Do you put superannuation in the “too hard basket?” Maybe it’s something you know is happening in the background of your life, but you don’t pay a lot of attention to it. However, super is your savings and can ultimately shape your future. Taking a few simple steps now can help create the retirement you’ve always wanted.

NGS Super breaks down misconceptions that super is “complicated” or “confusing” by sharing these 5 easy steps:

1.  Online access

Check your balance and check that your employer is paying your super into your chosen super fund by logging into your account regularly. While you’re there, you can review your personal details and make sure they are up to date.

2.  Consolidate your super

Consolidating your super into one account can set your super up for success. Consolidating your super into one fund can help you save on fees and make it easier to keep track of your super savings. Just be sure to check your insurance cover before consolidating so you don’t lose any benefits.

3.  Check your insurance cover

To help protect what matters most, many super funds provide access to affordable, high-quality insurance designed to support members and their families if the need arises. Most members of industry super funds have default insurance cover, which may include Death cover, Total and Permanent Disablement (TPD) cover, and Income Protection cover.

4.  Update your beneficiaries

Nominating beneficiaries is the only way to have your say on who you’d like your super funds to go to. Your will does not cover super under Australian law. Without a nominated beneficiary, your super fund must follow the standard legal procedures to select a beneficiary for you (either one of your dependants or your legal personal representative).

Making a super beneficiary nomination provides clarity and prevents confusion or hassle for your loved ones in the event of your death. By providing this formal written direction and ensuring it’s always up to date, you can get your super account balance paid to your chosen beneficiary.

5.  Review your investments

You can’t control the ups and downs of the investment market, but you can control how you invest your super. There are usually a variety of investment options

available to choose from to suit your stage of life, your risk appetite and personal goals. Before making any decisions on your investment options, it is important to seek professional financial advice.

Want to learn more about super?

It doesn’t have to be confusing. By learning more about super and improving your financial literacy, you can take control of your finances. NGS Super has a range of resources, including articles, webinars and socials, that you can access to keep you on the right track.

Want to chat to a person for guidance on navigating super?

NGS Super Specialists are here to help. They can answer your questions about superannuation and clear up any questions you may have.

Book your free chat with a Super Specialist.

Print this easy 5 step checklist and pass it on to a friend, family member or co-worker and help them to manage their super in a simple way.

This is general information only and does not take into account your objectives, financial situation or needs. Before acting on this information, or making an investment decision, consider whether it is appropriate to you and read our Product Disclosure Statements and Target Market Determinations. You should also consider obtaining financial, taxation and/or legal advice tailored to your personal circumstances before making a decision. This information has been issued by NGS Super Pty Ltd ABN 46 003 491 487 as trustee of NGS Super ABN 73 549 180 515, RSE Licence L0000567 and AFSL 233 154.