Lump Sum Contributions

If you have come into some money, perhaps sold an investment property or won the footy tipping, you might like to consider topping up your retirement savings. Remember, you can access it as tax free income once you are over age 60.

Use ASIC’s superannuation calculator to see the difference a lump sum post tax contribution can make to your retirement savings.

Lump sum post tax contributions are called non-concessional contributions and limits apply. Currently the limit is $150,000 per person per annum or $450,000 per person averaged over three years for anyone under 65 years.

It is important to remember that you generally cannot access any money you contribute to super until you reach your preservation age and retire.

Co-contribution Deadline

The June 30 deadline for 2011 has passed. Don't leave it until the last minute for next year. If you are planning to take advantage of the Federal Government's hand out, you need to get your post tax contribution in before 5.00pm 29th June 2012.

Find Lost Super

If you have had multiple jobs you may have some lost super with other funds. Find out how to track it down here.