CON­TRI­BU­TIONS DROP OFF

Money Magazine Australia - - INVESTING SUPERANNUATION -

Aus­tralians are re­duc­ing their vol­un­tary su­per­an­nu­a­tion con­tri­bu­tions from the record highs dur­ing the bull mar­ket of re­cent years. The lat­est data from su­per re­search house Su­perRat­ings re­veals that the av­er­age vol­un­tary con­tri­bu­tion over the 2017-18 fi­nan­cial year was $1054, a 10% de­cline on the previous year but just $158pa less than the high­est av­er­age con­tri­bu­tion of $1212 in the 2008 fi­nan­cial year. Af­ter the GFC in 2008, vol­un­tary con­tri­bu­tions more than halved but have slowly climbed since then. Aus­tralians are per­mit­ted to make con­ces­sional con­tri­bu­tions up to $25,000 to their su­per­an­nu­a­tion fund or non-con­ces­sional amounts up to $100,000 a year (or $300,000 us­ing the bring-for­ward rule). “It re­mains to be seen how volatil­ity through­out 2018 has af­fected mem­ber con­tri­bu­tions but su­per bal­ances re­main well ahead over the course of the last decade de­spite re­cent fluc­tu­a­tions,” says Su­perRat­ings.

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