Your Superannuation is your future. Super, is money set aside during your working life in preparation for your retirement. Your superannuation fund, for most people, should start up when you start working, you employer start paying a percentage of your wages/salary into a superannuation fund for you.

Employer payments are known as concessional (pre-tax) or super guarantee contributions. These payments are the most common way in which a superannuation fund starts and grows through the owners working life. There are however ways in which superannuation can work better for you, investing the funds in appropriate portfolio structures and investigating your position continuously can help to benefit you for retirement. These funds are yours – unable to be accessed until retirement, or hardship – to invest and grow.


The government opened the access rules temporarily in the year 2020 so those that have been affected by the Coronavirus are able to support themselves during the stressful time. This has meant that individuals have taken from their retirement fund, and although it is helping to support the current lifestyle, it may not be helping towards their retirement goals.

If a withdrawal has been made from your Superannuation account, the important thing is to try and get these funds back into the account. This can be done through a couple of different ways, the most common being Salary Sacrifice. This is where a nominated portion of funds is taken from your gross pay each pay cycle and added to the funds paid into your superannuation. Salary Sacrifice agreements are set up through your employer and can help in reducing your payable tax.

If you would like advice on Salary Sacrifice or recontribution strategies or investing your superannuation in an appropriate way for you, please contact your financial adviser as they will be able to assist in providing personalised advice.

If you require help with understanding what’s best for you, the team at Superannuation Advice Australia can help.  Contact us today!