Super for Beginners

Superannuation for Beginners articles are a great starting point for anyone beginning their superannuation journey, or beginning their super education.

You can find the answers to questions that you may have been afraid to ask, or not known to ask. You can also ask your own questions, which helps us build the Beginners section of SuperGuide, and helps our many thousands of readers.

Below are some of our key Super for Beginners articles:

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This article is updated regularly when new financial advisers join the independence club. 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 adviser.

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One of SuperGuide’s more popular initiatives has been the development of a ‘Super for Beginners’ section that answers some of the many questions that we receive from those readers who are new to superannuation and new to super’s terminology.

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For so many women, the needs of other people usually come first — children, partner, parents, friends and even workmates.

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Q: I checked my statement and I put an extra $10 per week into my super and each time an amount is put in, it has been taxed. Is this right? I thought that my contributions were tax-free?

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Q: I am 16 years of age. I still go to school but I have just started my first part-time job. Do I get any superannuation? And if I do, where does it go?

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Q: I’m new to Australia and I have absolutely no idea where to start with my super in order to have the best outcome 40 years from now.

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The Top 10 must-know facts are a handy guide for those seeking to understand how the super rules work, and the list also serves as a refresher for those readers who may be more familiar with the super rules.

Set out below are all SuperGuide articles explaining Super for Beginners.

Superannuation Guarantee: What hours does my employer have to pay super on?

Q: I am trying to find out on what hours my employer has to pay super. I get paid per hour plus over time, but it is a set roster of 12 hours per shift. Doing less is not optional so to me they are ordinary hours, not overtime, or is this a loophole for employers? Can you direct me to find out about … [Read more...]

Financial advice: Only 80 independent financial advisers in Australia

Note: This article is updated regularly when new financial advisers join the independence club (latest update May 2016). 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...]

Problem with your adviser or super fund? A 2-step plan to resolve it!

Knowing who to turn to when you need help resolving a problem with your super fund or financial adviser can be tricky. There are a number of organisations that can help, but they all have different areas of responsibility and can help you in different ways.To help you understand what assistance … [Read more...]

Seeking financial advice? A 5-step guide to obtaining expert help

Now that the outcome of the 2016 Federal election is finalised, with the Coalition winning government, the super system is set to face even more change. Unfortunately, more complexity usually accompanies any proposed superannuation reforms, driving many Australians to seek out financial … [Read more...]

Age Pension: 300,000-plus Australians lose entitlements from January 2017

Note: Changes to the Age Pension assets test are now law, and will take effect from 1 January 2017. The successful passage through parliament was due to the Greens supporting the changes announced by the Liberal/NP government in the 2015 federal budget. Although the ALP opposed the changes, the ALP … [Read more...]

Less Age Pension, and paid to fewer Australians

The change to the Age Pension rules is a bad example of ‘back to the future’ it seems, with a harsher Age Pension asset test taking effect from January 2017. The federal government expects 300,000 retired Australians will lose some, or all, Age Pension entitlements overnight.Before September … [Read more...]

Women and super: A worry-free financial future is possible

Before I wrote Super Freedom: A woman’s guide to superannuation, I had often discussed the need for a practical non-technical book for women on superannuation. The first question I was asked when I told some female friends that I was writing a book for women on superannuation and retirement was: … [Read more...]

Want to make 50% return on your super money?

If you earn less than $50,000 or so a year, or your spouse or children earn less than $50,000 or so a year, then you, or your spouse, or child, have a window of opportunity within the next few weeks (by June 2016) to potentially make a 50% return on your money when you make an after-tax super … [Read more...]

Super Tip No 3: Turn $1000 into $1500 in three steps

I don’t normally suggest ‘easy money’ strategies. I’m often sceptical about the motives of the individuals suggesting such strategies, which means I don’t like being boxed in that same category. In this instance however, I am going to explain a government-backed strategy that means, if you’re … [Read more...]

Super Tip No 2: Love your super like your own

The easiest way to save your super is to treat your super like you would money in the bank – which it is, nearly, except that you can’t spend it yet. Key message: It’s your money You turn up for work and your employer must pay money into a super fund on your behalf – the equivalent of 9.5% of your … [Read more...]