Did you know that you can use your super to save the deposit you need to buy your first home? Our short video explains more.
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Buying your first home is a big step. Your super could help - in saving your deposit & making sure you have enough life insurance
Even while you’re using your super to save for your home deposit, you need to keep annual caps in mind to make sure you don’t breach the limits.
You can read more detail about the annual caps on our Limits on Annual Contributions page.
As your life changes and responsibilities increase, think about whether your insurance is enough to cover what you or your family need if something happens to you and you can’t work anymore.
Read more about how to tell if you have enough insurance.
When you take out a mortgage on your home (or increase an existing mortgage), you can increase your Death and Total and Permanent Disability insurance without having to complete a medical questionnaire.
Want to increase your insurance by one level without having to complete a detailed medical questionnaire? Complete this form within 12 months of taking out your mortgage.
No-one likes to think about it, but if you die, who will receive your super? You might be surprised to learn it won’t automatically be paid to your spouse or maybe not to your estate. You can choose who will receive it by making a nomination.
Read more about nominations on our Beneficiaries page.
Here are some of the forms and other resources that might help if you want to use your super to help you save for a deposit for the First Home Super Saver Scheme or if you want to learn more about the insurance you have through your super..
Want to access our other forms, pages and calculators? See the Resources/Forms page.
Complete the form and forward to your payroll team to start or change your contributions to super.
The ATO is the authority on the First Home Super Saver Scheme. They should be your first port of call with any questions about the scheme.
They will handle your application to withdraw your deposit from super, including calculating how much you can withdraw.
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