Superannuation & SMSF

What is superannuation?

Superannuation is a special structure allowed by the government as a way to save for your retirement.  It is not an investment.  Strict guidelines apply to the type of investments held in the superannuation fund and also access to the funds prior to retirement.  Your employer must pay a minimum percent of your superannuation salary, called the superannuation guarantee, into a super fund.  Your employer is bound by the law to pay this amount over a certain salary threshold.

The bulk of money for superannuation comes from your superannuation guarantee contributions that are made into your super fund by your employer.  You can also add to your superannuation with your own contributions either by using pre-tax money in a salary sacrifice arrangement with your employer or by after tax contributions you make directly into your fund.

Limits apply to how much you can contribute to superannuation and this is where we can help you in determining the best strategy to build your funds. Based on your level of income you may qualify for the government co-contributions scheme where the government pays a pro-rata amount into your fund based on the level of your own after-tax contributions.

Over the course of your working life, these contributions from your employer add up, or 'accumulate'.  Your super money is also invested by your super fund in various investments and so it grows over time.  When you retire from the work force, you are able to use this superannuation money to support your lifestyle.
Super is a lifetime investment that has many benefits.  The government provides generous taxation benefits whilst you are accumulating funds during your working life and also when you access your funds at retirement.  Superannuation can be one of the most tax-effective ways to save for retirement.  During the accumulation phase contributions and earnings in the fund are taxed at a concessional rate, usually a maximum of 15%.  During the retirement phase, some pensions can pay no tax.

By taking an active interest in your superannuation and taking advantage of the various investment and strategy options available you can enhance the final amount available for your retirement.  Additional funds will enable you to have a better standard of living and thus you will be able to enjoy a happier retirement.

If you would like more control of your super so that you have a greater say in the type and range of investments made by your fund then you can elect to start your own Self- Managed Superannuation Fund (SMSF).

Superannuation is a very important aspect of many Australian retirement plans. In many cases super also provides the only form of personal insurance cover an employee has for Life, TPD and income protection.  Hence if you change your employment or are made redundant it is essential you seek professional help to protect your current position.

If you are being made redundant, we can help you understand your financial position, explain your termination payment, provide superannuation investment advice, update your insurances and help establish a budget to help you work through your changed financial position.

IWP has an extensive range of financial solutions to meet your needs.

Start planning your future today by completing our confidential contact request form or to speak with a financial planner:

Call us on 03 9576 2445 to make an appointment


Self-Managed Superannuation Fund (SMSF)

Christopher Lord, trading as Integrated Wealth Planning is an Authorised Representative of Charter Financial Planning Limited ABN 35 002 976 294 AFS License No. 234665, member of the AMP Group. Registered Office: AXA Australia Centre, 750 Collins Street (PO BOX 2830) Melbourne Vic 3001.

Information provided on this website is general in nature and does not constitute financial advice.  Every effort has been made to ensure that the information provided is accurate. Individuals must not rely on this information to make a financial or investment decision.  Before making any decision, we recommend you consult a financial planner to take into account your particular investment objectives, financial situation and individual needs.