Finding the right super fund for you depends on several factors; you may be looking for high performance, low fees, or access to special investments such as ethical and environmental options. Unfortunately, it’s not always clear whether a fund is what it claims – that’s why we use quality third-party research to cut through the noise and find the super fund that’s right for you.

There is no simple answer to this question – as retirement affordability is affected by so many different factors such as the age at which you retire, your overall wealth, your eligibility for government support or pensions and what your cost of living and expenditure goals are in retirement. For these reasons, the level of super you need to retire will be unique to you. We work with our clients to put the whole retirement planning puzzle together to understand when they have saved up enough of a nest egg that will allow them to retire comfortably.

Some of the important questions to ask if you are trying to speed up how fast your super balance is growing include:

• What is your super invested in?

• What fees and deductions are coming out of your super account?

• What contributions are being made by you or your employer?

Remember that there are always trade-offs and considerations to think about too, for example if you are seeking higher investment returns you will generally need to take on higher risk. Working with an adviser can help balance these considerations and guide you toward reaching a healthy super balance at the right time.

11% is the minimum Super Guarantee (SG) rate in the 2023/24 financial year, this will to increase to 12% by 2025/26 financial year. Your SG contributions can be an important part of securing a successful retirement, however you may need to consider making further contributions to meet your ideal retirement goals.

In the 2026/27 financial year, the general annual contribution caps are:

• $32,500 for pre-tax / concessional contributions

• $130,000 for after-tax / non-concessional contributions

However, your ability to make super contributions in any given year may be more or less than these general caps and is subject to eligibility criteria. Our expert knowledge of the current rules and caps can help you maximise your contributions without exceeding the cap.

The most important factor in growing your investment is time. The sooner you contribute to super, the more time your investment will have to grow with compounding interest. However, we understand that younger clients have other considerations such as paying down debt or raising a family. We can help people balance these competing needs so that the short, medium and long term goals can all be fully funded.

Generally, to access your super you need to be retired and reach your preservation age; this is somewhere between 55 and 60, depending what year you were born. However, there are options for accessing your super if you have reached preservation age and haven’t retired, or are facing significant financial distress. If you’re thinking about accessing your super benefits, we can help you weigh up the pros and cons.

It’s a common misconception that accessing your super benefit means you cannot return to work, but it is not necessarily the case. However, accessing your benefits too early can carry tax implications, and may inhibit your ability to retire comfortably. We can help you work out when you’ll be able to retire, and what steps can get you there.

Many Australians may not realise that they have more than one super fund, often from working different jobs. Currently there are rules in place to help people automatically consolidate their lost super, but if you want to check for yourself, the easiest way is to check your ATO records in MyGov. Importantly, you should consult an adviser before rolling over these funds, as it could result in benefits such as insurance being lost.