If you have multiple super accounts, it makes sense to combine them. This could help you cut down on fees and put the power of compounding interest to work for your money.
Before you combine your super, make sure you review any insurances you might have attached to your accounts, as these will be closed when you transfer your money out. Also check if there will be a loss of any benefits.
If you’re a member of EISS Super, bringing your super together is easy. Simply log in to your online account and select Find My Super from the menu.
Is your super invested in the right investment option for you? Each investment option has a recommended minimum investment timeframe, a different level of risk and potential return. If you haven’t made an election, your account will be invested in a default option which for EISS Super is the MySuper Conservative Balanced option.
You can learn more about the EISS Super investment options at eisuper.com.au/eiss-super-investment-options
To change your investment option in EISS Super login to your online account.
While the 9.5% compulsory super contribution is a good start, if you want a comfortable retirement you may need to add a little extra.
If you decide you want to increase your super contributions, you can speak to your employer about setting up regular salary sacrifice contributions from your before tax pay and boost your super while reducing your income tax. You can also choose to contribute extra to your super by making a personal super contribution and claiming a tax deduction.1
Expecting to come into some money this year? Why not contribute some or all of it to super? If you’re aged under 65, you may be able to make an after-tax contribution to super of up to $100,000 per year. Better yet, you may be able to bring forward two years of unused caps to contribute up to $300,000 (subject to eligibility requirements).
No one likes to think about it, but who gets your super and insurance benefit if something happens to you? Super is likely to be one of your biggest assets, so it’s important it’s paid according to your wishes.
You can ensure your loved ones receive your super if something happens to you by filling out a Binding Nomination form and returning it to us when it’s complete. You can check your binding nominations by logging in to your online account.
If you’d like more information on how you can maximise your super, speak to a Financial Planner from EISS Super. To make an appointment, call 1300 369 901 (and select option 2) or visit eisuper.com.au/appointment
1 Australian Tax Office, www.ato.gov.au/Individuals/Super/Growing-your-super/Adding-to-your-super, August 2019
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