I'm taking time out of the
workforce to care for my
family

Paid parental leave doesn't always include a super component.

Although an increasing number of employers are opting to include super payments on paid parental leave, it isn’t a legal requirement for them to do so. This means your super savings can come to a complete halt for the entire time you’re out of the workforce caring for your family. If you have a partner, one way you can avoid slipping too far behind is with the help of spouse contributions.

For a 30 year old on an annual salary of $50,000, a six year career break can cost $77,000 in lost super accumulation at retirement. – WOMEN IN SUPER, ‘Women & Super: the facts‘, page 3.

yourSUPERto do list

Review account details

It’s important to log in to Tasplan Online regularly and keep your account details up-to-date so your fund doesn’t lose contact with you.

  • Tax file number
    If your tax file number isn’t registered, you’ll pay additional tax.
  • Email address and mobile number
    If your fund loses contact with you, your money could end up at the Australian Tax Office.

Consider spouse contributions

This is where your spouse contributes to your super if you’re working part-time or taking care of things at home. If your spouse contributes to your super, they could even be eligible for a tax offset.

Review your insurance

There are some times in life when you really need to review your insurance, and starting a family is certainly one of those times. Would you and your family be ok financially if you or your partner were injured and couldn’t work for six months, a year or even two?

Insurance premiums can be paid out of your Tasplan account rather than out of your pocket.

Update beneficiary nominations

Make sure your beneficiary nominations are up-to-date. Binding nominations need to be renewed every three years or they’re no longer valid.

Seek help or advice

If you’re just starting out, growing your family, experiencing separation or looking to transition to retirement, seeking help and advice is a good idea.

  • Advice about your account
    If you need general advice about your account, there’s no extra charge for this – just get in touch.
  • Advice about your personal situation
    If you need more personal financial advice, our planners can provide comprehensive advice about all of your finances. You can even pay for advice out of your Tasplan account so it won’t impact your take-home pay.