The article examines the key contribution mechanisms available under current superannuation rules, including concessional contributions, non-concessional contributions, carry-forward concessional contributions and the bring-forward rule. It explains how these strategies can help clients make the most of higher disposable income, career peak earnings and increased engagement with retirement planning during the years leading up to retirement.
The article also explores the role of downsizer contributions, highlighting how eligible clients can contribute proceeds from the sale of the family home into superannuation, while outlining important eligibility requirements and planning considerations. In addition, it discusses spouse contributions and contribution splitting strategies, which can help couples build more balanced superannuation holdings and improve retirement planning flexibility.
Throughout the article, emphasis is placed on the importance of timing, annual reviews and proactive planning. Many contribution opportunities are governed by total super balance thresholds, contribution caps and eligibility rules that can change as a client's circumstances evolve. Understanding these rules and acting early can significantly influence retirement outcomes.
For advisers, the article provides a practical framework for identifying contribution opportunities, managing contribution caps and helping clients maximise the final years of retirement savings accumulation before transitioning into retirement.
Read the full CPD article and complete the accredited quiz to earn 0.5 hours of FAAA CPD in Technical Competence (Superannuation).