Give your career a health check

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Give your career a health check

Health… check. Finances… check. Career… check?

Are you happy at work? Do you jump out of bed excited about tackling your next project? Or are you counting down the days until your holidays or retirement?

If you answered ‘yes’ to the last question, it might be time to give your career a health check. We all know the benefits of having regular medical check-ups but, just like your body, your career needs a regular review to make sure you’re on track to meet your goals.

Do a career health check

The average time Aussies spend in a job is about 3 years and 4 months (as at June 2014)1 so if you’ve been in your job for more than three years, now might be a good time to give your career a quick health check.

But before you hit the search button on your favourite recruitment site, take time to work out what you really want to do – then you’ll have more chance of finding, or working towards, the job that will make you happy.

Here are some tips for a career health check:

  1. Take your pulse. List your top three work achievements over the last year. If you’re struggling to come up with any, think about where you want to be in five or ten years’ time. Will your current job get you there?
  2. Check your vital signs. List the top five reasons (in priority order) you’re in your current job. If you’re ranking your bonus and long-service leave higher than your job satisfaction, then things might be a little out of balance. It might be time to ask yourself whether you’re at the right place in your career.
  3. Take your own medicine. Think about how you could improve your career prospects:
  • Refresh your personal brand – update your LinkedIn profile, write a blog or upload articles which are relevant to your career.
  • Update your resume with your recent achievements. Make sure they match the type of work you’re looking for.
  • Do you need to study, get some training or update your skills?
  • Attend professional development events, workshops, seminars and conferences.
  • Join professional associations to meet like-minded people in your industry.
  • Collaborate in online forums where you can show your expertise on a subject.

Should you stay or should you go?

It’s one of the hardest questions to answer. Can you achieve your career goals where you are or do you need to look for a fresh start somewhere else?

If you’ve built up a solid reputation at your current employer, consider applying for a different role at the same company to give you a new challenge.

Perhaps you want more life/work balance? If so, you could consider working part-time, as a consultant or doing freelance jobs.

But if you still feel as though you’re just going through the motions, it could be time to get on the front foot and take action. A career health check could help you to keep you on track, reignite your spark and help you get (and keep) the job you’ve always wanted.

  1. http://mccrindle.com.au/the-mccrindle-blog/job-mobility-in-australia

 Important information

© AMP Life Limited. This provides general information and hasn’t taken your circumstances into account. It’s important to consider your particular circumstances before deciding what’s right for you. Although the information is from sources considered reliable, AMP does not guarantee that it is accurate or complete. You should not rely upon it and should seek qualified advice before making any investment decision. Except where liability under any statute cannot be excluded, AMP does not accept any liability (whether under contract, tort or otherwise) for any resulting loss or damage of the reader or any other person.

What’s your debt age?

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What’s your debt age?

The types of debt we have largely depends on our age and stage in life.

For most of us, having debt in some form or another is an inescapable fact of life. And despite its reputation, debt is not necessarily a dirty word. If managed well, it can be a powerful tool to build wealth, and good debts, such as those used to invest in an asset which increases in value – like property or shares – can do just that.

Borrowing to fund a lifestyle you can’t really afford, for big ticket items such as new cars and holidays, is an example of bad debt. It’s not always possible to avoid bad debt, but you should try to minimise it.

Often the types of debt we have at 20 are very different to those we have at 50.

Read on to discover the most common types of debt held by your peers, from the AMP.NATSEM report – Buy Now, Pay Later: Household Debt in Australia, and see if your financial circumstances match your debt age.

Starting out – under 30s

Younger people have the highest proportion of student debt as a percentage of their total household debt – at 8.3%.

This is because many students defer the cost of uni fees by accessing the HECS-HELP or FEE-HELP loan schemes, which they only need to begin to repay when their earnings meet the minimum repayment threshold.

This age group also has the highest proportion of personal loan debt – representing 5.4% of their household debt – with these higher interest, short-term loans used to fund purchases such as cars, holidays and other consumer products.

Perhaps surprising is that home loan debt is the largest contributor to household debt in this age group, at 58.3%, signalling that many young people are making it onto the property ladder.

Accumulators – 30 to 50 year olds

Home loans dominate household debt amongst this group, accounting for 62.8%.

Investor debt also begins to increase among accumulators as a way to build wealth through taking out a loan to invest in shares or property, representing 31.7% of all household debt; while student loans, credit cards and personal loans barely rate, all at less than 3%.

Pre-retirees – 50 to 65 year olds

Investor debt (46.3%) overtakes home loan debt (45.9%) as the biggest contributor to household debt in the pre-retiree group, who are paying down their home loans and looking to grow their wealth as they approach retirement, through investments in property or in shares.

Retirees – over 65s

Many retirees own their own home outright, reflected in the fact that home loan debt comprises only 28.2% of total household debt for this age group.

Compared to the other age groups, retirees have had a longer time to pay off their home loans, while some may have also used their super to pay it off completely. But compared to the past, more retirees are carrying more home loan debt over into retirement, with this figure up from 19.6% in 2004.

Investor debt represents 59.7% of household debt for people aged over 65, while retirees are also among the biggest carriers of credit card and personal loan debt, at 5% and 5.1%, respectively, perhaps reflecting their propensity to travel – or a need for additional cash to fund their retirement.

Tools and resources to help you manage your debts

Regardless of what type of debt you have – or its size – managing it effectively is crucial. As a first step, it’s a good idea to have a budget to get a clear picture of your financial situation.

Once your budget is in place, you can consider your financial goals.

If reducing your debts is one of these, the AMP debt reduction calculator could help, or seek financial advice to devise a strategy to keep your repayments on track so you can be debt-free.

 Important information

© AMP Life Limited. This provides general information and hasn’t taken your circumstances into account. It’s important to consider your particular circumstances before deciding what’s right for you. Although the information is from sources considered reliable, AMP does not guarantee that it is accurate or complete. You should not rely upon it and should seek qualified advice before making any investment decision. Except where liability under any statute cannot be excluded, AMP does not accept any liability (whether under contract, tort or otherwise) for any resulting loss or damage of the reader or any other person.

ATO Scam

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Telephone calls alleging fake arrest warrants used to scam money.

Scammers have recently been calling Australians telling them that there is a warrant out for their arrest. Many people have reported to SCAMwatch that messages have been recorded on their answering machines asking them to call back later. One of the telephone numbers provided is 02 6100 3027, among many others, and they ask you to call during office hours to discuss the matter further. However, the telephone number has no connection with the Commonwealth Director of Public Prosecutions, Australian Taxation Office or any other state or commonwealth department.

The scammers may spin a range of stories about why an arrest warrant has been issued, including that you have failed to pay taxes.

Scammers typically ask for money to be sent via wire transfer as it’s nearly impossible to recover money sent this way. They may also ask for people’s financial and other personal details to access their money and use this information to commit other scams.

Be on guard, if you receive a phone call from someone saying you have an arrest warrant and asking you to pay a fee, hang up and do not respond. If in doubt, don’t use the contact details provided – look up the government department or organisation yourself in the phone book or online and phone or email them.

How these scams work

  • You receive a call out of the blue from someone claiming to be from the Commonwealth Director of Public Prosecutions or the Australian Taxation Office.
  • The call may sound like it is an automated message with an American accent.
  • The caller or sender will claim that you have an arrest warrant for some reason.
  • The scammer will ask you to telephone a number that appears to be Australian but is likely to be a VOIP number.
  • One of the numbers reported is 02 6100 3027. This is not the correct number for the CDPP.
  • The scammer will tell you that in order to resolve the matter you will need to pay a fee.
  • You may also be asked to provide your bank account details or other personal information so they can confirm they have the right person.
  • If you send any money via wire transfer, you will never see it again – it’s nearly impossible to recover money sent this way. You will also never receive the promised rebate or refund.
  • If you provide your bank account details or other personal information, the scammer may use it to commit identity theft or to steal your money.Protect yourself

     

  • If you receive a phone call or email out of the blue from someone claiming to be from the Commonwealth Department of Public Prosecutions or Australian Taxation Office telling you about an arrest warrant, hang up.
  • If you have any doubts about the identity of any caller who claims to represent a government department, contact the body directly. Don’t rely on numbers, email addresses or websites provided by the caller – find them through an independent source such as a phone book or online search.
  • The CDPP is advising people to be vigilant when receiving phone calls of this nature and if in doubt about the authenticity of a call that you receive from the CDPP, contact them on one of the publically listed phone numbers (link is external) or email inquiries@cdpp.gov.au (link sends e-mail).
  • Never send any money via wire transfer to anyone you do not know or trust.
  • Never give your personal, credit card or online account details over the phone unless you made the call and the phone number came from a trusted source. If you think you have provided your account details to a scammer, contact your bank or financial institution immediately.You can report scams to the ACCC via the SCAMwatch report a scam page or by calling 1300 795 995.
  • Report

Buying your first home.

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Abolishing stamp duty for first home buyer purchases under $600,000

Buying your first home is getting harder. House prices are rising and the upfront costs – a deposit, stamp duty and fees – can be a huge hurdle.

To help first home buyers, we’ll completely abolish stamp duty for both new and existing properties under $600,000. First home buyers purchasing a property between $600,000 and $750,000 will also receive a tapered discount.

With an average saving of around $8,000, it will give first home buyers an advantage, and more money to put towards the purchase of their home.

This measure will help more than 25,000 people each year at a time when they need it most.

It’s all about putting first home buyers on a level playing field with investors.

These savings are in addition to the existing First Home Owner Grant, and will cost an estimated $851 million over the next 4 years. These changes will apply from 1 July 2017.

Young farmers will continue to be eligible for Victoria’s unique stamp duty concession on the purchase of their first farm – a concession only available in Victoria.

This will be administered by the State Revenue Office.

First home buyers – new house

Jon and Anne are first home buyers purchasing a new two-bedroom house in the western suburbs of Melbourne for $575,000. They would have paid $14,785 in stamp duty, partly offset by their First Home Owner Grant. Under the Government’s proposal, they will pay no stamp duty at all – allowing them to put their savings towards paying off their new home.

First home buyers – existing house

Rashid and Emma are first home buyers purchasing an existing townhouse in the middle suburbs of Melbourne for $650,000. They would have paid $34,070 in stamp duty, equivalent to more than 5% of their home value. Under the Government’s proposal, their stamp duty will be reduced to $11,357 saving the couple $22,700.

2017 – a list of lists regarding the macro investment outlook

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Despite a terrible start to the year and a few political surprises along the way, 2016 saw good returns for diversified investors who held their nerve. Balanced super funds had returns around 7.5%, which is pretty good given inflation was just 1.5%. 2017 is commencing with less fear than seen a year ago but there is consternation regarding Donald Trump’s policies, political developments in Europe and the growth outlook. This note provides a summary of key insights on the global investment outlook and key issues around it in simple dot point form.

 

Read More

Chewy ANZAC Biscuits

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    With ANZAC day upon us, here is a simple recipe for a delicious chewy biscuit to go with your tea or coffee.

 

         Ingredients

  • 1 cup rolled oats
  • 1 cup plain flour
  • 2/3 cup brown sugar
  • 2/3 cup desiccated coconut
  • 125g butter, chopped
  • 2 tablespoons golden syrup
  • 1/2 teaspoon bicarbonate of soda

    Method

  • Step 1
  • Preheat oven to 160°C/140°C fan-forced. Line 3 baking trays with baking paper.
  • Step 2
  • Combine oats, flour, sugar and coconut in a bowl. Place butter, syrup and 2 tablespoons cold water in a saucepan over medium heat. Stir for 2 minutes or until butter has melted. Stir in bicarbonate of soda. Stir butter mixture into oat mixture.
  • Step 3
  • Roll level tablespoons of mixture into balls. Place on trays, 5cm apart. Flatten slightly. Bake for 10 to 12 minutes or until light golden (see note). Stand on trays for 5 minutes. Transfer to a wire rack to cool completely. Serve.

Why banks & agents value your home differently

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Have you ever wondered why a home can be listed for one price, valued at another, lender-valued at yet another price and then sold for a figure that leaves everyone scratching their heads?

How can one property have umpteen different prices? How do you know which price is right? Let’s walk through a hypothetical home and see if we can shine a light on the price confusion.

A tale of five prices

Meet the Smith family. They own a home in the city, but are keen for a sea change and plan to buy a property on the coast.

They call their bank to arrange refinancing their home so they can release money to pay for a deposit on their next home.

They also phone their local real estate agent and ask for a price appraisal before deciding to take their home to market. It sells under the hammer at auction. Meanwhile their local council rates notice arrives in the mail and they must pay it before leaving their residence.

Mrs Smith is packing boxes for moving day when she realises her family home has five different ‘prices’, including her personal assessment of its real value. She wonders if she somehow sold for the wrong price.

Why do these variations exist?

 

The bank value

If your home is or will be mortgaged, your lender will almost certainly need to value it. This gives the lender confidence your asset offers ample security against the borrowed amount if, for some reason, you cannot pay your mortgage and the lender must sell the property to recoup its debt.

It is therefore unsurprising that a bank valuation will usually be conservative, sometimes 10%-20% less than the current selling prices of comparable homes.

A bank valuation will usually be conservative.

In this case, the Smiths’ bank assesses their home and decides its value is $500,000.

The selling agent’s price appraisal

Real estate agents are commonly asked to assess the market value of your property. This will often help a vendor decide who to engage to sell their home.

Before being chosen to act on a vendor’s behalf an agent will typically inspect the home and research comparable sales in the local suburb or town before producing written feedback and a sale price estimation such as “between $X and $X” or “from $X”.

This price guide is useful to a vendor when deciding what price to advertise.

The Smiths’ agent conducts his inspection of their home and, based on current strong demand for three-bedroom sandstone homes under 1km from the local primary school, estimates it will sell for $550,000 to $600,000.

The sale price

Regardless of whether the property is sold via private sale or auction, the price the successful buyer is prepared to pay, and the vendor is willing to accept, on the day the contract is signed is the property’s legally binding sale price.

Hot markets, high demand in certain areas and a big turnout on auction day can all have an effect on the final sale price for a property.

In our scenario a big crowd attends including eight enthusiastic buyers. Bidding is active right from the start and the price quickly surpasses even the agent’s optimistic appraisal. The hammer falls on a bid of $630,000.

 

The final sale price of a property can depend on a number of factors, including a big turnout on auction day.

The local council’s valuation

Every year when a property owner gets their local municipal rates bill they will see on the notice a Capital Improved Value (CIV), site value, net annual value (NAV) and/or gross rental value (GRV).

These figures are calculated using varied methodology including comparable sales data and the bi-annual figures from the State Valuer-General’s offices.

Councils, and water and fire authorities, use these figures to work out how much homeowners owe them for using their infrastructure and services.

According to the Smiths’ rates notice, their property has a CIV of $480,000 – the value of the land and any capital additions such as a house – and a Site Value of $280,000 – land value excluding buildings.

The homeowners’ price

Every property owner will have a ‘wish price’ in their minds when they come to sell.

They usually also have a ‘this-is-the-lowest-I-will-go’ price and usually both of these price points are based on a home’s location, aspect and features, but sometimes vendor price expectations are also influenced by emotion rather than facts.

Mr and Mrs Smith really didn’t know how to price their much-loved family home when they came to selling it.

Every property owner will have a wish price in their minds when they come to sell.

They had been studying price data for their neighbourhood, which showed a median price of $510,000 for three-bedroom houses in their suburb over the past 12 months.

Mrs Smith thought their home’s sale price should reflect the median price figure, but Mr Smith thought the new pool they’d installed last year should add at least another $50,000 to their home’s sale price.

In the end the market will usually decide a property’s value by what a buyer is willing to pay for it at auction or through private sale.

Seven tips to travel on a budget

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Careful planning can help you enjoy a great holiday, whatever your budget.

Does it feel like ages since your last holiday? Maybe with responsibilities like paying off your credit card, saving for your first home, or paying back your university fees, your next holiday still seems a long way off…

Well, don’t despair. There are plenty of ways to take a break without breaking the budget.

  1. Go social—Check out travel hubs like Trip Advisor and The Savvy Backpacker to decide where to go, what to look for and how to get the best bargains once you arrive.
  2. Keep your eye on the exchange rate—Before booking an overseas holiday work out what your Aussie dollar is worth in other currencies. Why? The recent fall in the value of our dollar means holidaying overseas may be more expensive than you realise. It may be worth looking at local holiday options too.
  3. Get the best deal—Compare prices using online aggregators like Skyscanner, Webjet and Wotif and sign up for e-newsletters from travel providers to find out about specials. Check out Channel Nine’s hottest Getaway travel deals, which feature different holiday deals on a weekly basis.
  4. Go at the right time—Take advantage of earlybird deals and avoid school or public holidays.
  5. Travel with friends or family—More people can mean more savings on tours, car hire and hotel rooms.
  6. Package it up—Combine airfares with accommodation, day tours and even meals to save money ahead of time and avoid nasty surprises if the exchange rate changes.
  7. Start saving—Become savvy at saving by looking at how successful savers go about it. Then why not use some handy tools to help you along, like AMP’s savings calculator, MoneySmart’s TrackMySPEND app or check out MoneyBrilliant, all of which can help you organise your personal finances.

And don’t forget wherever you’re going next—planning makes perfect!

Important information

© AMP Life Limited. This provides general information and hasn’t taken your circumstances into account. It’s important to consider your particular circumstances before deciding what’s right for you. Although the information is from sources considered reliable, AMP does not guarantee that it is accurate or complete. You should not rely upon it and should seek qualified advice before making any investment decision. Except where liability under any statute cannot be excluded, AMP does not accept any liability (whether under contract, tort or otherwise) for any resulting loss or damage of the reader or any other person.

What’s worth more – your belongings or your livelihood?

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At least one in five of us will be unable to work due to injury or illness in our lifetime, yet we’re still more likely to insure our car than our most important asset–ourselves.

You might have the attitude ‘she’ll be right’ but looking at the statistics, there is more chance of something going wrong than you might think.

Over 80% of Australians insure their car but less than a third of us have income insurance should we have an accident and be unable to work1.

How invincible are we really?

It’s estimated that at least one in five Australians between the ages of 21 and 64 will be incapable of working at some point due to an unforeseen accident, injury or illness2.

Despite this, almost 95% of the population is underinsured, meaning we could be setting ourselves up for real financial difficulties should something happen3.

 

Here are some national figures to put it into perspective:

  • Every year 236,000 people of working age suffer a serious injury or illness4
  • 18 families in Australia lose a working parent every day of the week5
  • 50,000 Australians have heart attacks every year6
  • One third of women and a quarter of all men are diagnosed with cancer7
  • More than 1,600 people die on Australian roads every year, most aged 26 to 598
  • A stroke occurs every 12 minutes across the country9.

Debunking the myths

The national Lifewise campaign set the record straight on a number of misconceptions believed to be part of the reason behind why Australia is underinsured as a nation. These include:

  1. The government will look after me if something happens Centrelink pays benefits, but it might not be enough to cover your current lifestyle.
  2. Workers’ compensation will cover me This only covers incidents that occur during work hours or illnesses that are a direct result of your employment.
  3. Life insurance is not affordable For most Australians insurance is affordable and can be paid via monthly premiums. If you want a quick estimate, AMP’s online calculator can help you crunch the numbers.
  4. Life insurance companies don’t pay claims Insurers pay out almost $10 million every working day in claims.
  5. I’ve already got enough insurance Research shows 60% of families with dependent children don’t have enough insurance to cover household expenses for a year if the family bread winner were to pass away.

What types of cover are available?

Insuring yourself and your income can allow you to maintain your lifestyle and living arrangements, and give you comfort in knowing you can still meet your financial commitments—things like mortgage, rent, card repayments, bills, kids’ education fees, and treatment and rehabilitation costs should you need it.

You can buy different forms of personal insurance through your super fund or via an insurance company. Here’s a rundown of the four main types of cover available:

  • Life insurance pays a lump sum on your death or the diagnosis of a terminal illness
  • Trauma insurance pays a lump sum on the diagnosis or occurrence of a specific illness
  • Income protection provides a replacement income of up to 75% of your regular income if you’re unable to work due to illness or injury
  • Total and permanent disability (TPD) pays a lump sum if you become disabled and are unable to ever work again.

What AMP’s doing in this space?

In 2014, AMP paid more than $887.6 million in claims across its life, trauma, income protection and TPD policies. The age range of those making a claim varied from six years old to 88 years old.

The important thing to understand is why insurance might be necessary for your situation, whether that includes a partner or children, and how much you need so you are not under or over insured.

Need help?

Speak to us today.

 

1 www.lifewise.org.au/facts-research#sthash.fSaAIgeC.dpuf
2 www.lifeinsurancefinder.com.au/post/compare-life-insurance-australia/the-impacts-of-underinsurance-in-australia/
3 www.lifeinsurancefinder.com.au/post/compare-life-insurance-australia/the-impacts-of-underinsurance-in-australia/
4 www.lifeinsurancefinder.com.au/post/compare-life-insurance-australia/the-impacts-of-underinsurance-in-australia/
5 www.lifeinsurancefinder.com.au/post/compare-life-insurance-australia/the-impacts-of-underinsurance-in-australia/
6 www.lifewise.org.au/insurance-101/understanding-the-risks
7 www.lifewise.org.au/insurance-101/understanding-the-risks

Changes to your Super

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While the government will reduce the amount of money you can put into super from 1 July 2017, the good news is that you could still take advantage of opportunities before the financial year ends. The Australian Government’s May 2016 Federal Budget proposals and several subsequent modifications to its plans around super reform passed through both houses of parliament at the end of November. With new regulations set to become part of Australian superannuation law, some of the rules around super contributions and the tax breaks available will change from 1 July 2017.

In the video above, Shane Oliver, Head of Investment Strategy and Chief Economist, AMP Capital provides an overview of the key changes and what these could mean for investors.

Four things that are changing

The after-tax super contributions cap will be reduced

Initially, the government planned to introduce a $500,000 lifetime cap on after-tax (non-concessional) super contributions, which it will no longer be implementing.

Instead, an annual after-tax contributions cap of $100,000 will be put in place, replacing the current cap of $180,000. Those under age 65 will still have the ability to bring forward three years’ worth of after-tax super contributions, with a maximum of $300,000 under the bring-forward rules.

The before-tax super contributions cap will also be lowered

The before-tax (concessional) contributions cap will decrease from $30,000 (or $35,000 if you’re turning 50 years of age or older this financial year) to $25,000 per year for everyone, irrespective of age.

A pension transfer cap of $1.6m will be introduced

If you’re converting your super into a pension to derive an income in retirement you’ll be restricted to a limit of $1.6 million in your tax-free pension account, not including subsequent earnings.

If you already have a balance above that, the excess will need to be placed back into the super accumulation phase, where earnings will be taxed at the concessional rate of 15%, or taken out of super completely.

Transition to retirement pensions will lose their tax exemption

Investment earnings on super fund assets that support a pension are currently tax free. However, this will no longer apply to transition to retirement (TTR) income streams.

Earnings on fund assets supporting a TTR income stream will be subject to the same maximum 15% tax rate that applies to accumulation funds.

 

Super opportunities this financial year: two things you can do now

Contribute more in before-tax super contributions

The before-tax super contributions cap will be reduced from $30,000 per year (or $35,000 if you’re turning 50 or over before 1 July 2017) to $25,000 per year, for everyone, irrespective of age.

This means, depending on your circumstances, there is an opportunity to contribute an additional $5,000 (or $10,000 if you’re turning 50 or over) in before-tax super contributions than what will be possible before the cap is lowered at the end of the 2016 financial year.

Contribute more in after-tax super contributions

The after-tax super contributions cap will decrease from $180,000 per year to $100,000 per year. This means you could contribute $80,000 more in after-tax super contributions than what will be possible when the after-tax super contributions cap is reduced on 1 July 2017.

If you’re under age 65, you could also bring forward three years’ worth of after-tax contributions up to a maximum of $540,000, which is much higher than the $300,000 limit that will apply from the 2017 financial year.

Why super matters

Australians are living longer and with many needing to fund a longer retirement as a result, adding to your super could make a difference to the lifestyle you lead in the years after you finish working.

To put it into perspective, September 2016 figures, provided by the Association of Superannuation Funds of Australia, show individuals and couples, around age 65, who are looking to retire today, need an annual budget of $43,372 and $59,619 respectively to fund a comfortable lifestyle – that’s assuming they own their home outright and are in relatively good health.

By comparison, the maximum annual Age Pension rate for a single and couple is currently $22,804 and $34,382 respectively, keeping in mind not everyone is eligible for government assistance.

Other considerations

  • If you contribute money to super that exceeds the super cap amounts, it will be taxed at a higher rate and an interest penalty will apply. You can find out more at the ATO website.
  • The value of your investment in super can go up and down. Before making extra contributions to your super, make sure you understand and are comfortable with any risks associated with your chosen investment option. Learn more.
  • The government sets general rules about when you can access your super. Generally you can access it when you’ve retired and reached your preservation age, which will be between 55 and 60 depending on when you were born. Learn more.
  • There are other ways to help boost your super. Learn more. There may also be benefits to making spouse contributions. Learn more.

More information

To find out how reforms to the superannuation system could affect you, speak to your financial adviser.