How to get more money in your superannuation
Your superannuation is a fund that keeps growing during the entire time you work, saving you money you can use for when you have retired. All employers are obligated to pay this fee, which then is saved for you until the day you retire. However, to further boost the amount of money you have in your superannuation fund, there are some things you can do to make sure you get as much money as possible the day you actually retire.
Concessional contribution
The first thing you can do to get more money in your superannuation is to contribute to it yourself. You don't need to handle any cash yourself or even sacrifice any of your time to do this. Simply ask your employer to put away some of your salary before taxes into the superannuation. This is money that is taken away from your account before you can notice that they're gone. These additions are called concessional contributions, meaning you will have to pay taxes for them, as you do with all of the money that ends up in your superannuation. You can choose if this is something you only want to do once or if you want your employer to put this amount into your superannuation monthly. Either way, it's not very complicated for your employer to add to the amount they are already taking from your salary to put into your superannuation.
Gather your superannuation
Another thing you can do to boost the amount in your superannuation is to gather all of your earnings into one account. If you've worked for many different employers, you might have many different superannuation accounts that you are paying individual fees for. By gathering these in to one account will limit the cost for the various fees that come with the superannuation. It also makes it easier to keep track of it, as well as making it easier to view the amount of money that you have in your super.
Non-concessional contributions
You could also choose to do non-concessional contributions. These are the types of contributions you give from money you've already paid taxes for. This could mean money you've saved during the time you've been working, or just the amount you have left after paying for the vacation or car you've been saving up for. This means you won't have to pay any additional taxes for this amount of money and thus the entire amount goes to your superannuation. Other people, like your children, can also contribute to your superannuation in this way.
