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News
18 May 2009 Grab great rates while they last!
When: 1 July 2009
In the May Federal Budget, the Government has announced a temporary reduction in its contribution matching rate by up to $500 for the next three years, and $250 for the following two years. The earliest the rate will return to 150% again is estimated at 30 June 2015.
The government co-contribution is valuable to the retirement savings strategies of many members, in particular, women. ASFA research reveals that while women live longer than men, the average woman’s super balance is half that of a man’s throughout her working life*. So make sure you get your free money before the rate reduction next year.
*Source: Clare, R. 2008, Retirement savings update, ASFA Research & Resource Centre, The Association of Superannuation Funds of Australia, Sydney, Table 1.
What: Unclaimed super accounts with less than $200 will go to the Australian Tax Office.
When: 1 July 2010
Currently, about 3 million of such lost super accounts — totalling a whopping $238 million dollars— are waiting to be claimed by their owners. Unclaimed super accounts will be snapped up by the Australian Tax Office, so get your money before the government does. We recommend you visit the SuperSeeker website and track it down fast!
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