How super works

This section covers the most popular questions on how superannuation works, including how to find lost super, how super works, how much money is enough, and simple step-by-step superannuation guides.


Below are some of our key How super works articles:

Set out below are all SuperGuide articles explaining How super works.

Financial advice: Only 58 independent financial advisers in Australia

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Note: This article is updated regularly when new financial advisers join the independence club (latest update May 2015). A financial adviser does not have to be a member of the IFAAA to join the SuperGuide list, provided they can declare that they satisfy the requirements of being an independent … [Read more...]

Budget brief: will I lose my age pension?

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By Rafal Chomik, UNSW Australia Business School The Conversation’s Budget briefs series aims to answer reader questions about the 2015 federal budget. The 2015 budget confirms pre-budget announcements that the government is committed to reducing the cost of the age pension, but will now do so … [Read more...]

Age Pension assets test changes: Comments from readers

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On 7 May 2015 (and confirmed in the May 2015 Federal Budget), the Minister for Social Services, Scott Morrison announced two key changes to the Age Pensions assets test, to take effect from January 2017 (assuming the Liberals win the next election). Our SuperGuide readers had a few things to say … [Read more...]

300,000 retired Australians to lose some or all Age Pension entitlements

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More than 300,000 Age Pensioners will have their Age Pension cut, with just under 100,000 of those affected Australians losing all Age Pension entitlements, taking effect from January 2017. On 7 May 2015 the federal government announced changes to the Age Pension assets test (and confirmed this … [Read more...]

Are you eligible for a Commonwealth Seniors Health Card?

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IMPORTANT: Since 1 January 2015, new applicants for CSHC need to include tax-free superannuation income when assessing CSHC eligibility. Effective from September 2014, the government indexed the income test thresholds for the CSHC. The income test thresholds will be now indexed annually from … [Read more...]

Seeking advice? Financial Advisers Register is a starting point

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On 31 March 2015, the Australian Securities & Investments Commission (ASIC) launched the first phase of the much-talked about Financial Advisers Register. The Register (FAS), contains information about 19,000 advisers. ASIC has also kindly updated its consumer information about how to choose a … [Read more...]

Does the Government’s co-contribution count towards my contributions cap?

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Q: Does a co-contribution received after using up the total bring forward cap of $540,000 mean that an excess contribution has been made, or is the Government co-contribution excluded from the after-tax contribution cap? A: A superannuation co-contribution is a tax-free super contribution paid by … [Read more...]

Superannuation rates and thresholds for 2015/2016 year (and 2014/2015 year)

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Note: This article lists the latest superannuation rates and thresholds for the 2015/2016 year, and for the 2014/2015 year, and also for earlier financial years. One of the most searched-for superannuation thresholds is the concessional contributions cap for the latest financial year. For the … [Read more...]

Super contributions: How much co-contribution will I get?

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Q: Where do I go to find a calculator that helps me work out how much co-contribution I will be entitled to, and how much super I need to contribute to get that co-contribution? I am also looking for something that shows the sliding scale for different income levels and different super … [Read more...]

Superannuation Guarantee: What is the maximum SG employers must pay?

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Q: I am earning a salary of $200,000 plus super. I am aged 42. I understand a maximum contribution level applies based on a 9.5% SG contribution, before the balance up to $30K limit can be made on a salary sacrifice basis. Can you please confirm what the maximum SG contribution is allowed to be for … [Read more...]