Following changes announced in May’s Federal Budget, you may be wondering if super still an effective way to save for your retirement. The answer is “yes!”

You can take advantage of the tax concessions available through super, you may be able to choose your investment options and you can invest your retirement savings so they work for you over time.

For example, investment earnings in super are taxed at a maximum of 15% and, after age 60, withdrawals from your super are tax free. In addition, you can use salary sacrifice to contribute to super and pay only 15% contribution tax rather than your income tax rate, which can be up to 46.5%.

View the case study, to see why Brad, who contributed $25,000 to his super via salary sacrifice over five years, ended up with $5,000 more than Leonie, who invested in a term deposit.