Ask four questions to keep your super moving with the times
With all the different information and options available, setting up your super can seem overwhelming. That’s why we’ve summarised the key areas to focus on so you can get the retirement you want - with minimum fuss.
How much should I contribute to my super?
Depending on when you retire, your money may need to last more than 20 years. If you are employed, and earning more than $450 per month, your employer is already making the required contributions to your super. However, this may not be enough to give you the lifestyle you want in retirement.
Use our tools to find out:
- how much you can afford to contribute before and after tax
- whether you’re eligible for the government co-contribution
- if you’re currently contributing, whether you’re within the contribution limits.
Tools to help with contributions
› Simple savings guide: How much do you need in retirement?
› Webcast: Contributing to your super
› Contributions Optimiser Calculator
› Fido Retirement Planner Calculator
How should I invest?
Making the right investment choices can mean the difference between achieving and not achieving the lifestyle you want in retirement.
Whether you like to get actively involved or let the professionals manage your investments, you can use our tools to help ensure that your investment strategy will:
- achieve your long-term objectives
- provide you with the benefits of diversification
- meet your needs as you get older or your circumstances change
- suit your level of risk tolerance.
Tools to help with investment choices
Am I in one fund?
If you have super in a number of different accounts, it’s likely you’re paying more fees than you need to. By consolidating your super into the one account you can:
- see your super picture more clearly – so you always know how much you have, where it is invested and how it’s performing
- control your position - with only one balance it’s much easier to manage your investment strategy and reach your retirement goals
- pay less fees – paying only just one set of fees may make a significant difference to your retirement savings in the long term
- save time – one statement means less time managing multiple accounts
It’s easy to do and will help you maximise your super.
Maximise your super in the one account
› Fact sheet: Consolidate your super – why & how (200kb pdf)
› Take action: Consolidate your super (200kb pdf)
What type of protection do I need?
Insurance cover is often the last thing you think about when considering your super. The majority of members in Russell SuperSolution automatically receive insurance cover when they join - but is it enough to protect you and your family? Use our tools to find out:
- what cover you currently have
- how much extra cover you may need
- what type of cover you may need to protect your savings.
Tools to help with insurance
› Insurance Evaluator Calculator
› Article: Why have insurance through super?
› Fact sheet: Your death benefit (214kb pdf)
› Fact sheet: Your total and permanent disablement benefit (200kb pdf)
› Fact sheet: Your income protection benefit (200kb pdf)