Podcast: Tips for boosting your super

ESSSuper - 02 Dec 2024

In the latest edition of Exploring Super, we talk to ESSSuper Member Education Consultant Tom Crandle about some of the ways you may be able to boost your retirement savings. We discuss making additional contributions, reviewing investment strategies, consolidating super, and more.

 Emergency Services Superannuation Board (ABN 28 161 296 741) (ESSB) is responsible for administration of the Emergency Services Superannuation Scheme (ABN 85 894 637 037) (ESSSuper).

The information contained in this article and podcast is of a general nature only. It should not be considered as a substitute for reading ESSSuper's Product Disclosure Statement (PDS) that contains detailed information about ESSSuper products, services and features. Before making a decision about an ESSSuper product, you should consider the appropriateness of the product to your personal objectives, financial situation and needs. It may also be beneficial to seek professional advice from a licensed financial planner or adviser. An ESSSuper PDS is available at esssuper.com.au/pds or by calling 1300 650 161.

Investment returns cannot be guaranteed as investment markets can be volatile. As a consequence, returns can be positive or negative. Past investment performance is not a reliable indicator of future performance. Benefits in ESSSuper’s Accumulation Plan, Income Streams and Beneficiary Account products are not guaranteed or underwritten by the Victorian Government or ESSSuper, and ESSSuper does not come under the jurisdiction of the Australian Financial Complaints Authority. The Board recommends that you seek financial advice before acting upon this information.

Your contributions have been grandfathered (i.e. previous conditions still apply despite new rules) and won’t exceed the concessional contribution cap if you joined the New Scheme, Transport Scheme or the ESSS DB Fund before 12 May 2009, and you haven’t increased your contribution rate since then. Increasing your contribution rate now or in the future will void grandfathering of the contribution caps. This means your contributions and those of your employer will be subject to the contribution caps. This may also mean you may incur additional tax. You can learn more about contribution caps on our Tax on contributions webpage, and refer to the relevant PDS or handbook for more information about grandfathering.

Content was up to date at time of recording and thresholds do change due to federal legislation. For more information on eligibility for todays, content please refer the Australian Taxation Office (ATO) website.