In this segment, we highlighted some of the most common mistakes and oversights Australians make with their superannuation — simple things that can have a big impact on your retirement if left unchecked.
We covered:
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Are your details up to date?
Changes like moving house, switching jobs, or getting married can mean your contact details don’t match your fund’s records. This can lead to missed statements or even lost super. -
Is your beneficiary listed correctly?
Many people never update their beneficiary nomination. We stressed how important it is to check who you’ve nominated so your super is directed according to your wishes. -
Are your employer contributions being received?
With the Super Guarantee now at 12%, it’s essential to check that contributions are being paid on time and at the correct rate. -
What insurance do you have inside super?
Most super funds include insurance by default, but cover amounts and premiums vary. We reminded listeners to check what cover they have and whether it still suits their needs. -
What are you invested in?
Super isn’t just a savings account — it’s invested. Many people don’t know their investment option, even though it affects how much their super grows over time. -
Do you have multiple super funds?
Having more than one account often means doubling up on fees and insurance premiums. Consolidating can help your balance grow faster.
The message was clear: super is one of your most valuable assets, but it’s often overlooked. Taking a little time to check these details can make a huge difference to your financial future.
