It doesn’t take much effort to have a significant impact on your super balance. Small additional contributions to your super made earlier in life will make a big difference to the balance of your super account when it comes time to retire.
There are two ways you can make extra contributions to your super: before tax and after tax.
Before tax, you can make extra contributions by ‘sacrificing’ some of your salary. Your take home pay will be less, but your super is only taxed at 15%. If your income tax rate is higher than 15%, then you will pay less tax on that money earned.
After tax, you can make voluntary contributions as lump sum contributions into your REI Super account.
Remember: it’s a lot easier to fund a comfortable retirement while you’re still working. You won’t miss the money as much now as you’ll miss it later!
Find out how to give your super a boost.
Future investment performance can vary from past performance, and you should not base your decision to invest in REI Super simply on past performance. Past earning rates are not an indicator of future earning rates. The investment returns of REI Super are not guaranteed, and the value of the investment may rise or fall.
The information contained in this article does not constitute financial product advice. However, to the extent that the information may be considered to be general financial product advice, REI Super advises that REI Super has not considered any individual person’s objectives, financial situation or particular needs. Individuals need to consider whether the advice is appropriate in light of their goals, objectives and current situation.