Super helps you save for retirement
Superannuation is a compulsory scheme that helps you save for retirement.
Employers are required to pay a minimum 9.5% of your salary into super. These payments are known as super guarantee contributions and the portion paid is expected to increase to 12% by 2025.
Personal contributions can also be made and used as a tax effective way to grow your super savings. There are government schemes also in place to help boost retirement savings for eligible low income earners.
As your super is likely to be one of your biggest assets in retirement, the choices you make today could signficantly impact your lifestyle in retirement.
Insurance in super protects you now
Today, superannuation offers much more than a retirement savings account.
It offers protection for you and your family in the event of death and temporary or permanent disablement. Income protection cover is also available to support you and your family while you are unable to work due to illness, injury or accident.
As you would protect your car or family home, it is important that you have adequate protection in place for you and your family.