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Easter and ANZAC Day Public Holidays

All the information you'll need to do your banking over the public holidays this April. Check out our branch and contact centre opening hours, as well as important information about your scheduled payments (Easypays).

step 1

Under 30

Retirement? That’s something your mum and dad talk wistfully about right? While it may seem crazy far away, there are things you can do now which will have a huge effect on your retirement nest egg.

  1. If you have multiple super funds from past jobs, consolidate them all into one account to avoid multiple sets of fees.
  2. If your super fund of choice has one, use their online system to keep track of your progress.
  3. Think carefully about your investment mix – get the balance right between high and low risk.
  4. Consider insurance through your super – this way premiums come out of your super balance, not your back pocket.
step 2

Your 30s

OK, so some things may have changed in your life – perhaps you’re married and have started a family? Now might be the time to check back in to see how your Super is tracking.

  1. Does your young family have enough insurance cover for your comfort level? If not, have a think about increasing your level of cover through your Super.
  2. Are you in a position to be able to sacrifice some of your pre-tax earnings into Super? Every little bit counts, and remember – the snowball effect is real.
step 3

Your 40s

By now, your income may have risen, meaning that the time may be right to carefully consider salary sacrifice through your employer. Any extra money earned or bonuses received can be used to grow your super.

  1. Beneficiaries

    Take the time to review and update your nominated super beneficiaries if necessary.

  2. Salary Sacrifice

    If you opt for salary sacrifice, make yourself aware of the contribution caps limiting how much you can contribute tax-effectively.

  3. Tax Deductions

    Find out if you’re able to claim any tax deduction on your personal super contributions.

step 4

Your 50s

By now your family may be moving out of the nest, meaning that you may have more disposable income to play with – this extra money can be used now to grow your assets. As you begin to see retirement draw closer, you may also be thinking about protecting your super.

  1. Revisit your investment strategy – the choices you made 5 or 10 years ago may not still suit your retirement goals.
  2. Make sure your super beneficiaries are current and updated.
  3. Have a think about an effective salary sacrifice arrangement with your employer, and up your personal after tax contributions if you can, being mindful of the contribution limits in place.
  4. If you’re after a second opinion, or just want peace of mind, reach out to an expert financial planner to review your retirement transition plan.
step 5

60 & Over

Chances are, by now, life has slowed to a more pleasant pace for you. ;)

Your kids have likely left home, and may be starting families of their own, you have more time and money on your hands to pursue leisure and travel. At this stage, your priorities when it comes to super revolve around protection and maintaining your lifestyle.

  1. As retirement approaches, think about your investment strategy, and how this may need to change once you’ve wound up work for good.
  2. You may want to consider starting a pension through your super fund – earnings on pension accounts are tax free.
  3. Provided you’re in a taxed Super fund, Super benefits and pension income is also tax free when you reach 60 years of age.