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How to invest

Don’t just rely on your employer to grow your super savings. It’s possible to add to your super though your own contributions, and it means more money to live on in retirement.


Don’t just rely on your employer to grow your super savings. It’s possible to add to your super though your own contributions, and it means more money to live on in retirement.

Making extra contributions is easy

There are two main ways to grow your super savings.

Before-tax contributions

If you’re a PAYG employee, consider talking to the boss about making contributions to super via salary sacrifice. This involves having part of your before-tax wage or salary paid into your super rather than receiving the money as cash in hand. It’s a very tax-friendly way to grow to your super.

If you’re self-employed, you can claim contributions to super (up to annual limits) as a tax deduction, making adding to super an important part of your business plan.

After-tax contributions

It’s also possible to make super contributions from your own pocket. If you have some spare cash available or if you’ve received a windfall or an inheritance, it can be worth adding all or part of the money to your fund.

If you’re a low to middle income earner, making after-tax contributions could see you entitled to a financial helping hand from the government through the co-contributions scheme.

If you have a spouse or partner, making an after-tax contribution to their super fund can see you entitled to a tax offset, to save on your own tax while building your other half’s retirement savings.

Be aware of annual limits – expert advice is essential

It’s worth speaking to your Mortgage Choice financial adviser to develop a strategy to invest in super. Annual limits apply to how much you can add to your fund each year both through before-tax and after-tax contributions. It’s important not to exceed these limits as penalties can apply.

Taking a structured approach to your contributions ensures you are on track to build your nest egg in the most tax-effective way possible. 

Talk to your local financial adviser today

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