A home is likely to be one of the biggest purchase decisions you make, so it makes sense to consider all your finances.

Saving for your first home

First Home Super Saver

You can use your super to save for your first home deposit using the Australian Government’s First Home Super Saver (FHSS) Scheme.

Make extra contributions to your super (after-tax or pre-tax) and withdraw them early, along with earnings, to pay for your home deposit.

To find out more, watch our short video (2:48).

Or search for ‘First Home Super Saver Scheme’ on the ATO website.

Contributions

There is no difference in the way that you make the extra personal contributions if you wish to withdraw them early under the FHSS scheme.

You can choose to make these extra contributions using either the post-tax or pre-tax method. Choosing the right contribution method can make a big difference to your financial position, helping you save for your first home sooner.

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What should I consider?

Review your options to get more from your super. There are a number of ways your super can help when you’re buying a home. Whether it’s saving for a deposit by making extra contributions or making sure you’re fully insured, we can talk to you and help you understand your options.

Insurance

(Division 5 members only)

Increase your insurance cover by one level without a health check when you take out or increase your mortgage.

If you’re buying a home, you might be taking out a mortgage. If your mortgage results in an increase to your expenses, you may wish to review your insurance options to make sure you’re fully covered. If something happens to you and you are unable to work, will your insurance cover be enough to pay your outgoing expenses? Download the form below to apply for one extra level of insurance cover without a health check.

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Call 1300 307 844

For help managing your super and your membership.

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My life changes

As your life changes, you may wish to make changes to your options to protect your family and secure your finances. Major life events such as getting married, having a child, taking out a mortgage or turning a milestone age may all be reasons for you to consider your options.

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What our members say

“I gained a better understanding of my current superannuation position, other superannuation products available to me & general retirement options.”

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