accelerate your savings with personal contributions

Whether you want to tuck away $10 or $10,000, with personal after-tax contributions you can start putting extra money in today.

 

top up whenever you like, with as much as you like

With personal contributions you can:

• get extra money paid into your Health Super account from the Government if you fit the eligibility criteria for the Government Co-Contribution incentive
• recieve concessional tax treatment provided your contributions are within the Government prescribed limits and Health Super has your Tax File Number
• by topping up your super you can reap the rewards of compunding (earnings on earnings). This could mean more money for you when you retire.
• contribute as much as you like within Government Prescribed Contribution Caps.

 

calculate your final balance Want to see how much super money you could have when you retire, and how long it might last? Use our projections calculator, and see the difference topping up your super can make as well.

 

 

see the difference making after-tax contributions made to Mary’s final super balance

Mary is 30 years old, she’s on a salary of $35,000, receiving 9% Super Guarantee (SG) from her employer, with no accumulated super. See how much better off Mary would be at age 60 with additional after-tax contributions of $20, $50 or $100 a week (These figures are in today’s dollars).

 

Source: ASIC’s FIDO superannuation calculator at July ‘07. Estimates based on ASIC’s standard assumptions (including 8% gross return, 2.5% inflation, 1% rise in living standards - see www.fido.asic.gov.au for more information) and Health Super’s fees for its balanced option and the asset fee:but excludes insurance premiums & any Government co-contributions). Estimates assume that these factors will remain constant while your superannuation is accumulating. Estimates exclude insurance premiums & any Government Co-Contributions. Estimates don’t take into account your personal situation or guarantee future benefits. Past returns aren’t a reliable indicator of future returns. Assumptions may not materialise & may be affected by unknown risks & uncertainties. If you wish to re-calculate with different assumptions or including insurance premiums and co-contributions, go to ASIC’s Super Calculator.

 

 

 

make sure you are eligible

your age @ 30th June each Financial Year	can Health Super accept personal contributions?
18-64
65-74	You must have worked at least 40 hours in not more than 30 consecutive days in the current financial year.
75+

important changes from 1 July 2007

There are quite a few changes to superannuation that came into effect on 1 July 2007. Read through our Product Disclosure Statement to make sure you understand how these changes will affect you. These include a change that means Health Super cannot accept personal contributions (after-tax) if we do not hold your Tax File Number. If you are thinking about making a contribution, carefully read the ‘simpler contribution rules’ section.

 

choose your payment method

Firstly, decide how much you’d like to make as a personal contribution. Use our superannuation calculator to see how much difference topping up can make to your superannuation benefit.

There are 5 main ways you can top up with after-tax contributions: 

• you can contribute a set amount with each pay period (known as regular payroll deductions)
• have direct debit contributions coming out of your bank account
• use BPAY whenever you like through the Internet or phone
• make a lump sum payment with a cheque whenever you like
• choose to pay by Electronic Funds Transfer (EFT)

 Remember to stay within the Government Prescribed Contribution Caps.

Find out more about the payment methods available, and how to use them.

consult an expert

As each financial situation is different, you may wish to consult a planner from Health Super Financial Planning before you decide which option to choose. 

Visit their website www.hsfp.com.au or call 1300 780 223.

 

tips: find out other ways to grow your super faster

• combine your super accounts and save
• track down your lost super, and roll it into Health Super
• salary sacrifice (make pre-tax contributions) and save on tax
• Member Investment Choice. See if you’re in the right investment choice for you