Retirement should be one of the most enjoyable milestones in life, and there are a few things you can do in the lead up to retirement to give you more income from your super.
Speak to a financial planner
To make the most out of your move into retirement, make sure you're setting yourself up for the best possible retirement income, by chatting to a financial advisor who specialises in retirement planning such as the ones at your industry super fund.
Ask them about combining super with the age pension, the effect of deeming rates on a pension, and how to best use any end-of-employment payouts and windfalls.
Make some final contributions to your super
If you are under 67 of age, you can make up to three years' worth of voluntary after-tax (non-concessional) contributions to your super, to a maximum of $330,000, as long as no additional after-tax contributions are made in the two years after that.
This means you can make a final top-up to your super, and enjoy the tax benefits on the investment in retirement. You might also be eligible for a super co-contribution.
Plan to be active and connected
After a lifetime of working regularly, many retirees suddenly find all the free time, and loss of responsibility, quite daunting and deflating. Plan to live an active and fulfilling life in retirement by thinking about the things you want to do, the groups you want to join, new skills you want to learn and even old hobbies you'd like to pick up again.
Staying connected to the community, friends and family, and feeling valued as an experienced and capable senior in society is vital for the physical and emotional wellbeing of most retirees.