Let's save retirement

You could be a lot better off if you invest in super — not just your mortgage.

You could be a lot better off if you invest
in super not just your mortgage.

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Open a super account today

It's never too early to save for your retirement

A commonly asked question is... should you use any extra dollars to pay off your mortgage or invest in your super? There may be an opportunity for you to potentially use your cashflow more effectively, particularly if you can arrange for pre-tax dollars to be contributed into your super fund (known as concessional contributions). Utilising this strategy may grow your investment at a higher rate, as concessional contributions are taxed at a maximum rate of 15%1, while funds used to pay off your mortgage are usually from income that may be taxed up to a maximum marginal tax rate of 49%.

This means many people could be a lot better off putting extra money into super.

You can boost your super in just a few easy steps

Get started today: if you're aged under 49 (on 30 June of the previous financial year), you can contribute up to $30,000 pa of your pre-tax salary, wages or bonus into your super fund at the 15% tax rate1. If you're aged 49 or over (on 30 June of the previous financial year), you can contribute up to $35,000 pa in the current financial year1.

Talk to an expert: find out whether making extra contributions to super is the right strategy for you, how to do it and how much you should put into your super.

Talk to your employer about salary sacrifice: not all employers offer salary sacrifice and some have quite specific requirements.

“Many people could be a lot better off putting extra money into super.”

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Get prepared

Here's some other tips to help you take the next step...