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  • Super for individuals

    Super is money set aside over your lifetime to provide for your retirement.

    For most people, super begins when you start work and your employer starts paying a portion of your salary or wages into a super fund for you. These payments are known as super guarantee (SG) contributions or concessional contributions.

    Super funds invest your money in many things, such as shares, property and managed funds. They may also offer different types of insurance, such as income protection.

    Find out about:

    Compulsory super from your employer

    Most people can get compulsory super contributions from their employer – this is called super guarantee.

    There is a minimum amount your employer should contribute, based on your pay. A transitional rate applies to the amount of SG that employers on Norfolk Island pay on behalf of their employees. This starts at 1% on 1 July 2016, and increases by 1% yearly to 12% on 1 July 2027.

    You may be able to choose the fund your super is paid into, or use your employer's nominated fund.

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    Paying more yourself

    You can choose to put some of your own money into your super fund so you have more money when you retire – this is called making personal contributions.

    If you’re on a low income, you may also be eligible for government contributions.

    The amount of tax on your contributions depends on whether the contributions are concessional (sometimes referred to as 'before tax') or non-concessional (sometimes referred to as 'after tax'), and whether you exceed the contribution caps.

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    Keeping track of your super

    If you've ever worked on the Australian mainland, or changed address or job, you may have lost track of some of your super. Having several super accounts could mean that fees and charges are reducing your overall super savings. There are a number of ways to check and manage your super.

    We can search all your super accounts for you if you phone us on 13 10 20. Or you can search yourself online if you have a myGov account linked to the ATO.

    If you have several super accounts, you can combine them into one preferred account to avoid having too many fees and charges. You can do this online too.

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    Accessing your super

    You can get access to your super savings when you reach retirement age and retire or turn 65 years old.

    You can only get earlier access to your super in some special cases, such as a serious medical condition or severe financial hardship.

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    Last modified: 13 Mar 2017QC 51481