Mums, you can help your 14+ year old kids check they have all the right plans in place for their future!

Kids – Super is money for your future! If you’re a star and look after your super now you’ll have more money to do the things you want when you retire. Ignore it and you could be missing out.


Here are some things you can check now:


Does your fund have your tax file number (TFN)?

If your super fund doesn’t have your TFN, you’ll pay extra tax on your super and you can’t make personal contributions.

You might also miss out on the government super co-contribution. Contact your super fund to check.


Are you being paid enough super?
Generally, your employer must contribute an amount equal to 9% of your normal pay to your super fund.

This money is paid separately by your employer and does not come out of your pay packet. This will rise to 12% over the next few years.

If you think you’re missing out, the ATO can help. Check out www.ato.gov.au/unpaidsuper  


Want an extra top up?

If you put extra money into your super account you may qualify for the super co-contribution.

This is an easy way the government helps you boost your super by adding more to any personal contributions you make. Check out www.ato.gov.au/boostmysuper


Want to choose your fund?
When you change jobs, think about using the super account you already have.You can usually ask your new employer to use any super account you want, including one you already have. For more information visit www.ato.gov.au/superchoice


Do you have a different super account for every job you’ve had?
Having many different super accounts could mean you’re paying more than one set of fees.

Think about rolling the money into one account and closing any accounts you don’t need. To help you keep track check out www.ato.gov.au/superseeker  


Are you paying for insurance?
Your fund may deduct money from your super account for death and disability insurance. This can affect how much money you end up with in retirement. Contact your fund to see if you are paying extra and if it’s right for you.


Do you check your super every year?

When you get your super statement check:

  • that your contact details are correct
  • your fund has your TFN, and
  • your money is being invested the way you want



SuperSeeker helps you manage your super

SuperSeeker is a secure, convenient service that will help you keep track of and manage your super.

You can see details of the super accounts you’re currently using, as well as some you may not know you had. You can also use a new online form to consolidate all your super accounts.

To find out more, including how to access SuperSeeker see www.ato.gov.au/superseeker


From late 2013 you’ll be able to see all your super in the one place. It will be even easier to interact with your accounts and really take control.

Check out www.ato.gov.au/super

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  • I hear of so many employers ripping off their employees, you really do need to look into these things and ensure it’s being done correctly


  • when i was younger, super was not something that was a big deal or even mentioned. Now we have to encourage our kids to be on it for their futures


  • I cashed in my super a few years ago. Lots of oldies survive on the pension, I’m sure I’ll cope


  • Oh no, I don’t have any super :/ Now I’m getting older, it is worrying, it didn’t used to worry me when I was younger


  • Really very good knowledge to know! Thanks for sharing this article!


  • This is such an interesting article.


  • great tips! thank you, need to get my super cleaned up


  • Great tips and useful advice, I need to look at consolidating a few supers.


  • Some things to look into, good info thank you.


  • I’m a big supporter of Super and have had the same Superfund since I started work 30 years ago, however the amount that is now needed in super if you are to become a self funded retiree has gone through the roof.

    The ATO article has highlighted just how important it is to start contributing into super early – don’t miss out later on in life.

    With all the Government proposals for changes there might not be the safety nets still available when our children come to retire.


  • I need to take a look at super seeker or my own accounts


  • a few things to check into!


  • Super is such an important component of adult life, schools really should teach kids the basics at least


  • thank you sharing this article good read


  • thanks for sharing was a great read


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