3 ways to keep your super working, even when you’re not

Whether you’re self-employed, between jobs, caring for family or taking a break, it doesn’t mean your super should stop too. Let’s look at some ways to keep you on track.

In this article, we'll explore:

  1. Government co-contributions
  2. Reviewing your investment options
  3. Spouse contributions
  4. Seeking professional financial advice — it’s included in your membership.*

1.    Government co-contributions

Find out if you’re eligible to receive up to $500 from the Government when you contribute up to $1,000 from your after-tax pay to your super.

If you’re a lower or middle-income earner, taking advantage of the government co-contribution scheme can be a great way to receive a boost to your super. There’s no paperwork, and it’s simple to do.

How to claim

1.    Top up your super via BPAY® before 30 June
2.    Lodge your tax return, and the ATO will determine if you’re eligible
3.    Receive your co-contribution automatically in your super account.

Boosting your super via BPAY® is the quickest and easiest way to make contributions to your super account. Just remember, there are limits to how much you can contribute to your super each year.

Make a contribution via BPAY® >

2.    Review your investment options

Choose the right investment option for you.

Your super is your money, and you get to have a say in how it’s invested. With 12 investment options to choose from, plus our Direct Investment option — you can mix and match to suit your goals.

Some important things to consider

  • Learning the basics — Read up on our investment FAQs, and for even more information read our Investment Guide, PDS and TMD
  • Your investment timeframe — As a general rule, the longer you plan to keep your super invested, the more risk you may be able to take. On the other hand, if you’re planning to access your super sooner, you might want to consider a lower risk approach.
  • Your risk level — Investment options with higher levels of risk perform stronger over the long term, but may be more volatile over the short term.
  • Find out more tips — Read more about investment choice and see examples.

Switch your investments in MemberOnline >

3.    Spouse contributions (after-tax)

Ask your spouse about making a personal (after-tax) contribution to your super. Plus, they could be eligible to receive up to $540 as a tax offset.

If you earn less than $40,000 per year (including super and benefits), you can build your retirement savings by receiving a personal (after-tax) contribution from your spouse.

How the offset works

Your incomeHow much your spouse can claim
$37,000 or less$540
$37,000–$40,000Between $0–540
Over $40,000$0

See if you’re eligible >

Receive a top up from your spouse

First, give your spouse your BPAY® member contribution details (you can find them in MemberOnline or call us on 1300 360 149). Next, they can contribute to your account via BPAY® — simply enter the details and make the payment.

Super splitting (before-tax)

If your spouse is working, you can receive a portion of their super — with potential tax savings for your partner.

If your spouse is working, they can share contribute some of their (before-tax) contributions to your super account. By sharing some of their regular super payments, you and your spouse can grow both your super together — meaning more money to enjoy the things you love in retirement.

Get started with the Contribution splitting form >

Seek financial advice — it’s included in your membership*

Just because you’re taking a break, doesn’t mean your super should stop working too. 

If you’re a CareSuper member, you can speak with us about super strategies and financial advice over the phone at no extra cost.* If your finances are more broad than super, you can also get in touch with a specialist financial planner who can help.^

Request a call-back today >

We’re here to help

If you have any questions, call us on 1300 360 149 or get in touch online.

*Financial advice obtained over the phone, or through MemberOnline, is provided by Mercer Financial Advice (Australia) Pty Ltd (MFAAPL) ABN 76 153 168 293, Australian Financial Services Licence #411766.
^Advice is provided by one of our financial planners who are Authorised Representatives of Industry Funds Services Limited (IFS). IFS is responsible for any advice given to you by its Authorised Representatives. Industry Fund Services Limited ABN 54 007 016 195 AFSL 232514.

Information correct as at 10 May 2024.