If having more money in retirement sounds good to you, you might be interested to know that there are more ways than one to top up your super.

Generally speaking, if you earn over $450 a month, your employer should be putting no less than 9.5% of your before-tax salary into your super under the Superannuation Guarantee scheme. Did you know, contributions made into your super don’t have to stop there? There are more ways than one to boost your super savings, which you could start doing at any time.

How you could grow your super further

Salary sacrifice contributions

Salary sacrifice is where you choose to have some of your before-tax income paid into your super by your employer on top of what they might pay you under the Superannuation Guarantee.

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Personal (after-tax) contributions

Personal (after-tax) contributions are made using after-tax dollars, such as when you transfer funds from your bank account into your super. 

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Tax-deductible contributions

Personal (after-tax) contributions are made using after-tax dollars, such as when you transfer funds from your bank account into your super.

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Government co-contributions

If you’ve made an after-tax contribution to your super, you might be eligible for a co-contribution of up to $500 from the government. The Superannuation Co-Contribution Scheme is an initiative that aims to assist low to middle-income earners save for their retirement.

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Spouse contributions

These are contributions you could make into your spouse’s super account, which you may want to do if they’re a low-income earner or not working at the moment. On top of that, you may be eligible for a tax offset of up to $540 depending on how much you contribute. 

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Downsizer contributions

These are contributions you could make into your super at age 65 or over (up to $300,000) using the proceeds from the sale of your main residence, regardless of super contribution limits and restrictions that otherwise apply. 

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What to keep in mind

You can check your AMP super balance by logging into My AMP or by calling 131 267.

Important information

Products in the Super Directions Fund and the Wealth Personal Superannuation and Pension Fund are issued by N.M. Superannuation Proprietary Limited (N.M. Super) ABN 31 008 428 322 (trustee), which is part of the AMP group (AMP). Before deciding what’s right for you, it’s important to consider your particular circumstances and read the relevant Product Disclosure Statement or Terms and Conditions available from AMP at amp.com.au or by calling 131 267. Read AMP’s Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you.

Products in the AMP Eligible Rollover Fund, National Mutual Retirement Fund, and NM Pro Super Fund are issued by Equity Trustees Superannuation Limited ABN 50 055 641 757 (trustee). Risk products are issued by AMP Life Limited ABN 84 079 300 379 (AMP Life), which is part of the Resolution Life group. AMP Life has proudly served customers in Australia since 1849. AMP Limited ABN 49 079 354 519 has sold AMP Life to the Resolution Life group whilst retaining a minority economic interest. AMP Limited has no day-to-day involvement in the management of AMP Life whose products and services are not affiliated with or guaranteed by AMP Limited. AMP Limited is not liable for products issued by AMP Life or any statements or representations made in the PDS for those products. “AMP”, “AMP Life” and any other AMP trademarks are used by AMP Life under licence from AMP Limited. Before deciding what’s right for you, it’s important to consider your particular circumstances and read the relevant Product Disclosure Statement or Terms and Conditions available from AMP Life at amp.com.au or by calling 133 731. Read AMP Life’s Financial Services Guide for information about our services, including the fees and other benefits that AMP Life and/or other companies within the Resolution Life group may receive in relation to products and services provided to you.

Any advice and information provided is general in nature, hasn’t taken your circumstances into account, and is provided by AWM Services Pty Ltd ABN 15 139 353 496 (AWM Services), which is part of the AMP group (AMP). All information on this website is subject to change without notice.