Seeking professional superannuation advice is vital to ensuring you are maximising your retirement nest egg.
What’s important, though, is not to leave it too late in your working life to turn your attentions to it. The best advice we can give you is the sooner you get on top of your superannuation, the better off you will be.
Chances are that during your forties and fifties you will be at your peak earning potential, so it is the perfect time to be saving more and mapping out your future.
The Collective Financial Partners team has a long and successful track record of delivering personalised superannuation advice that not just meets but exceeds the expectations of our clients. Read on to learn more about our approach.
Superannuation is like a savings account for your retirement. It’s made up of contributions from your employers over the course of your working life and is designed to support your lifestyle when you retire.
Your employer must pay at least 9.5% of your ordinary time earnings into a super fund on top of your annual salary if you are an employee in Australia and meet the minimum requirements to receive the Superannuation Guarantee (SG). Your ordinary time earnings, according to the Australian Taxation Office (ATO), are what you generally earn for ordinary hours of work, including your base salary or wages along with certain bonuses, allowances, and some paid leave.
If you meet the eligibility requirements then you must be paid super, whether you work casually, part-time, full-time, or potentially even as a contractor, and even if you are a temporary resident.
This percentage may change in the future, which is just one of the reasons it’s so important to have a knowledgeable wealth management advisor by your side.
Our team can help you navigate superannuation estimates, finding the correct super fund (including DIY super options), strategies for your super, your (and your employer’s) super responsibilities, the tax benefits of super contributions, how to access your super, and much more.
Super is a crucial part of Australia’s retirement landscape. Internationally, Australia has the 4th largest pension market in the world, according to the Thinking Ahead Institute’s Global Pension Assets Study, and had $2.9 trillion invested in super assets as of September 2020.
Collective Financial Partners is a Hunter-based financial advice business managed by a team with over 80 years combined experience in financial services.
This information has been provided as general advice. We have not considered your financial circumstances, needs or objectives. You should consider the appropriateness of the advice. You should obtain and consider the relevant Product Disclosure Statement (PDS) and seek the assistance of an authorised financial adviser before making any decision regarding any products or strategies mentioned in this communication.
Collective Financial Advice Pty Ltd ATF Lake Macquarie Group Trust ABN 14 710 648 652
Corporate Authorised Representative No. 1286336
Alliance Wealth Pty Ltd | ABN 93 161 647 007 | AFSL 449221
Copyright 2021 Collective Financial Partners
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