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Superannuation contributions
Superannuation contributions are the payments made into your superannuation fund for your retirement.
Superannuation contributions can come from a variety of sources, including your employer or private funds.
Ensuring that you maximise the wealth that your superannuation contributions can add to your retirement funds can make a difference to how you retire.
How Zurich can help
The Zurich Superannuation Plan accepts a wide variety of superannuation contributions.
| Types of superannuation contributions |
Explanation |
| Compulsory employer superannuation contributions |
For most employees, employers are required to make a minimum contribution to superannuation in accordance with industrial awards, workplace agreements and the Government Superannuation Guarantee (SG) legislation. |
| Voluntary employer superannuation contributions |
Any amount an employer pays above the compulsory amount is deemed to be voluntary superannuation contributions. |
| Salary sacrifice contributions (pre-tax contributions) |
Your employer may be willing to make contributions to your superannuation account as part of your total remuneration package instead of to you as salary. If you are interested in salary sacrifice you should discuss this further with your employer and your financial adviser. |
| Personal superannuation contributions (post-tax contributions) |
Personal superannuation contributions are any amount paid from your salary after tax. This does not include superannuation contributions made through a salary sacrifice arrangement. |
| Self-employed superannuation contributions |
If you are self-employed you are not required by law to make superannuation contributions. However, you may wish to do so in the form of tax deductible retirement savings. |
| Spouse superannuation contributions |
Individuals can make superannuation contributions on behalf of their spouse. The contributing spouse may be entitled to a tax offset. |
| Rollovers and transfers from other funds |
If you change funds or jobs you can transfer or roll over your superannuation to your Zurich Superannuation Plan. |
| Government co-contributions | If you meet certain criteria and make personal superannuation contributions the Government will match it to certain limits. |
Important: The Trustee can only accept non-concessional contributions (personal/after-tax contributions) where you have provided details of your Tax File Number and provided the contribution does not result in the non-concessional contributions cap being exceeded.