Get an understanding of what superannuation is and what features and benefits may be available to you in our 2 minute animated video.
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A late start to super
If you arrived in Australia once you were well into your working life, you may have a lower super balance than someone who has been in the system for their whole working life.
Learn more about what that might mean for your retirement and what you can do about it.
(2:35 minutes)
Watch nowMeet our team
Get to know our Member Services Team. Members can make a free one-on-one appointment to chat through any questions. Book online at www.electricsuper.au/meet-with-us.
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Watch nowHow much do you want at retirement?
Knowing what balance you’re aiming for at retirement is a personal question. You can learn more about how to work out your own target from our quick video.
(1:20 minutes)
Watch nowHow much could you have at retirement?
Try our Retirement Planner calculator to get an idea of where your super might be by the time you retire.
You can also change variables to see what retiring earlier or later, or making more voluntary contributions to your super could do to your retirement balance and how long it may last.
Making contributions
If you want to make contributions for yourself into your super, you are welcome to do this. There are annual caps that apply on what you can put into your super without penalty, so you need to take them into consideration when you are thinking about what you will put into your super.
Most contributions you might make will fall into one of two broad categories: there are ‘concessional contributions’ and ‘non-concessional contributions’. The reference to ‘concessional’ is to whether or not the money is given concessional tax treatment when it hits your super account. Both concessional and non-concessional contributions have different annual caps, which are reviewed by the government each year. Non-concessional contributions are typically limited to 4x the concessional contribution cap, but you can read the current concessional contribution cap and non-concessional cap on the Australian Taxation Office’s website.
There are other types of contributions you could make too (depending on your situation).
Our website has more about the types of contributions you could make and the contribution caps that apply.
Other resources
Webpages
Your super account has a number of features that you may make decisions about, including your insurance options, choosing your own investment option and making a beneficiary nomination to decide who will receive your super if you die.
You can read more about these things on our website:
Do you have an overseas pension?
If you have a foreign pension account, you may be able to bring it into the Australian superannuation system. Your foreign pension account may be referred to as a private pension account, a retirement savings plan, a private annuity or something similar.
However, ElectricSuper is unlikely to be able to accept your foreign pension balance.
There are lots of restrictions and possible tax implications to moving your foreign pension so read more about it it (and where to find other resources) on our website and the Australian Taxation Office’s website.
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