Superannuation tips for university students

May 30, 2024

Being at uni can mean juggling a busy schedule of learning and paid work. These simple tips can help keep you across your super – even if it seems like a long time until you can access it:

1 Pick a super fund for the long-term
Choose a top-performing fund, looking at fees and long-term performance. Remember, if you’re in your early 20s, your super could be invested for at least 40 years. Compare supers on the ATO’s YourSuper website.

2. Let new employers know the super fund you’re with

For most jobs you can choose your super fund. So tell your employer which fund you are with and provide them with key information like your fund’s unique superannuation identifier (USI) and Australian Business Number (ABN).

3 Make sure you’re getting super contributions

In Australia, employers must pay the super guarantee (SG). You may be eligible if you’re an employee (rather than a contractor),18 years old or older, or under 18 years old but you work 30+ hours a week.

 

4 Understand net benefit
When it comes to your super, net benefit is a combo of the investment return delivered to you by your fund  minus the admin fees, investment fees and taxes.

 

5 Find any lost super

Had more than one job? You might have ‘lost’ super. Doing a simple super search could help track down any money that belongs to you. And if you find lost super, consider combining1 your accounts into one to help save on fees.

To learn more, compare or check if you're with a top performing fund, visit australiansuper.com/compare-us