News and Views

Super and Women

Women are continuing to retire with less superannuation than men. Lower average salaries than men and a period out of the workforce to raise children both contribute to this issue. This is not something that is easily fixed, but a greater awareness of the importance of looking after and contributing to your superannuation might help.

Some strategies to boost your super are:

• find and consolidate your super into one account
• take an interest in how your super is invested (it's your money!)
• make sure you are not paying more fees than necessary
• salary sacrifice - even just 2% more can make a big difference over the long term
• ask your spouse to split their super contributions with you if you are out of the workforce raising the family
• see if you can access the Government Co-Contribution
• if you are self employed and not receiving the Super Guarantee Contribution from an employer - consider making regular personal concessional (tax deductible) contributions.

Please talk to us if you would like to assess the value of any of these strategies for you.