Is your super working hard today?

Greater visibility is a practical benefit of Payday super. With contributions linked to each pay cycle, it is easier to compare what appears on your payslip with what is reaching your super account. Under the new system, super contributions generally need to be received by an employee’s super fund within seven business days after payday.

Your employer’s compulsory contribution is currently 12% of qualifying earnings for eligible employees. Make a habit of checking your super account periodically. If the figures don’t look right, investigate rather than assuming everything is happening automatically.

Knowing your super balance is useful, but it doesn’t tell you whether your money is invested appropriately. Your investment strategy can influence how your super grows over many years. The appropriate mix will depend on factors including your age, objectives, appetite for risk and how long you have until retirement.

If you selected an investment option years ago and haven’t looked at it since, consider whether it still reflects your circumstances today. Someone in their 40s may have very different requirements from someone planning to retire within five years. And as retirement approaches, considerations around investment risk, liquidity and the income your assets will eventually need to generate become important.

The goal isn’t to react to every market movement. It’s to ensure your investment strategy remains aligned with your longer-term plan.

While the timing of superannuation contributions has changed it doesn’t necessarily answer whether the amount going into super will be sufficient for the retirement you want. That is a personal calculation.

Think about what retirement looks like for you. When would you like to stop working? What level of income might you need? Do you want to travel regularly? Help children or grandchildren? Maintain your current lifestyle? Retire earlier than the traditional retirement age?

Once you have a clearer destination, you can consider whether your current super trajectory is likely to take you there. Additional concessional or non-concessional contributions may form part of that strategy, depending on your circumstances. From 1 July 2026, the concessional contributions cap is $32,500, although contribution rules and individual eligibility need to be considered carefully before acting.

For some people, increasing contributions may be appropriate. For others, reducing debt or building investments outside super could be a higher priority. Consulting with your financial adviser is highly recommended. The sooner you do it, the better your outcome will be.

Superannuation shouldn’t necessarily be viewed in isolation. Your retirement may eventually be funded by a combination of super, investments, savings, property and other assets. If you plan to retire before you can access your super, you will need investments or savings outside the superannuation environment.

First Financial’s approach to retirement investing recognises this balance between super and assets held outside super, particularly for people who want greater flexibility over when and how they retire. This is where financial planning goes beyond simply asking, “How much super do I have?”

Instead, consider questions such as: What income will I eventually need? Where will it come from? When will I need access to it? And how should my assets work together to support the life I want?

Don’t wait until retirement is approaching to pay attention to your super. With contributions now arriving more regularly, August is an ideal time to log in, check what is happening and think beyond the balance on the screen.

Review your contributions. Look at how your super is invested. Consider whether you are contributing enough. Most importantly, think about how super fits within your broader wealth and retirement strategy.

The team at First Financial comprises financial experts who help hundreds of Australians retire well and make informed, intelligent financial decisions. We cover everything from retirement and financial advice, investment and wealth management, superannuation and SMSF, insurance, tax, aged care, legal and lending services.

Contact us for holistic, well-rounded financial management strategies.