Superannuation – what does it mean to me?
When you are young, superannuation is one of those conversation topics that only older people seem to have.
You might have a vague understanding of what it is but with retirement so far away, it is easy to think that super is not relevant to anything you are doing today.
But if you’ve started working, even in a part- time job, super is already part of your financial future. You just don’t know it yet.
Your employer has to pay you superannuation as part of your wage.
This percentage, which is usually around 9-10% of your earnings (depending on Government policy), is paid directly into a superannuation account set up just for you.
It is money that you don’t see and cannot access until you retire (or in some special circumstances, a little earlier).
Think of it as enforced saving, with money slowly building up over your working years so that when you eventually retire, you will hopefully have enough money to live on in your senior years.
The earlier you start superannuation, the better your future will be. That’s why it’s worth spending a little time with your bank to get your superannuation sorted.
At Beyond Bank, we understand that superannuation may not exactly be high on your priority list when you’re starting out.
You’ve got more exciting things to think about like career, family, buying a car, a home.
Our Beyond Super account sits alongside your other accounts and lets you keep track and control of how it is going.
You can access it any time you want through your Beyond Bank Internet Banking, add extra cash, watch the balance grow and even consider investing some of it. It’s that easy.
To get started, all you need to do is set up your Beyond Super account and then let your employer know the account details which will allow them to pay your super straight in.
If you’ve already joined other superannuation funds through previous employment, that’s not a problem as we can help you roll it all over into the one account saving you both time and money.
Super doesn’t need to be stressful. As long as you spend a few minutes getting it set up, you’ll be well on your way to creating a prosperous and profitable future.
To set up Beyond Super, log into Beyond Bank Internet Banking, select ‘Apply’ from the menu and ‘Create superannuation account’.
This information does not take into account your personal objective, financial situation or needs. You should read the Product Disclosure Statement (PDS) available before making a decision to acquire this product. Fees and costs apply. Beyond Super is issued by Equity Trustees Superannuation Limited RSE License No L0001458 (ABN 50 055 641 757 AFSL 229757) as trustee of the CUBS Superannuation Fund (ABN 90 120 177 925). Community CPS Australia Ltd trading as Beyond Bank Australia (ABN 15 087 651 143, AFSL 237856) is a sub-promoter of the CUBS Superannuation Fund and issuer of this brochure. Neither the trustee nor Beyond Bank or related entities guarantee the return of capital or the performance of any investment option or the Fund.
Insurance cover is provided to eligible Fund members by TAL Life Limited (ABN 70 050 109 450, AFSL 237848).You should consider the Beyond Super Product Disclosure Statement (including incorporated information) issued by Equity Trustees Superannuation Limited before deciding whether to acquire insurance cover. Insurance cover is subject to eligibility criteria and acceptance by TAL, and may cease in certain circumstances including if there are insufficient funds held in your Beyond Super account to pay insurance premiums, refer to the Insurance Factsheet for further information. Fees and charges apply; refer to Fees and Costs Factsheet for more information.