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.

Super contributions: $1 million opportunity

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Q: I am aged 54. How much can I make in super contributions without attracting penalty tax? Is it $210,000 or $215,000 or some other figure?A: Before I answer your question in detail, for the benefit of other readers I will first explain the figures you quote in your question.The general … [Read more...]

Clients come first: Financial advice reform saga continues

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In recent months I have kept fairly quiet about the financial advice reforms. Until recently, what more was there to say about a set of rules designed to favour the outdated business models of many financial planning businesses? Note that I am not targeting the advice provided by the firms with … [Read more...]

Same-sex couples: your super rights explained

Same sex super rights

The Australian parliament has decided that it was not the right time to allow same sex couples to marry, and more recently we have elected a Prime Minister who has publicly stated that he feels uncomfortable around homosexuals. We have a new government with a leader who is personally against … [Read more...]

Super for beginners, part 17: Four must-knows about super’s tax rules

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Q: I am trying to understand how my super is taxed and it seems that it is taxed at every turn. Can you please explain when, and how, a super benefit is taxed?A: If it were not for tax, superannuation wouldn’t exist. You would simply invest in your own name. Superannuation is taxed at lower … [Read more...]

Why women have to save more super

Women superannuation

When we first launched SuperGuide nearly 6 years ago, I wrote an article explaining why tax-free super in retirement is a non-issue for most women. The reason for making this statement, and which remains valid 6 years later, was that women, on average, have such low super account balances that the … [Read more...]

Super monkeys stop women creating a financially secure retirement

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For so many women, the needs of other people usually come first — children, partner, parents, friends and even workmates. Often, for a woman to think about her own needs, she has to face a health challenge, financial stress or a relationship breakdown.Too dramatic, perhaps? I don’t think so. The … [Read more...]

Super for beginners, part 22: How do you speak ‘superannuation’ (… in 20 words)?

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Many Australians find the stodgy language of superannuation confusing. The terminology associated with superannuation is a barrier to self-education and may deter some Australians from taking early steps to plan for retirement. Millions of Australians care about their super account even though they … [Read more...]

Super funds deliver 8.6% for year to October 2014, and 1.2% for month

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The median superannuation growth fund gained 1.2% for the month of October 2014 (following a loss of 0.6% in September, and gains of 1.2% for July, and 1% in August), according to rating company Chant West. For the 12 months to October 2014, the media growth fund delivered 8.6%, and for the calendar … [Read more...]

Are you eligible for a Commonwealth Seniors Health Card?

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IMPORTANT: The government has indexed the income test thresholds for the CSHC, effective from September 2014. The income test thresholds will be now indexed annually from September of each year.WARNING: From 1 January 2015, new applicants for CSHC will need to include tax-free superannuation … [Read more...]

Retirement: Can Australia afford to support your lifestyle?

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Are you planning to support yourself over a 30-year or even 40-year retirement or do you think Australia can afford to finance your retirement? The superannuation industry and the federal government continues to grapple with this issue, that is, whether Australia will continue to be in a position to … [Read more...]