Print PageContribute extra
Contributing to your super is the main way to grow your retirement savings.
Compulsory employer contributions are the foundation blocks, but to achieve a ‘comfortable’ retirement you should consider making extra contributions. There are basically two different types of contributions you can make; after-tax and before-tax, also known as salary sacrifice. Find out which suits you best.
Foundation blocks - compulsory employer contributions
The law requires that your employer contributes at least 9% of your pay to your super until age 70. This is known as the Superannuation Guarantee. Research1 shows this isn’t enough for most people to achieve a comfortable retirement.
After-tax contributions
If you’re under age 65 you can make extra after-tax contributions to your super at any time. You can use your take-home pay or contribute from other investments or savings.
To contribute choose from the following options:
- log in to your Member Account and choose Lump Sum Contribution
- send us a member contribution form, or
- ask your employer to make contributions for you straight from your after-tax pay.
Get a 100% return on your investment with the government co-contribution
If your assessable income is under $61,920 pa and you make after-tax contributions, the government may help grow your super by paying a co-contribution of up to $1,000 into your super account. Read our Government Co-contribution fact sheet to find out more.
Before-tax contributions
Making before-tax contributions, also known as salary sacrifice, means you get more super and pay less tax (if your tax rate is above 15%).
Before-tax contributions are extra contributions your employer makes from your pay before they deduct your income tax. You need to ask your employer if they’ll agree to make these contributions for you.
For more information see our before-tax contributions fact sheet.
Contributing tips
Optimise your super contributions
Use the government's MoneySmart Super Contributions Optimiser to find out how to get the biggest boost to your super.
Learn about dollar cost averaging
A strategy that utilises falling markets to buy cheap assets by making regular contributions in a variety of market conditions.
Watch out – you can contribute too much!
The government limits how much you can put into your super each year and still receive tax concessions. These limits are called contribution caps. Read more…
Don’t forget to provide your TFN
The law says that if we don’t have your Tax File Number (TFN):
- your before-tax contributions will be taxed at the top marginal rate of 46.5%, including the Medicare levy, rather than the usual 15%, and
- we can’t accept your after-tax contributions. This means you’ll also miss out on the government co-contribution if you’re eligible.
You can give us your TFN over the phone or log in to your Member Account. To find out more see our TFN fact sheet.
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