Connect with your super at every age

 

We've put together our top tips to make it easier for you to connect with your super. While most of these tips apply at any age, by taking at least some action each decade, you'll help keep your retirement savings on track.

 

20's

1. Take your super with you when you change jobs
It pays to keep your super in one place. Not only is it easier to keep track of your money, but you’re also likely to save by paying just one set of fees.

It’s easy to take MTAA Super with you when you change jobs. Just download your Digital Member Card and keep your MTAA Super
account details handy in the Passbook of your iPhone device or the Passwallet of your Android device.

When you change jobs, give your new employer your MTAA Super member number and the Fund details from your Digital Member Card. Click here to download your Digital Member Card.

2. Check your employer payments
For most people, your employer needs to contribute 9.5% of your wage into super on your behalf. That’s your money and it’s worth checking to make sure you’re getting what you’re entitled to.

You can check that your employer is paying the right amount into your super account by logging in to your account via Member SuperSite.

3. Read your Annual Statement
When you get an email notification that your MTAA Super Annual Statement is available, it's worth taking the time to login to your account via Member SuperSite and check it out. Your Annual Statement provides key information about your super, including your account balance, details of your investments, fees and costs, and information about insurance (if any).

 

30's

1. Find out how much insurance cover you have
Most members get insurance automatically when they join MTAA Super. Make sure you know what type of cover you have, how much you’re covered for and what it costs you each month. You can check your insurance cover by logging in to your account via MemberSuperSite here.

2. Get advice about your investment options
Super is a very long-term investment and you’re looking at a 30–35 year investment horizon. Now’s the time to get advice on which investment option or mix of options your super is invested in.

To speak with someone over the phone or to get face-to-face advice, call us on 1300 362 415 or send an email to and we’ll get in touch.

3. Make spouse contributions
If your spouse or partner is earning less than $37,000 per year, you can put money into their super and get a tax benefit. For any amount you add into their super, up to a maximum of $3,000 per year, you'll get an 18% tax offset.

To find out more about making spouse contributions click here or call us on 1300 362 415.

 

40's

1. Put extra money into super
If you haven’t been doing this already, now’s the time to add extra into your super. You can make regular payments from your before tax salary of up to $25,000 per year (including your employer contributions).

To find out how extra contributions could help boost your retirement outcome, try our Contribution Optimiser Calculator

2. Nominate your beneficiary/ies
To make sure your super ends up in the right hands if something were to happen to you, you can either make a non-binding or binding beneficiary nomination. It's best to keep your nomination up to date as your circumstances and wishes are likely to change over time.

To find out more about making a death benefit nomination for your super, click here or call us on 1300 362 415. 

3. Check you have enough insurance cover
With a mortgage, school fees and other responsibilities, this can be the time when you have the most financial obligations to meet.

To  work out how much insurance cover you need, try the insurance calculator. 

 

50's

1. Check your retirement savings progress
You’re on the home stretch now and you’ll want to start keeping a close eye on how your super is tracking. You can check your super balance and investment performance at any time by logging in to your account via Member SuperSite or call us on 1300 362 415.

To get an estimate of your super balance when you retire, try our Super and Retirement Calculator

2. Make after-tax contributions
Got a bonus from work or received an inheritance? You can put the money into your super as an after-tax contribution, which means it won’t be taxed on the way in to your account. You can put in up to $100,000 per year or $300,000 over a three-year period.

You can make after-tax contributions via BPAY or EFT. For payment details, login to your account via Member SuperSite.

3. Maintain your income while you reduce your hours
If you’re over 55, a Transition to Retirement strategy may help you save on tax and maintain your income while you reduce your working hours.

To find out how it could work for you, try our Transition to Retirement Calculator or call us on 1300 362 415.

 

60's and beyond

1. Get retirement advice
Get your ducks in a row by speaking with a qualified financial adviser. You can discuss any Government entitlements, like the Age Pension, and work out how to structure any assets and investments outside of super to help maximise your entitlements. To get advice, call us on 1300 362 415 or send an email to  and we’ll get in touch.

2. Consider adding the proceeds of your house sale into super
If you’re over 65 and sell your place of residence after 1 July 2018, you may be able to contribute some of the proceeds to your super.

Check out the article on downsize your home and upsize your super. 

3. Set up a pension account
When you retire, a pension account can provide you with a regular income to help replace your salary. By keeping your money invested, you can enjoy the benefit of tax-free earnings on pension investments. You can also choose a pension payment frequency that works for you.

To find out more about our pension account options, click here or call us on 1300 362 415.

It's now easier than ever to set up a new pension account. Instead of providing certified copies of your ID documents, we can verify your identity online using details from your driver's licence, passport or Medicare card.