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Let little things grow

Superannuation is like many things in life that require time and patience before we see our reward.  

You may not see your super savings as something big just yet, but over time the magic of compound interest from your super fund investing your regular contributions from your employer will create more money and a super retirement. 

In fact, many people just starting work today could end up retiring with $500,000 and that’s thanks to compulsory superannuation contributions saved and invested over their working lives.^ 

How does it work? 

If you work for a company or organisation, generally your employer must pay money into a super account in your name, which is then managed by a super fund. Currently your employer must contribute 11% of your income. This is called the super guarantee and it's the law. 

Over the course of your working life, the contributions made and invested by your super fund add up with the aim of growing them even further.  

That’s why it’s important to be in a good performing super fund from a young age. The longer you are with a fund with strong investment performance, the more money you’ll have when you retire. 

Boost your super balance  

There are some simple, and often tax-effective, ways to boost your super balance, so you’ll have more for retirement. 

  1. Make sure you are being paid all your legal entitlements. Unpaid superannuation impacts 3 million workers a year – costing them a total of $5 billion. 
  2. If you think you have more than one super account check to see if you have any lost or unclaimed super you didn’t know about.
  3. Consolidate your super into one account and save on multiple management fees.
  4. Compare your existing super fund with others in the market and ask yourself if your fund is meeting your needs. Fees and investment performance are important factors to consider. Being a member of an Industry SuperFund puts you ahead of the others because of their low fees and strong performance history (of course remember that past performance is not a reliable indicator of future performance). 
  5. If you’re on a lower income make an after-tax contribution to your super and reap the benefits of the Federal Government’s Co-contribution scheme. If you’re on an average or higher income make a before-tax contribution to your super – known as salary sacrificing – and take advantage of the tax benefits.

Industry SuperFunds 

There are nearly 5 million members of an Industry SuperFund. That’s because they are run only to profit their members and have a history of strong long-term performance*. Industry funds’ fees are also usually on the lower side compared with retail funds. You can check out all of the Industry SuperFunds here

Choose an Industry SuperFund
See all of the Industry SuperFunds here

*Past performance is not a reliable indicator of future performance and should never be the sole factor considered when selecting a fund.  


^ Industry Super Australia modelling forecasts that a 30 year-old on average wages could have more than $500,000 at retirement. 

To learn more about one of the Industry SuperFunds below click on their logo.