Five Step Super Health Check

We provide five steps you can complete to check your super.

1. Check… that your Super is consolidated

Multiple accounts mean multiple fees, eating into your retirement savings. Use the ATO’s online services to track down lost super and consolidate your accounts easily.

Important Note – Make sure to check your insurance status before attempting any consolidation!

2. Check… how you are invested

Your super’s investment strategy should match your risk tolerance and retirement goals. Are you too conservative? Or too aggressive when it comes to investing?

Adjusting your investment mix can significantly impact your super’s growth over time.

3. Check… what insurance you have

Most super funds offer life, total and permanent disability, and income protection insurance. Sometimes the cover offered is a default cover based on your age. Review your insurance needs to ensure you’re adequately covered based on your circumstances and without eroding your super balance unnecessarily.

4. Check… to make sure you have a beneficiary nomination

Super isn’t automatically covered by your Will, so complete a death benefit nomination form as per your wishes to help ensure your super and potentially life insurance proceeds go to your loved ones as you intended.

5. Check… your details to make sure they’re up to date

This will ensure you’re kept up to date with important information from your super fund. Simple things like ensuring you have provided your tax file number can save you from unintended losses.

By taking action on these tips, you can feel confident knowing that your super is in tip top shape for the year ahead!

It’s an investment your future self will thank you for!

The purpose of this website is to provide general information only and the contents of this website do not purport to provide personal financial advice. Financial Horizons (Cairns) Pty Ltd strongly recommends that investors consult a financial adviser prior to making any investment decision. The contents of this website does not take into account the investment objectives, financial situation or particular needs of any person and should not be used as the basis for making any financial or other decisions. The information is selective and may not be complete or accurate for your particular purposes and should not be construed as a recommendation to invest in any particular product, investment or security. The information provided on this website is given in good faith and is believed to be accurate at the time of compilation.

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