Why you should review and manage your super?
Super is one of your most important assets you can have during your lifetime as it can determine what kind of lifestyle you can live once you retire. Even if retirement is far off, ensuring you understand what's happening with your super now and making the necessary changes may significantly impact your final super balance.
Why is it important to check your super?
Regularly checking your super is recommended to make sure you:
- are receiving your entitled super from your employer.
- understand where your super is located (e.g. is it spread over multiple accounts with different funds).
- are on track for your retirement goals.
If you are across these three points, then you can make changes when required and manage your super more effectively.
Ways you can boost your super balance
Consolidate your super
Over the course of your career, you may have put your super into multiple accounts. There are many benefits in consolidating these into one easy to manage account, including potentially having more super over the long term.
Grow your super
In addition to the Superannuation Guarantee, which is the amount your employer pays into your super account from your wages, there are voluntary contributions you can make to boost the amount you’ll have when you retire.
Managing your super when things change
Life events such as changing jobs, getting married, starting a family or planning retirement is a good time to review your super and make changes that suit your circumstances.
When your situation changes, it’s important to review your insurance cover. You may need to increase, decrease or cancel your cover.
Changing jobs or starting your first job? You can generally choose which super fund you'd like your employer to pay into. Learn how to manage super when changing jobs.
You may want to review your investment strategy if your tolerance to risk has changed based on recent life events.
Easily manage your super
Manage your super and retirement accounts through your online account or through the award-winning UniSuper app.
Other useful information
Access your super
Your super is a long-term investment to support you in retirement. In limited circumstances, you may be able to access it earlier.
Set up employer contributions
Ensure your employer is making regular super contributions into your preferred superannuation account.
Beneficiaries
Nominate the people important to you as a beneficiary so they may receive your super and pension benefits in the event of your death.