7 tips and tricks to grow your super

Superannuation is a Trillion dollar industry in Australia and sorting your super may at times seem tricky, not so interesting and complicated. Here are 7 tips and tricks to grow your super.

Here are our top 7 Tips and Tricks.

Tip 1. Find your lost super

If you’ve changed jobs a few times in your career, chances are you have more than one super account. If you’ve lost track of some of your super, or if you’re not sure, you can search for it in your Member Portal.

Tip 2. Bring your super together

If you have more than one super account, one of the best things you can do is bring them together in the one account. This will help you cut down on fees.  You can find and combine your super in your online account with just a few clicks.

Tip 3. Top up your balance

While the 9.5% compulsory super contribution your employer makes to your account is a good start, if you want a comfortable retirement you may need to add a little extra. Speak to your employer about setting up regular salary sacrifice contributions from your before tax pay and boost your super while reducing your income tax.

Tip 4. Boost your super with a bonus or inheritance

If you receive some unexpected money this year, why not contribute some or all of it to super? If you’re aged under 65, you may be able to make an after-tax contribution to super of up to $100,000 per year. Better yet, you may be able to bring forward two or three years of unused caps to make a contribution of up to $300,000 (subject to eligibility requirements)

Tip 5. Contribute to your spouse’s super

If your spouse earns less than $37,000 and you make a $3,000 contribution to their super, you may be eligible for a tax rebate of up to $540. For more information on spouse contributions, visit ato.gov.au.

Tip 6. Invest for the long term

Super is a long term investment that grows over your working life and needs to keep growing for you in retirement, so make sure you choose the right investment option. You can learn more about our super investment options here.

Tip 7. Take your super with you if you change jobs

If you change employers, you can get your new employer to pay your super into your Crescent Wealth super account. Our friendly Helpline Team can show you how. Call us on 1300 926 626.

If you would like to clarify any of these tips, or delve deeper, do not hesitate to get in touch with our team. We love hearing from you.