FHSS Scheme3, you have the opportunity to build a deposit within your superannuation account.2
If you’re aged 55 or over, and selling or considering selling your family home, you could consider making a downsizer contribution into your super.
It’s a once-off, after-tax personal contribution from the proceeds of the sale of your home, up to $300,000 as an individual or $600,000 as a couple.
Opening a spouse account
Making contributions to your spouse’s account could make a difference to both of your retirement savings. You may also be eligible for a tax offset.
2 You should seek financial advice before making any decision about your super or your contributions.
3 Subject to eligibility. Available to members of Super SA Select and FRP only.