Grow your super

Learn five simple ways you can boost your super and get on track to achieving the lifestyle you want in retirement.

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It’s never too early, or too late, to start thinking about your financial future, and how to make that future brighter.

For many of us, the super our employer contributes won’t be enough to fund the lifestyle we want in retirement.

But there are five simple things YOU can do right now to grow your super.

One. Add extra money. Even small contributions can make a big difference to your income in retirement. Just $20 each week over 20 years could boost your super by over $31,000!  Plus you could enjoy tax benefits if you salary sacrifice.

Two. Combine your super. If you have super in other funds you could be paying multiple fees and insurance premiums. Save time and money by transferring your other super to your LGIAsuper account. You can find any lost super by doing a quick search on the Australian Taxation office website.

Three – Review your investments. How you invest your super affects how it grows. LGIAsuper offers a wide range of flexible investment options so you can make a choice to suit your needs.

Four – Add to your spouse’s super. Spouse contributions can boost your partner’s retirement savings, especially if they’ve had time off to raise a family. You could also enjoy tax benefits too.

Five. Get a helping hand from the Government. Depending on how much you earn, you could benefit from the government’s co-contribution when you make an after-tax super contribution.

So, there you go, five easy steps to grow your super and achieve the lifestyle you want in retirement. To learn more about these options and how they could boost your retirement savings, explore our website or give us a call today.

Disclaimer:

This video provides general advice only. It has been prepared without taking into account your individual objectives, financial situation or needs. You must not rely on this information alone as a sole or primary source of advice or guidance for the purpose of making decisions about your superannuation options.

Your eligibility for the government co-contribution scheme and any tax benefits associated with salary sacrifice or spouse contributions depends on various factors including, but not limited to, your income and current legislation. You should also note there are limits to how much you and your employer can contribute to your super without paying extra tax.

If you are interested in exercising your options in LGIAsuper, in relation to a matter referred to in this video, you should obtain the relevant Product Disclosure Statement and consider contacting an LGIAsuper representative.

The example in the video where a member’s super balance could grow by more than $31,000 when adding an extra $20 per week for 20 years is an estimate only and involves the following assumptions:

- Investment return of 7% p.a. (after fees and taxes)
- Inflation (CPI) of 3% p.a.

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This video provides general advice only. It has been prepared without taking into account your individual objectives, financial situation or needs. You must not rely on this information alone as a sole or primary source of advice or guidance for the purpose of making decisions about your superannuation options.