Boost your super in just a few simple steps
Your super balance grows over time through contributions made into your account, and the returns on your investments. With a few simple steps, you can boost your super to help set yourself up for a more comfortable retirement.
Choose a high performing fund
Not all super funds are made equal, which means the fund you choose can have a big impact on how much super you have when it’s time to retire. There are two main things that can influence how fast your super can grow:
1. Your super fund’s long-term performance
Past performance is not a guarantee of future returns, but looking at a fund's historical performance can provide an indication of its ability to generate consistently strong returns over time. Look for a fund with strong, long-term performance. See how Mercer Super stacks up.
2. The impact of fees and costs
All super funds charge fees to manage your money, but some funds charge more than others. Lower fees mean more money in your super, so it’s important to do your homework. Learn more about our fees and costs here.
Contribute more to your super
Contributions are the lifeblood of your super balance. Adding extra, when you can, is a great way to give your long-term balance a boost. You can contribute money to your super from your before-tax pay – known as concessional contributions, or from your after-tax pay – known as non-concessional contributions.
Some common contribution types include:
Salary sacrifice
By asking your employer to contribute even a small additional amount of your before-tax pay into your super account, money that you may have otherwise attracted a higher level of tax,* is deposited into your super account. Learn more about salary sacrifice.
Spouse contributions
In some circumstances, your partner may be able to contribute to your super and potentially claim a tax deduction. This is particularly useful for couples where one spouse is a low-income earner, has reduced hours or is taking some time out of the workforce. Learn more about spouse contributions.
Super co-contributions
If you’re a low to middle income earner, the government may help boost your super through a co-contribution payment. Learn more about government contributions.
Contribution caps for 2024-25
There are limits on how much of each type you can contribute each financial year. These are called contribution caps.
Concessional contributions
(before-tax): $30,000
Non-concessional contributions
(after-tax): $120,000
Additional resources
Download the government contributions fact sheet to learn how the government could help you grow your super.
Choose the right investment option for you
As your life and financial goals change over time, your super investment strategies should too. As a Mercer Super member you can access our e-Advice tool to help you understand and select the most appropriate investment option for your life stage and attitude to risk.
Don’t hope for the best, plan for it with financial advice
As a Mercer Super member you can have access to financial advice about your super at no additional cost.
Explore more: it’s your time to grow
Disclaimer: This content has been prepared on behalf of Mercer Superannuation (Australia) Limited ABN 79 004 717 533, Australian Financial Services Licence #235906, the trustee of the Mercer Super Trust (‘Mercer Super’) ABN 19 905 422 981. Any advice is of a general nature and does not take into account your objectives, financial situation or needs. Before acting on any advice, please consider the Product Disclosure Statement (including incorporated documents) and Financial Services Guide available at mercersuper.com.au. The product Target Market Determination can be found at mercersuper.com.au/tmd. The material contained in this document is based on information received in good faith from sources within the market and on our understanding of legislation which we believe to be accurate.
Care & Living with Mercer is a service provided by Mercer Consulting (Australia) Pty Ltd ABN 55 153 168 140. Please read Care & Living with Mercer website Terms of Use when accessing the service.
* Any information in this material regarding legal, accounting or tax outcomes does not constitute legal advice or an accounting or tax opinion and prior to relying and acting on this information it is important that you seek independent advice from a qualified lawyer or accountant regarding this information. Past performance is not a reliable indicator of future performance. 'MERCER' is a registered trademark of Mercer (Australia) Pty Ltd ABN 32 005 315 917.
Past performance is not a reliable indicator of future performance. 'MERCER' is a registered trademark of Mercer (Australia) Pty Ltd ABN 32 005 315 917.