What is Superannuation?
It really is the $3.1 trillion dollar question. . .
Superannuation or ‘Super’ for short, is a savings plan for your retirement or when you’re no longer working.
The Keating Government implemented a compulsory contribution scheme that was designed to take some of the pressure off the aged pension that was solely funded by the government in a country with an increasing aged population.
Superannuation is one of the most tax-effective vehicles for creating wealth in Australia. With such a long-term investment strategy, a key element to its success is the ability for your investments to grow with compound interest.
Self-Managed Super Funds (SMSFs) have become a popular strategy for many Australians who want to have more control over their retirement and invest in assets such as crypto currency, real property, and collectors items such as artworks, cars and wine collections.
At Philos, we provide a holistic view of superannuation in line with your over-arching wealth creation strategy. As of 2021, there’s more than $13 billion in lost and unclaimed Super in Australia. Could some of this be yours? Get in touch and we will provide you with a complimentary lost superannuation search.