An ageing population with an increased life expectancy, coupled with ongoing pressure on governments to reduce social security spending, are making it increasingly likely that without additional savings – or more substantial super contributions – many people will not have sufficient funds to see them through their retirement years.
Markson has extensive experience in developing personalised superannuation strategies for our clients based on their life stage, current assets and income, which allow them to look forward to living well in retirement.
Compulsory superannuation was introduced in Australia in 1992 as a national retirement savings scheme. Under current rules, if you are aged between 18 and 70 years and are earning more than $450 per month, your employer is generally required to contribute at least 9.5 per cent of your salary to your preferred super fund on your behalf (this is known as the superannuation guarantee or SG). This applies whether you are full-time, part-time or employed on a casual basis.
Your super fund invests in assets such as property, shares, fixed interest and cash. We can guide and advise you on which assets are most suited to your circumstances and objectives, and then help you manage your fund so that your existing benefits and future contributions are looked after and given the best opportunity to grow.
As superannuation is generally a long-term investment, your contributions have a long time to benefit from the growth of your investments.