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Check up on savings

Older individuals often forget to perform checks on their retirement savings.

It is essential that individuals check that their retirement savings are on track to finance their planned standard of living in retirement. Otherwise, they could be left short when they are ready to retire.

A common time to perform these checks is in the final decade before the date of intended retirement; however, it is a good idea to perform them throughout a person’s working life.

Performing these checks can also allow an individual to focus on maximising their super in the countdown to their retirement.

Policymakers are also interested in retirement savings checks as it allows them to gain an understanding of whether Australia’s retirement savings will be adequate, or if there will be strong demand for the age pension.

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News

Protecting yourself from super scams

January 14, 2021

Superannuation is an attractive target for scammers as a significant volume of funds are placed into super funds by Australians.

There are some straightforward steps you can take to protect yourself from super scams.

Know the rules

Check your balance and contact details

Stop identity theft