Superannuation can be one of the most tax-effective ways to save for retirement. That’s because the contributions and earnings in the fund are taxed at a concessional rate1, usually a maximum of just 15%.
By taking control of your super, you can boost your balance and make your super work harder for you, which could help you to live a much better life when the time to retire arrives.
If you are being made redundant, an ANZ Financial Planner can explain your termination payment, provide investment advice and help establish a budget to help you adapt to your changed financial position.
Things to consider when:
Retirement is still a long way off but there are some things you could be doing to grow your super and make the most of what you have already invested.
An ANZ Financial Planner can advise on how you may be able to use your super to pay life insurance premiums and make use of initiatives such as the co-contribution or tax rebates on spouse superannuation contributions.
Though you may have a number of years left before you retire, it’s recommended that you examine your financial situation to ensure you will have enough money to live comfortably.
An ANZ Financial Planner can review your superannuation arrangements to determine whether you are on track to reaching your retirement goals. Recommendations may include topping up your super via salary sacrifice. If you have multiple superannuation policies, you can consolidate funds to save fees and potentially maximise returns.
Retirement may be looming, yet opportunities remain to maximise your super and ensure it works better for you, whether you decide to retire fully or work part-time.
An ANZ Financial Planner can help you make the most of your superannuation with advice on the role your super can play in retirement planning. They can also help you implement a transition to retirement strategy, which could help you work less or save more for retirement.
Through an ANZ Financial Planner you can invest in one or more of over 70 funds, managed by a selection of leading fund managers. Take a closer look at ANZ OneAnswer Personal Super.
1. Annual age based limits apply.
ANZ Financial Planners are representatives of Australia and New Zealand Banking Group Limited, ABN 11 005 357 522, the holder of an Australian Financial Services licence.