Welcome to Super Chats, a podcast helping you learn about super. We know super can be complicated, so with Super Chats we want to demystify superannuation so you can tell your binding beneficiaries from your non-concessional contributions.
We asked a few members of the Qantas Super team why they started making voluntary contributions, and the benefits they’ve seen in making those contributions.
According to the Association of Superannuation Funds of Australia (ASFA), around 80 percent of women are currently retiring with insufficient super savings to fund a comfortable lifestyle, with the average balance for women at retirement sitting at around $85,000 less than the average for men. But there are a number of quick, easy things women can do to take control of their super.
Like many things when it comes to your finances, the amount of super you need to live out your retirement dreams depends on your personal circumstances and the goals you have for your time after work.
The ASFA Retirement Standard shows the lump sum amount needed by the average Australian to fund a comfortable or modest retirement – it assumes that the retiree owns their own home, and will draw down all their capital and receive a part Age Pension.
The amount of lost and unclaimed super across Australia has risen to $16 billion, according to the Australian Taxation Office (ATO). This is an increase of $2.1 billion since the last financial year.
Like many things when it comes to your finances, the amount of super you need to live out your retirement dreams depends on your personal circumstances and the goals you have for your time after work.
Whether you’re one of the millions of people who’ve already submitted their tax return to the Australian Taxation Office (ATO) or you prefer to wait until the initial rush dies down, this can be a good time of year to dedicate half an hour to checking your super is in order.
Here at Qantas Super, there’s nothing we love talking about more than superannuation – but even we can acknowledge that’s not exactly the case for most Australians. However, a recent survey found the majority of Australians share a number of core beliefs about the importance of the super system and its effectiveness.
Super was left largely untouched by the government in this year’s Federal Budget ahead of the election, but there are still a couple of changes to super coming into effect on 1 July 2022 that are important to be aware of.
Until you’re on the home stretch with just a couple of years to go, retirement can seem more like an abstract concept rather than something you’ll actually reach. That feeling can then make it difficult to want to put time into understanding your super and how it’s going to work for you in retirement.
If you’re preparing to come back to work or have recently returned, here are a couple of quick things you can do to dust off your super account and make sure it’s in good shape.
