Going up in the world? So could your super.

New colleagues, new outfit, possibly even a new haircut. Amid the excitement of fresh challenges and (hopefully) a bigger salary, moving to a new job or getting a promotion is a great time to clean up your financial act.

1. Changing jobs doesn’t mean your super has to change

Fast facts

  • The average Australian will have around ten jobs in their lifetime.
  • This equates to a new job every four years.

Most of us do it – but you don’t actually have to join your new employer’s super fund every time you move to a new job. After all, you don’t change your bank account each time – so why your super account? 


  • Choosing one super fund and taking it with you as you move jobs means you won’t end up with lots of super accounts or risk actually forgetting about some of your hard-earned super money
  • It’s far easier to keep track of just one super account balance and decide on just one investment strategy.
  • Having one super account means you’re only paying one set of fees – which can mean lots more money in your pocket when you retire. 

2. More super, less tax

By salary sacrificing 5% of their salary, a 40-year-old earning $75,000 a year could be $232,000 better off at age 65.*

Salary sacrifice means you simply divert a set amount from your gross salary into your super each time you get paid. This means you grow your super and pay less income tax.

Whether or not you’ve just had a pay rise, putting extra money into your super account can be a pretty smart thing to do – even if it’s just small ongoing amounts.

For example, as the chart below shows, a 35-year-old salary sacrificing just $20 a week could end up over $100,000 better off when they retire.*

And it’s easy to start salary sacrificing – just ask your employer’s HR or payroll department. Usually you just have to fill in a quick form. 

How much super do you need?

Everyone has a different idea of what life after work looks like – and obviously this affects how much your retirement will cost. A more tailored way of working out how much super you’ll need for retirement is by using our Retirement Simulator. This super simple tool can help you work out if your savings are on track and give you options to improve your results.

*Assumptions: Additional retirement savings are expressed in future dollars. 6.5% gross investment return. Contributions are made at the beginning of the year / Earnings are calculated at the end of the year / Indexation at 3%. 

Tags: Super