In addition to employer contributions, there are other types of contributions that may be able to be made to your super account, depending on your age and employment status. Even small amounts can help grow your superannuation balance over time.
You can make additional contributions by:
- Salary sacrificing – asking your employer to deduct additional contributions from your pay before tax is deducted;
- Making personal contributions from your own savings or after-tax earnings; and
- Transferring (also called “rolling over”) the superannuation you have in an account with another fund to your Slate Super account.
When you make personal contributions to your super account, you may be entitled to a co-contribution or a low-income superannuation tax offset from the Government.
Other types of contributions, such as spouse contributions and downsizer contributions, can also help grow your super balance. Check out the ATO’s website for more details.
Annual limits apply to the type and amount of contributions that can be made to your super account each financial year without incurring additional tax. Further information is provided in the Additional Information Booklet or by contacting us.