Three Things Today That Will Change Your Tomorrow
Jul 16, 2020
Given the impact COVID-19 may have had on many of you, at Club Plus Super we care about your financial wellbeing so we’ve put together some information that could help bridge the gap that COVID-19 may have left in your investments, insurance and superannuation.
The way you invest in super today will really make a difference to how much you will have for tomorrow.
- Choose the investment option that’s right for you
- Review your insurance cover to protect your future
- Boost your savings for retirement
1. Choose the investment option that’s right for you
Super is a long-term investment, so you need to consider the investment option that’s right for your situation. We recommend you take some time to consider which investment option is best for you. It could close the gap created by any recent COVID-19 related losses. To help you consider your investment options, we’ve created three profiles that match how long you have to invest and your risk tolerance with appropriate investment options.
- Starting out - You’ve recently started your working life.
- On your way - You’ve been on your super journey for a while now.
- Almost there - Retirement is less than five years away.
If you would like to read more about these profiles, click here.
2. Review your insurance cover to protect your future
Life’s not predictable, so you may wish to protect yourself and your ability to earn an income against possible sickness or injury. You could do this through insurance cover, such as income protection, death and total and permanent disability (TPD).
In the past, you may have received these insurances automatically when you joined Club Plus Super. However, recent changes by the government to protect members’ accounts from being eroded by fees means you may have to opt-in to maintain your insurance cover. Therefore, now may be a good time to review your existing insurance. To help you understand your insurance arrangements, click here.
3. Boost your savings for retirement
There are lots of ways you can boost your super. Here’s some tips on what you can do now to take advantage of the super tax breaks.
- Check the contributions cap
- Claim a tax deduction for personal contributions
Other ways you can top up your super:
- Salary sacrifice (before tax)
- Low-income super tax offset
- Transition to retirement (TTR) pension
You can find more information about contributions and super tax opportunities at clubplussuper.com.au/threethings.
Seek advice if unsure
While your super is designed to become one of your biggest assets by the time you retire, it’s important to consider your entire financial situation, too. A financial adviser can assess your individual needs, existing investments, commitments and goals to tailor a holistic financial plan. Should you need financial advice, we can refer you to Club Plus Financial Planning to help you with your financial decisions or visit https://www.clubplussuper.com.au/members/members-portal/advice/
Need more information?
To get further information on any of the three things above please click here. We also encourage you to contact your local member services manager, you can find their contact details at clubplussuper.com.au/msm, call us on 1800 680 627 or visit clubplussuper.com.au for further information.
Join Club Plus Super
Would you like become a member of Club Plus Super? Join now and select “I am currently employed’ to receive the industry benefits.
This is general information only and does not take into account your personal objectives, financial situation or needs. Prior to acting on any information in this document you should read the appropriate Product Disclosure Statement for any product you are considering, (available at clubplussuper.com.au or by calling 1800 680 627) and seek independent financial advice around this if you are unsure. Investments can go up and down. Past performance is not necessarily indicative of future performance.
Issued by Club Plus Superannuation Pty Limited, ABN 26 003 217 990, AFSL 245362, the Trustee of the Club Plus Superannuation Scheme ABN 95 275 115 088. Club Plus Super is not licenced to provide general financial product advice except as it relates to our products.
Financial planning advice is provided by Club Plus Financial Planning Pty Ltd (Club Plus Financial Planning), ABN 14 143 636 766 acts as a Corporate Authorised Representative #367058 of Link Advice Pty Ltd, ABN 36 105 811 836 (“Licensee”). The Licensee holds a current Australian Financial Services Licence #258145 and is responsible for the financial services provided to you. Club Plus Financial Planning is an associated company of Club Plus Superannuation Pty Ltd.