1. Roll 'n' Save
Do you have super funds scattered all over the place? If you do, chances are you are paying more than you need to in fees and charges. You could also be putting your super at risk of becoming lost. There is about $18.1 billion of lost super in Australia. Consider rolling all your super into BUSSQ to keep track of it and boost your super.
2. Choose the best investment option/s for you
Choosing the right investment option and getting a better return, could add thousands to your super account by the time you retire. It’s important to choose an investment option that suits your personal risk tolerance and investment objectives. How long you will be invested, is also an important consideration. BUSSQ offers members a range of different investment options. Find out how to choose now.
3. Make extra contributions to your super
It’s amazing the difference small contributions can make to boost your retirement savings – especially if you start early. Regular contributions, combined with compound interest (the ability to earn interest on your interest) can significantly boost your super nest egg.
You could consider salary sacrificing your contributions, which could also be a great way to boost your super and reduce your tax. Consider making extra contributions.
4. Government co-contributions
If you are on a low or middle income, the Government offers to contribute a maximum of $0.50 for every $1 you contribute into your super - to a maximum of $500. That’s potentially a 50% return on your investment! See if you’re eligible for Government co-contributions.
5. Spouse contributions
Make a contribution to your spouse's super account to assist them build their retirement savings and work towards your retirement nest egg together. Benefits include the chance to receive a tax offset for contributions made on behalf of a low income earning or non-working spouse, as well as other tax advantages.
6. Get financial advice
Get advice from the experts to make your super work as hard as you do. BUSSQ offers personal limited financial advice about super, including choosing insurance, choosing investments and making contributions, at no extra cost as it is included in the fund’s administration fees. BUSSQ also offers more complex financial advice on a fee for service basis through Skylight Financial Solutions.
Our fees for financial advice are low and are structured purely for cost recovery plus, they can be deducted from your superannuation account, so you won’t be out of pocket.
Getting advice is about finding out about strategies that could boost your super. You don’t know, what you don’t know – so speak to our financial experts who do.
Take action now. A few minutes today could make a lifetime of difference to your super.
Call us on 1800 MY BUSSQ (1800 69 2877) for general enquiries or to ask to book in a time to speak to one of our financial planners. Or, book in to talk to a Financial Planner online now.
Want to know how much you need to retire?