Superannuation
Superannuation (super) is a way of saving for your retirement. It is a lifelong investment that has many benefits. You should start making super contributions as soon as possible.
Couples and families can boost their superannuation savings by:
- making personal contributions to their super
- salary sacrificing
- using the government’s super co-contribution scheme.
Make the most of your super by finding lost contributions and choosing the right fund.
Finding a fund
There are many different types of super funds in Australia.
Search Super Fund Lookup for information about super funds.
Compulsory employer contributions
Generally, it’s compulsory for your employer to contribute to your super fund if you're aged 18–69 and paid $450 or more (before tax) a month.
Read more about compulsory employer contributionsTransfer or claim your superannuation
You may be entitled to transfer your entire super balance from one fund to another. You may want to consider this if you hold several super accounts. Before you decide, check:
- which account you will use for future employer contributions
- if you have to pay exit or withdrawal fees
- whether the new fund offers the same entitlements.
Contact your super fund provider for more information.
Accessing superannuation early
In most cases, you cannot access your super before you are 55—except on compassionate grounds or because of severe financial hardship.
Check if you’re eligible to access your super early.
Migrant families
You may be able to transfer your foreign super fund if you have recently moved to Australia.
Relationship breakdowns
Your super entitlements may be affected by a relationship breakdown between you and your spouse. What happens to your entitlements will depend on the type of fund you have (e.g. regulated or self-managed).
Same-sex couples
Read information on changes to the laws affecting the super entitlements of same-sex couples and their children.
More information
For more information about super and tax including how much tax you should pay and how to get the most from your super, contact:
- the Australian Taxation Office on 13 28 61
- MoneySmart on 1300 300 630.