Learn all about super and choosing a fund with our handy guide.
Learn about the benefits and risks of self managed super funds and essentials like set up and running costs, how to set up a SMSF, and FAQs.
What is an industry super fund and who can join one? Learn about the advantages of industry funds over retail funds, and a list of major industry funds.
How and when can you access your super? Learn about preservation age, the types of withdrawal, transferring super and more.
A comprehensive guide on the steps you’ll need to take to find super that might be sitting in a dormant superannuation account.
Find out what the superannuation targets are and how much you should have saved for retirement.
For many Aussies, the intended age of retirement might not match up with their actual retirement ...
Will super support the next generational wave of retirees?
Superannuation reforms: 3 big changes every Aussie needs to know
APRA's latest superannuation stats: what it means for your retirement nest egg
ATO Ramps Up Superannuation Compliance
Super funds decline 1.6% in October, continuing a three-month slide
Super race against time heats up with funds left untouched
Aussies are not feeling confident about retirement amid high costs
Super for those on parental leave: Gov considers expanding super
Read more news articles about super >> See all
Mozo's team of money experts and journalists are here to guide you on the important super topics so that you can make your money count for more during your retirement. See all
Superannuation is a way of saving money for your retirement. When you work, a percentage of your earnings is set aside in a super fund account, which is only made accessible to you when you retire and reach your preservation age. This amount can grow over time, based on how much is contributed and how your chosen fund invests your money.
Superannuation is a long term investment, but it shouldn’t be thought of as a set and forget decision. The fees you pay, the investment returns, and asset allocation will determine how much super you will have at the time of retirement and the kind of retirement you’ll be able to financially enjoy. Engaging with your super at all stages of your life is important.
Superannuation is the way that most Australians save for their retirement. Employers are required to pay a percentage of your earnings (current minimum 11%) in your super account and your chosen superfund will invest this on your behalf until your retirement.
When you retire you will be able to withdraw the funds in your account to pay for your living expenses.
You can choose which type of superfund your money is held by and you will generally also get a choice between the investment options made with your money as most superfunds will have options for conservative, balanced or growth investments.
There are a range of super funds choices available to Australians including:
When it comes to selecting the investment options within your chosen fund you’re likely to have a few options. Which investment option is best for you will depend on a couple of factors such as:
Some of the most common types of pre-mixed options offered by super funds include:
The rate that employers contribute to superannuation increased in July 2023 to 11%. This is known as the superannuation guarantee rate. The rate is scheduled to increase a further 0.5% each financial year until 2025 when the rate will be 12%.
The amount of money that you can contribute to super from your before tax income is set at $27,500.00 p.a. This is known as a concessional contribution.
For the 2023/24 financial year, the non-concessional contributions cap is $110,000.
For the majority of people, you will not be able to access your superannuation until you reach the preservation age and retire.
There are some instances in which you can access super early but you’ll need to meet strict criteria.
Some reasons for early access to super might be:
Read our in depth early access to super guide to learn more about the early access rules, limits and tax implications.