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Have you seen a superannuation specialist?

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Do you want to increase your super but are not sure how? Your super will most likely form the major part of your savings for retirement, so you want to be sure you’re making the most of it.

With better nutrition and medical advances, people are living longer and the average life expectancy is increasing – a male born in 2015 has an average life expectancy of 91.5 which is projected to increase to 95.1 by 2055, while a female’s life expectancy is projected to increase from 93.6 to 96.6 over the same period1. In living longer, people will need more in retirement savings. Coupled with that, the cost of living continues to increase.

Although the superannuation guarantee (SG) contributions made by your employer on your behalf are increasing gradually from 9.5 per cent to 12 per cent by 2025, these contributions alone may not be enough for your retirement needs. But how much is enough? It really depends on what you want to do in retirement.

Boost your super

There are a number of ways you could increase your super savings. If you have more than one super account, consolidating them into a single account could save on fees and paperwork.

If you are eligible, and make an after tax contribution to your super, you could receive a co-contribution from the Government.

Depending on how you and your spouse’s salary compare, you could also consider making spouse contributions.

A salary sacrifice strategy allows you to ‘sacrifice’ some of your pre-tax salary to super. Not only does this allow you to maximise your concessional contribution limit, it could also reduce the amount of tax you pay.

Financial advice makes a difference

Bridges has been providing professional financial planning services to credit union and building society members since 1985. Bridges financial planners are superannuation specialists; they will consider your situation and help you decide the most appropriate way to build your super savings for the retirement you’re looking forward to.

So why not call 1300 13 14 20 and make an appointment with a Bridges financial planner? The initial consultation is complimentary and obligation-free.


1. Intergenerational Report 2015. Commonwealth of Australia. March 2015. Bridges Financial Services Pty Limited (Bridges). ABN 60 003 474 977. ASX Participant. AFSL No 240837. This is general advice only and does not take into account your objectives, financial situation and needs. Before acting on this advice, you should consult a financial planner. In referring members to Bridges, Select Encompass Credit Union Ltd, ABN 43 087 650 011 | Australian Credit Licence / AFSL 238 426 does not accept responsibility for any acts, omissions or advice of Bridges and its authorised representatives.