Your super fund comes from contributions made by your employer, and also, ideally, topped up by you. The government can also
sometimes add to this through co-contributions.
For most people, your employer is required by law to pay 9.5 per cent of your salary into a super fund. This is called the Super
Guarantee and it gradually accumulates during the course of your working life, through your continued earnings and also
through investment earnings.
The Oncore Wealth Solutions?team can help you work out the best super fund for your circumstances, to ensure optimal
savings for your retirement (please note, there are some people who are unable to choose their fund due to industrial agreements etc).
Super – what you need to know
- Tax advantages – Super is taxed at a lower rate than other long-term investments, so for most people it is a more efficient way of saving. For some people, salary sacrificing into super can also offer tax advantages.
- Consolidating super funds – There are currently billions of dollars of unclaimed super funds in existence. The Oncore Wealth team can help you find these hidden funds and then consolidate them to ensure you receive maximum return on your super investment.
- Insurance through super – By packaging up your Super with life cover, total and permanent disability cover and income protection insurance, Oncore Wealth Solutions can offer you more affordable insurance rates.
- Government top-ups – If you are willing to contribute some of your after-tax earnings to your Super Fund, you could receive a co-contribution from the government (depending on your earnings).
- Contributions – You can commit after-tax contributions to your super, but it is important to first understand the contribution caps, which could lead to tax charges. We?ll help you decide the right contributions for you.
Oncore Wealth Solutions can help you decide:
- How much should I contribute?
- How much can I expect when I retire?
- How much insurance should I have?
- Should my insurance reside inside of superannuation?
- What type of investments should I choose?
- Can I consolidate other superannuation funds?