Superannuation should play a key role in your retirement planning due to its tax incentives. Unfortunately many people do not realise this and significant number of people do not take ownership in managing their superannuation as they are unable to access their super until retirement which could be many years from now.
This adverse view toward superannuation is reflected in ATO finding in 2017 which stated that there is a total 6.3 million of lost super which represent a value of just under $18 billion. A lot of people also have multiple superannuation account which accounted to about 40% of all Australians who has superannuation account. Having multiple number of superannuation may erode the performance of your super as each super provide charge administration fees and insurance premium that you may not need. Take control of your superannuation now and start saving for your retirement.
At Wealth Alliance, we can: