23 June 2023
Earlier this month, the Australian Taxation Office (ATO) urged taxpayers to conduct a superannuation health check coinciding with ‘tax time’.
Brighter Super supports this and reminds members that they are entitled to an annual Super Health Check at no additional cost.
In this 30-minute appointment with a super specialist you will have a good sense of where you are on your super journey. You can update your latest details and make some decisions around how you may want to make additional contributions to reach your retirement dreams, including salary sacrifice and one-off contributions.
Over the past financial year, Brighter Super has completed over 5,300 Super Health Checks with members. Super Health Checks can be booked with our specialists online or face-to-face or at your workplace.
Brighter Super’s Chief Experience Officer, Lisa Kay, said the Super Health Check is a good basic step to help with planning, and to identify any additional areas where more specific advice is needed.
“In each Super Health Check, we typically cover how to potentially increase take-home pay with salary sacrifice, combine multiple superannuation accounts to save on fees, and review insurance coverage in line with the member’s needs. We also look at what superannuation amount is needed to be able to retire comfortably.
From 1 July 2023, compulsory employer super contributions increase by a further 0.5% to 11% and although that may seem like a small amount of money now, the long-term benefit of just that increase will make a difference in your comfort-level at retirement.
“Members also have a few days left to claim a tax deduction for personal super contributions over and above employer payments. This is easily achieved by logging into Member Online.
"There is no time like the present to get your financial matters in order,” said Ms Kay. Click the button below to book your Super Health Check now, at no additional cost.
LGIAsuper Trustee (ABN 94 085 088 484) (AFSL 230511) (the Trustee) as trustee for LGIAsuper (ABN 23 053 121 564) (RSE R1000160) (the Fund) trading as Brighter Super. Brighter Super products are issued by the Trustee on behalf of the Fund. Brighter Super may refer to the Trustee or LGIAsuper as the context may be.
This article provides general information only and does not take into account your individual objectives, financial situation or needs. As such, you should consider the appropriateness of the advice to your objectives, financial situation and needs before acting on the advice. You should consult a licensed financial advisor if you require advice which takes into account your personal financial circumstances. You should also obtain and consider the Product Disclosure Statement (PDS) before making any decision to acquire any products. A Target Market Determination (TMD) is a document that outlines the target market a product has been designed for. Find the PDSs and TMDs at https://www.brightersuper.com.au/about-us/governance.