For many people, superannuation is a confusing area that is often placed in the ‘too hard' basket. As a result, they don’t make the most of the opportunities superannuation provides.  

Employees who earn $450 per month or more receive a superannuation contribution of 9.5%.  

Superannuation is designed to help you save for retirement, so the Australian Government has put restrictions on when you can access the money in the fund. In general you can only access the fund when you permanently retire from the workforce or reach your preservation age which is between the ages of 55 and 60, depending on the year you were born.

Most employees have a choice of fund, which enables them to shop around and find the right fund that will give them the best returns. As superannuation is a very effective way of saving for retirement, Capital Financial Planning makes it easy for you to manage and get the most out of your superannuation assets.

Things to keep in mind:  

Check that your employer is contributing the right amount – if you are eligible, it should be equivalent to at least 9.5% of your earnings. 

Check how your superannuation investments are growing and find out what your final payout will be. 

Decide if you want to make extra contributions to help your nest egg grow.