Contributing to your super
Throughout your years of employment, it is important to build your super to support your needs in retirement.
Who can contribute?
Other than compulsory employer contributions (superannuation guarantee contributions and contributions specified by an EBA) for Employee Members, a contribution may only be made into your super by you, or for you, if you are:
- Under 65 years of age; or
- Aged 65 to 75 years and have been gainfully employed during the financial year in which the contribution is made for at least 40 hours over a consecutive 30 day period.
Spouse contributions cannot be made for you from age 70.
Types of contributions
Concessional (before-tax) contributions
Employer contributions and any contributions made from before-tax salary:
- Employer contributions. Divisions 3A, 5, 6, 7 and 10 Employee members only. Minimum contributions are required to be made by your employer under the Superannuation Guarantee (Administration) Act 1992 (SG) to a complying super fund. Your minimum contributions may be greater than the SG requirements due to your entitlement to an employer agreed minimum amount. Contact Qantas People Services if you are unsure of your minimum super contributions.
- Employer contributions: Divisions 1, 2, 3, 4, 12, and 15. Read more.
- Personal contributions made from before-tax salary. Employee members only. If permitted by Qantas Airways Limited, you can ask your employer to deduct extra money from your pay before tax is taken out. This is called a salary sacrifice contributions.
Qantas Super does not accept concessional (before-tax) contributions for Spouse Members or Retained Members. In addition, self-employed contributions, where you intend to claim a tax deduction are not accepted for any members in Qantas Super.
Non-concessional (after-tax) contributions
Contributions made from after-tax salary where a tax deduction is not claimed, such as:
- Personal and spouse contributions. You or your spouse can make contributions from after-tax monies.
The Government has a scheme to help people on low to middle incomes save for their retirement. If you’re a low or middle income earner the Government will contribute extra money to your account (up to $500 annually) to your account if you contribute your own money after-tax and meet certain rules. For more information, refer to our Government super contributions fact sheet.
Low income super contribution
The Government will make a contribution (up to $500 annually) of 15% of eligible concessional contributions (including employer contributions) made up to and including 30 June 2017, by or for individuals with an adjusted taxable income of up to $37,000. For more information, refer to the Government super contributions fact sheet.
You can rollover your other super into Qantas Super
Having all your super in the one fund means you won’t pay multiple fees to different funds. It may also make managing your super easier, save you time and may mean you’re less likely to lose track of your super. To rollover other super into your Super Account, simply lodge a rollover request by logging into your account online and we’ll arrange it with your other super fund. Or complete the relevant form available on our forms page and return it to us. (Note: Tax may apply to rollovers from some Government super funds. Please read the disclosure material relevant to your division).
The Government has set limits, called contribution caps, on the amount of concessional and non‑concessional contributions you can make into super.
If you exceed these limits you may need to pay additional tax. For more information about the caps on contributions to super, refer to the relevant fact sheet.
|ALERT: Only you can monitor the level of contributions made to all of your super funds against your contribution caps. Neither the Trustee nor your employer is able to do this on your behalf.|