Superannuation & Retirement
Benefits
Why is super needed?
When should you start thinking about super?
Is everyone entitled to super?
Why super is a great way to save
The Government co-contributions
Spouse contributions
Finding your lost super
Consolidating your super
How to consolidate your super
When can super be accessed?
When am I eligible?
What happens to your super if you die?
Who is regarded as a dependant?
What happens to super in divorces and separation?
Open Why is super needed?
Why is super needed?
The main purpose of super is to help people save and invest during their working life, so that they will have enough money to fund a comfortable retirement.
Open When should you start thinking about super?
When should you start thinking about super?
The earlier the better. It sounds obvious, but the longer you leave your retirement planning the more difficult it is to catch up. The earlier the better.
Open Is everyone entitled to super?
Is everyone entitled to super?
If you’re an Australian employee who earns $450 or more a month, the Superannuation Guarantee rules apply to you.
Open Why super is a great way to save
Why super is a great way to save
There are a number of reasons why super is the best way to save for retirement.
Open The Government co-contributions
The Government co-contributions
A scheme has been introduced in which lower to middle income earners who make personal contributions to superannuation could receive the benefit of a government co-contribution into their super account.
Open Spouse contributions
Spouse contributions
A tax offset is available for contributions made on behalf of an eligible spouse where certain criteria are satisfied.
Open Finding your lost super
Finding your lost super
The Australian Taxation Office (ATO) provides a free service called 'SuperSeeker'
Open Consolidating your super
Consolidating your super
By consolidating your super, you can benefit substantially.
Open How to consolidate your super
How to consolidate your super
If you want to know how to consolidate your super, simply gather the following details for your other super fund investments.
Open When can super be accessed?
When can super be accessed?
Recent changes to Government legislation means that you can now access
your super once you've reached your 'preservation age'.
Open When am I eligible?
When am I eligible?
Eligibility depends upon whether you’ve reached your 'preservation age' as
you can see in the table below.
Open What happens to your super if you die?
What happens to your super if you die?
If you die before you retire, your super benefits will be available to your estate or
nominated dependants as a lump sum or an income stream
Open Who is regarded as a dependant?
Who is regarded as a dependant?
Your spouse and children (of any age) are automatically regarded as dependants under super law.
Open What happens to super in divorces and separation?
What happens to super in divorces and separation?
The law has been changed over recent years to allow the splitting of super in the event of separation or divorce.
For most Australians, superannuation is one of the most important assets we’ll ever have. So why is it not regarded in the same way as home ownership or our capacity to earn income? Perhaps it’s because super has always been difficult to understand and retirement has seemed a long way off.
However, many people will not be able to rely on the Age Pension and will need to fund their own retirement.
Therefore, it is important to emphasise that the actions taken today will determine how comfortably retirement is in later years, i.e. when you stop working and start living on your investment in retirement. It can provide for financial security and stability in the future.
Now, with the government's big changes to super, there are great opportunities for super savers and retirees. Find out more...
However, many people will not be able to rely on the Age Pension and will need to fund their own retirement.
Therefore, it is important to emphasise that the actions taken today will determine how comfortably retirement is in later years, i.e. when you stop working and start living on your investment in retirement. It can provide for financial security and stability in the future.
Now, with the government's big changes to super, there are great opportunities for super savers and retirees. Find out more...
Advance is the issuer of interests in the Advance Managed Funds and Asgard is the issuer of the interests in the Advance Super Products (the "Advance Products"). The information displayed or given on this webpage is of a general nature and does not take into account any person's objectives, financial situation or needs and, because of that, you should, before acting on the information, consider whether the information is appropriate for you, having regard to these factors. You should also consider obtaining independent legal, financial and/or other professional advice before making a decision in relation to any investment. Before deciding whether to acquire, or continue to hold, an investment in an Advance Product, you obtain and should consider the relevant Product Disclosure Document for that product. You can obtain a copy from your financial adviser, by downloading it from this website or by calling Advance on 1800 819 935, 8.30am - 7.00pm (AEST).