Introduction

Most people, when asked about retirement, will tell you they’re looking forward to it. However, for many women, the approach of retirement is viewed with uncertainty.

In recent times a spotlight has been shone on the gender pay gap, resulting in greater awareness of women’s conditions in the workforce. Yet we’re still overlooking how lower wages translate into a retirement savings gender gap.

Fact: 40% of single retired women live in poverty.

Introduction

The super guarantee (SG) is the minimum percentage of ordinary earnings that employers must contribute to superannuation for their eligible employees.

After years being stuck at 9.5% the SG rate is on the move again. It increased from 9.5% to 10% on 1 July 2021, and will increase by a further 0.5% each year until it reaches 12% from July 2025.

Introduction

If the ins and outs of superannuation leave you confused, the answers to these frequently asked questions will help you understand the basics.

Introduction

Superannuation statements. Boring, right? But if, like many people, you toss your annual super statement in a drawer or hit delete, you could be depriving yourself of many thousands of dollars just when you need it. So it’s worth the small effort to take a closer look at your superannuation statement. If everything is in order, you’ll get a warm glow from watching your nest egg grow. Conversely, a quick check of your statement may reveal some of the common problems that occur with super; and the sooner these are fixed the quicker your savings can increase.

What to look for

Introduction

Despite frequent changes to its governing rules, superannuation remains, for most people, a tax-effective environment in which to save for retirement. Here’s a quick Q&A on the what, why and how of contributing to superannuation from this point on.

A successful super contribution strategy can mean the difference between looking forward to retirement and dreading it. This article is provided as an overview. Super is a complex area and further rules apply in some situations. Getting things wrong can be costly so talk to your qualified financial planner, and get the right advice on the best ways to boost your super.

Introduction

If you pay close attention to the value of your superannuation fund, and if, like most people, your money is spread across the main investment classes, you would have noticed that your retirement savings can both rise – and fall - in value. This can lead to some nervous times, particularly if you are close to or already in retirement.

What causes these ups and downs and can you do anything about them?

Introduction

Introduction

The Superannuation Co-contribution Scheme started in 2003/04 to encourage us to make personal contributions to superannuation. It was targeted at low to middle income earners and has been improved progressively since then.

In 2019-20, more than 393,000 Australians claimed over $122 million in co-contributions. A lot of people are taking advantage of this opportunity.