Whether you are self-employed or an employee, BIG Financial Services can assist with your Superannuation enquiries.
Why is Superannuation so important?
With low tax rates and a host of government concessions, super is one of the most attractive retirement savings vehicles available. But are you making the most of it?
Your super is likely to be the second biggest asset you accumulate in your lifetime, after your family home. So it’s going to play an important role in how you spend your retirement.
How does Super work?
Since the introduction of the Superannuation Guarantee (SG) scheme in 1992, employers have been required to pay super contributions (to a complying super fund) on behalf of all their eligible employees.
These contributions are pooled (by the super fund) with other investors, and invested into a range of asset classes including shares, property, government bonds and cash.
Super funds then typically give their members a choice of investment options, which can be made up of one or more of these asset classes.
This ability to invest simultaneously across asset classes demonstrates one of the best features of investing in super - diversification.
Not only can you ‘spread the risk’ across a range of asset classes, you can also access investment opportunities you probably wouldn’t even consider if you were investing yourself.
The rules around super can be complicated, and there are often legislative and product opportunities you need to be aware of.
To ensure you’re making the most of your super, it pays to seek financial advice.