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Investor Focus: Use the government to BOOST your retirement savings Posted on October 9, 2018
Because you only have until the 30th June to make a decision, take some action and get a RESULT!
The Government Co-contribution scheme was introduced in 2003 to help low to middle income earners build up their superannuation savings for retirement. Essentially, the Government will match eligible income earners’ personal super contributions by up to 100%.
If you earn $31,920 or less and make a personal contribution to your super fund, the Government will match each dollar up to a maximum co-contribution of $1,000.
This means that if you make a $1,000 contribution, you will also receive $1,000 from the Government.
Are you eligible? There are a few requirements for eligibility, but depending on your circumstances this can be a great way to use the government incentive for your own back pocket.
The best way to find out if you are making the most of your super, things like –
Help with finding any of your lost super funds;
An estimate of your likely retirement income; and
Tips on how to gain maximum benefit from your superannuation investments.
Is to come to a complimentary Financial Discovery Session with one of our Financial Advisors. Here we will make sure you are on the right track.