Zest! / SUPER 101

Get to know your super

As one of our valued members, you have a lot of control over your super. Watch our quick video to find out what you need to do.

By Ofalyn Ayuk - 3 min video


A little about Ofalyn

As a Member Solutions Consultant at Russell Investments, Ofalyn Ayuk understands all the ins and outs of super and retirement legislation, and loves to answer questions and help members.

Hi, I'm Ofalyn Ayuk, Member Solutions Consultant at Russell Investments.

The compulsory super system means 11% of your wages or salary must go into a super fund.

Called the Superannuation Guarantee, this rate will increase to 11.5% from the first of July this year.

That's a large part of your pay, so it's worth understanding where it goes and how to make the most of it.

As one of our members, you have a lot of control over your super savings – perhaps more than you think.

Start by logging in to your online account. It's the quickest way to check your super balance, how contributions are coming in and how your super is invested. After all, your super is a long-term investment that is meant to provide you with a significant source of income when you retire, so it’s important to check it from time to time.

Apart from employer contributions, you can choose to make additional before-tax or after-tax contributions to help give your super that extra boost.

After all, superannuation is one of the most tax-effective ways to save for retirement. Here’s a quick overview of how that works:

With before-tax contributions, money is contributed to your super account before income tax is deducted. Once the money is in your account, it’s normally taxed at 15% instead of the marginal tax rate that applies to your taxable income, which can be between 21% and 47% if you include the Medicare Levy.

That difference in tax means you get to keep more of your money when you direct it to super than if you keep it as take-home pay.

Employer contributions, salary sacrifice contributions and personal deductible contributions all fall under this category.

After-tax contributions, are made from your after-tax income, meaning the money has already been subjected to income tax. This means, after-tax contributions are not taxed when they enter your super account.

These contributions can include personal contributions and contributions from sources other than your employer.

Adding even a small amount extra into super early on can help increase your balance over time thanks to the power of compound interest.

Want an easy way to work out how much to contribute? Check out our award-winning GoalTracker® program.

It can calculate the amount of income you're heading for in retirement, help you set an income goal that's right for the retirement lifestyle you want, and offer tailored advice and strategies to help achieve it. One of these strategies focuses on additional contributions.

GoalTracker comes at no additional cost to you – all you have to do is log in to your online account and access the program.

You can find more information on all these topics including GoalTracker on the Zest! web pages and on our website.

Thanks for watching.


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Issued by Total Risk Management Pty Ltd ABN 62 008 644 353, AFSL 238790 (TRM) as trustee of Russell Investments Master Trust ABN 89 384 753 567. Nationwide Super and Resource Super are Divisions of the Russell Investments Master Trust. The Product Disclosure Statement (‘PDS’), the Target Market Determinations and the Financial Services Guide can be obtained by phoning 1800 555 667 or by visiting russellinvestments.com.au or for Nationwide Super by phoning 1800 025 241 or visiting nationwidesuper.com.au. Any potential investor should consider the latest PDS in deciding whether to acquire, or to continue to hold, an investment in any Russell Investments product. Russell Investments Financial Solutions Pty Ltd ABN 84 010 799 041, AFSL 229850 (RIFS) is the provider of MyTracker and the financial product advice provided by GoalTracker® Plus. General financial product advice is provided by RIFS or Link Advice Pty Ltd (Link Advice) ABN 36 105 811 836, AFSL 258145. Limited personal financial product advice is provided by Link Advice with the exception of GoalTracker® Plus advice, which is provided by RIFS.

This communication provides general information only and has not been prepared having regard to your objectives, financial situation or needs. Before making an investment decision, you need to consider whether this information is appropriate to your objectives, financial situation and needs. If you'd like personal advice, we can refer you to the appropriate person. This information has been compiled from sources considered to be reliable but is not guaranteed. Past performance is not a reliable indicator of future performance. To the extent permitted by law, no liability is accepted for any loss or damage as a result of reliance on this information. This material does not constitute professional advice or opinion and is not intended to be used as the basis for making an investment decision. This work is copyright 2024. Apart from any use permitted under the Copyright Act 1968, no part may be reproduced by any process, nor may any other exclusive right be exercised, without the permission of Russell Investments.