Build your nest-egg
We have produced a Financial Guide which you can download that covers the topics on this page. Download a copy of our guide – Build your retirement nest egg.
Have you ever imagined what your retirement will be like? As the super contributed into your account today is the foundation for your financial security tomorrow, it makes sense to consider giving your super account a little boost whenever you can along the way. There are a number of different ways that you can give it that little nudge in the right direction. Every little bit you add now can make a significant difference down the track.
Make a personal contribution
Your employer is not the only one who can contribute to your super. You can consider making a contribution direct from your savings. Depending on your income, you might even be eligible for a Government Co-contribution. Download a copy of our Personal Contribution Form today.
Government Co-contributions
If your gross assessable income and reportable fringe benefits is less than $58,980 for the 2007/2008 financial year (this amount may change from time to time) and you have put any of your take-home pay (after-tax contribution) into your super account during the year, you may qualify for a Co-contribution payment. How much the Government contributes depends firstly, on your income, and secondly, on how much you personally contribute to your super.
Note that the Co-contribution does not apply to extra super contributions from your gross pay, such as a salary sacrifice arrangement with your boss. It only applies when you put money into your super from your take-home pay. Find out more about the Government Co-contribution Scheme.
Arrange a Payroll deduction
Ask your employer if they will make a personal contribution for you through a payroll deduction. Typically all you need to do is complete an authorisation form and give it to your employer. Download a Payroll Deduction Form now.
Please note that any (after tax) personal contribution deducted from your wages must be contributed by your employer to your fund within 28 days from the end of the month in which they were deducted (under legislation). Any (before tax) salary sacrifice contribution can be paid in line with the employer SG contribution which can be paid within 28 days from the end of the quarter (three months) in which they were deducted.
Salary sacrifice
Some employers will allow you to sacrifice some of your salary into super. This is an arrangement between you and your employer where you consent to reduce your gross salary (future earnings) by a nominated amount and your employer increases their super contributions by an equivalent amount. If you set up a salary sacrifice with your employer make sure that it is in writing and make sure it details how your other benefits will be affected if your gross salary changes.
Consolidate your Super
Do you have money in several super funds? Having more than one super fund could be costing you more than you think. Each fund may be charging you administration fees and you may have several statements to sort through each year. Why not transfer all your other super into LUCRF Super now? You will get one simple annual statement and pay one administration fee. Download an ATO Portability Form below and consolidate all of your super.
Forms
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Personal Member Contribution Form
Use this form, where you are already a LUCRF Super member, to make direct, personal after tax contributions to your LUCRF Super account.
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Payroll Deduction/Salary Sacrifice
If your employer allows salary sacrifice to LUCRF Super to be deducted from your pay please complete this form and hand it in to your payroll officer.
Download » Brochures
