What if my employer isn't paying super?

Check you're eligible for super first (if you're a contractor you may not be eligible for super). Then, speak to your employer or HR department. If you have no luck with this, you can report your employer to the ATO who will investigate for you.

Does superannuation come out of my salary?

No, superannuation doesn't come out of your salary or wages. Your employer pays your super seperately into your nominated super fund.

When can I access my super?

When you're retired, you can start withdrawing the money from your super fund. However, you can't simply retire at age 35 and gain access to your super. You also need to meet a minimum age requirement. For anyone born after 1964, the minimum age you can access your super is 60. There are some situations where you can gain early access to your super ; however, these are mostly in extreme circumstances.

How is superannuation taxed?

Super contributions are generally taxed at the concessional super rate of 15%. This is often lower than your income tax rate. Additional voluntary concessional contributions you make are also taxed at this rate, until you reach your annual contribution limit.

What is a Unique Superannuation Identifier (USI)?

The USI is a number that is used to identify your super fund, and is often required from your employer so they can be sure they're paying your money into the correct fund. You can find your super fund's USI by doing a quick Google search, or by looking at a recent account statement.

What's the best super fund to pick?

The best super fund will be different for each of us but will always have low fees, high returns and investment plus insurance options that suit you. If you need a bit more help, our best super fund picks could be a good place to start.

What if I leave Australia?

If you're a permanent Australian resident and you decide to move overseas, your super will remain locked until you reach retirement age. If you earned superannuation while working in Australia on a temporary visa, you can apply to have your super released when you leave. You will need to pay tax on this. You can find more information on this by visiting the ATO .

What happens to my super if I change jobs?

Your super will come with you form job to job. When you start a new job, let your employer know your super account details so they can pay your super contributions into your existing fund.

How does super work if I'm self employed?

If you're self-employed, you're not legally required to pay yourself the super guarantee. However, it's definitely a good idea to pay yourself regular super contributions to ensure you have enough retirement savings. You can make contributions into your super fund just like a standard bank transfer.