Super tips in your 50s
If you plan to retire in the next 10 to 15 years, you may need to focus more on your super. Consider making extra contributions and reviewing your investment strategy. Be aware that if you make contributions greater than the super contributions caps you will have to pay extra tax.
Super tips in your 60s
From age 65, most people have unrestricted access to their super. However, your investment options remain very important to ensure you have enough money to last throughout your retirement years.
Super tips in your 70s
You can make contributions to your super until you turn 75 as long as you work at least 40 hours in 30 consecutive days in the financial year. Your employer can claim a tax deduction for contributions until you turn 75.
This is something that is often incorrect.
Make sure you check who your listed beneficiaries are!
You may have unclaimed super. You can conduct a free check at Superseeker on the ATO website.
If you would like to know more, or to devise a detailed plan for your retirement, please contact our friendly team.
Based on Australian Taxation Office QC 31885