Your super isn't always top of mind when you're focused on juggling work, family life, and the many other responsibilities of adulting. But taking an active interest in your super now, can set you up for the lifestyle you want in the future.
New research from Moneysmart has revealed the concerning trend that nearly half (48%) of surveyed millennials admit they are not knowledgeable about maximising their super. That's why Moneysmart's new campaign aims to drive awareness about why focusing on superannuation earlier is good for your long-term financial health.
When it comes to your super, extra contributions are just one option for growing your future wealth. Check out these other ways to secure a better financial future.
Simple steps to manage your super
Check you're being paid the right amount of super
The super guarantee (SG) is now 11.5% of your income. To see how much your employer is paying you, look at your payslip or call your super fund.
How to calculate your super payments
Make sure your super fund can contact you
Your fund will use your email address and mobile number to send you important updates, including your annual statement. Reading your annual statement is a good way to stay connected with your super.
What to check in your annual statement
Check your insurance cover
Most super funds provide life cover and TPD insurance for their members. Make sure you're only paying for the insurance you need.
Tips for choosing insurance through super
Consider combining your super
Moving your super into one account makes your super easier to manage and saves on fees. You can transfer your super for free in a few easy steps.