Making additional contributions
Your income needs in retirement will determine how much you need to save. Research has indicated that there is a gap between expectations and what is actually being saved. For most people, a savings target of at least 12-15% over the longer-term is what should be aimed for, and the earlier you start the better the result.
Making extra contributions to your super can help provide the security you need to enjoy life once you stop working.
There are two main ways of making extra contributions to your super:
- Voluntary contributions made by you from your after-tax salary
- Salary sacrifice contributions made by you from your before-tax salary by agreement with your employer.
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