Co-contribution still a good way to save

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The governments superannuation co-contribution is still available and remains a simple way for eligible people to boost their savings for retirement.

If you are a low to middle-income earner and make personal contributions to superannuation (and meet other eligibility criteria) the Government will assist your retirement savings by making an additional contribution (co-contribution) on your behalf up to a maximum $500. How much co-contribution you receive will depend on your income in that particular year and how much you have personally contributed to super. If your super fund has your tax file number and you have completed your tax return, your entitlements are automatically paid into your super account.

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