White Pages® News

Take charge of your superannuation

February 7, 2012

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It could be one of the most seemingly remote topics in life – superannuation. But did you know there is thought to be more than $18 billion in lost super sitting in funds across Australia¹?

Finding out if you’re entitled to any forgotten funds, while safeguarding your retirement years, makes sense and doesn’t have to be a red-tape headache with the help of White Pages® Online.

Five tips for taking charge of your super:

1. Enlist the Australian Taxation Office (ATO).

Your super fund must have your tax file number. If it doesn’t, you will pay extra tax on your super contributions. Direct any tax-related questions to the ATO by getting its contact details off White Pages® Online Government Search or use the Taxation Shortcut

2. Consolidate your super.

We’ve all been told to consolidate our super accounts at some point in life. With an estimated $130 million in fees deducted from inactive accounts a year² – it is clear why. Stop by the ATO’s SuperSeeker to find and claim your lost super.

3. Invest wisely.

Find out how your super is invested, as a change in investment strategy could earn you big bucks in the long-term and be the difference between celebrating your retirement with a Hawaiian holiday or camping in Coonabarabran. Contact your super provider by getting its contact details off White Pages® Online Business Search or using White Pages® Online Superannuation Shortcut.

4. Get professional advice.

If the financial jargon is making your head spin, consider getting some advice from a financial advisor or your bank. Use White Pages® Online Banking/Finance Shortcut to bring up the contact details of major banks and financial companies in your capital city.

5. Put your super to work.

Finally, make your super work for you by looking into salary sacrifice options at your workplace and enquiring if you are eligible for a co-contribution, where the Australian Government will top up your super fund when you make a voluntary payment.

Although retirement may seem far off, a bit of legwork done during your working years can set you up to live comfortably in your twilight years. With the help of White Pages® Online, getting your super under control doesn’t have to result in a financial meltdown.

^{1 Investor Daily, 26 September 2011
2 SuperRatings media release 12 April 2011}