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Choosing the right superannuation fund is crucial for securing your future. At Northern Rivers Financial Planning, we offer access to a vast range of superannuation funds, with over 500 options across Australia. Our tailored advice ensures that your super fits your unique needs and lifestyle. Our advisors will meet with you for regular reviews, providing annual consultations to ensure your super is working for you. As your life and circumstances change, we’re here to help you navigate these transitions smoothly.
Industry Super funds are often the default super funds tied to certain industries, from the building trade to healthcare and administration. Since July 2005, Australian employees have had the ability to choose where their employer contributions go, offering more flexibility than ever before.
Despite this flexibility, over 70% of workers still stick with their employer’s default fund. At Northern Rivers Financial Planning, we conduct comprehensive reviews of your current super fund, determining if it already aligns with your needs. If it does, we’ll recommend that you stay the course. Having an expert evaluate your super is important, as your fund’s performance directly impacts your retirement future.
Source: https://www.selectingsuper.com.au/choosing-the-right-super-fund-to-help-attract-better-employees
Personal Superannuation Funds are set up by individuals and move with them from job to job. These funds often offer more flexibility, allowing access to direct shares and a wider range of insurance providers.
You can even enhance your super by making voluntary contributions, either to your own fund or your spouse’s fund. This can be particularly beneficial if your partner has taken time off work to care for family, allowing you to boost their super for when they return to the workforce.
At Northern Rivers Financial Planning, we thoroughly assess your personal superannuation and identify any adjustments necessary. If you’re considering early retirement, it's essential to get your super working as efficiently as possible.
Personal contributions are non-concessional (after-tax) contributions and will count towards your non-concessional contributions cap unless you have claimed a tax deduction for them.
At Coast Financial Planning here in Ballina and Lennox head we will undertake a complete review of your current Superannuation funds and reveal to you any changes that are necessary, particularly if you are thinking of retiring earlier than the age of 67 it is a good idea to get your funds working for you the best way you can.
Employer Super is the default superannuation offered by small to medium businesses. As an employer, you’re required to pay the superannuation guarantee (SG) for any employee earning over $450 per month, with the current SG rate at 12%.
At Northern Rivers Financial Planning, we ensure your employer super contributions are up to date and suited to your future goals. We’ll review your fund regularly to ensure it remains the right fit for both your current needs and your long-term financial security.
Source: https://www.ato.gov.au/rates/key-superannuation-rates-and-thresholds/?page=22
