Compulsory contributions are designed to give you a financial foundation for your retirement. But to ensure you can continue to have the lifestyle you currently enjoy, start building your retirement fund with extra contributions now.
Download the Extra Contributions Brochure to find out more.
The benefits of starting early
It's amazing the effect that extra contributions can have on your final superannuation payout – especially if you start early and enjoy the benefits of compound interest. You may be eligible for free cash from the government via the co-contribution scheme.
Start contributing at age |
20 |
30 |
40 |
$ contributed each week
|
$25 |
$25
|
$25 |
Total $ contributed
|
$58,500 |
$45,500
|
$32,500 |
Benefit at retirement
|
$212,658
|
$120,272
|
$63,554 |
* Earnings are calculated at a compound interest rate of 5% p.a., with amounts being fully invested until age 65. (Please note: these assumptions are for illustrative purposes only and the investment return is not guaranteed. Returns can be higher or lower than set out in this example.)
How much should you contribute?
It is important to work out the type of lifestyle you want in retirement and estimate the income you will require. You can then work out how much extra you will need to add to your super.
Use this online calculator to help estimate how much you will need to enjoy your retirement. Click here to go to the calculator. You may also like to talk to a licensed financial planner to discuss your options.