Changes to insurance benefit amounts
The NSF Super Trustee recently issued a Significant Event Notice (SEN) to members relating to changes to insurance benefit amounts, premiums and terms from 1 July 2016.
You can view the SEN by clicking here.
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In 1992, the government made superannuation compulsory to ensure that every working Australian saved for their retirement. The policy aimed to address the challenge of retirement income in three ways.
Government legislation allows your spouse to make spouse superannuation contributions for you if you earn up to $40,000, and claim a tax offset. If you earn below $37,000, your spouse can claim the maximum tax offset of $540 when they contribute at least $3,000 to your super. Find out more.
The Australian Taxation Office (ATO) has released the key superannuation rates and thresholds for the 2019 - 2020 financial year.