Why Superannuation is so important? The role of super in every Australian’s life:

Australia’s superannuation system is one of the best retirement systems in the world, and with the right guidance, its complexities can unlock powerful opportunities for your future.

• Currently, employers are required to pay 12% from 1/07/2025, of your ordinary wages into your super as a form of compulsory saving for your future. This is for both Australians and Temporary Visa workers.
• Superannuation is a compulsory retirement savings for everyone working in Australia.
• Your super continues to build, with contributions, and importantly, investment returns over your working life. By the time you retire, it will have grown to become a very significant asset.
• Superannuation can protect you and your family against loss of income through insurance, if you are adequately covered.
• Superannuation is designed to provide income once you stop working in retirement. Hence, it is important to understand your Super grows while you are still working. The superannuation can provide you with a long-term income in retirement. The income generated from your super balance will determine the lifestyle you can afford in retirement. 
• Superannuation works hand-in-hand with the Government Age Pension which you might qualify for, to support your lifestyle when you stop working.

Currently many Australians’ income in retirement is a combination of both their Superannuation income and the Government / Centrelink Aged Pension.

Growing your super means more income in retirement — and for a longer period. Hence, the sooner you start the better it is for your future.

A short history of superannuation:

Superannuation started for all Australian workers with the Federal Government Superannuation Guarantee legislation in 1992.

This legislation required employers to contribute 3% of an employee’s wage to a superannuation fund.

Before 1992 superannuation was only available to private sector executives and public servants. It was viewed as a benefit for high income earners.

Prior to 1992 all Australian workers could rely on in retirement was their own personal savings and the Centrelink age pension.

The concept of ‘dignity in retirement’ had taken hold in Australian society. The strong view was that after a lifetime in the workforce they should have more than just the Centrelink aged pension to rely on in retirement.

How can we help you?

Arpita Bhatt, a principal financial advisor at Audient Financial believes that your financial plan should reflect your unique life, not a one-size-fits-all template.

Led by Principal Financial Advisor Arpita Bhatt, we take a personalised, strategic approach to ensure your superannuation is working effectively for you and no matter what stage of life you’re in.

We simplify the complexities of superannuation, helping you grow your superannuation portfolio and feel secure about your financial future.

Financial Advisor Arpita Bhatt will help you with the following:

1. Superannuation Account Review
   Identify if you have multiple super accounts across different funds. Recommend the most suitable fund based on your needs and assist with consolidating your super into one account to reduce fees and improve growth.
2. Investment Strategy Review and Recommendation
   Assess your risk profile. Recommend the most appropriate investment options aligned with your risk profile, goals and time horizon.
3. Beneficiary Nomination Review
   Evaluate your current beneficiary arrangements: non-binding or binding. Recommend updates to ensure your nominations are tax-effective and reflect your current circumstances.
4. Contribution Strategy
   Review your current contribution arrangements. Recommending tailored contribution strategies such as:

    

   • Before-tax (concessional) contributions like salary sacrifice and personal deductible contributions.
   • After-tax (non-concessional) contributions, if suitable for your situation.
   • Spouse contributions to even up super balances.
   • Downsizer contributions for those eligible, allowing you to contribute proceeds from selling the family home.
   • Other smart strategies to maximise your super and minimise your tax.
5. Insurance Assessment Within Super
   Review your existing personal insurance cover inside your super. Conduct a need/gap analysis to recommend the right level of cover. Provide advice on Life, Total & Permanent Disability (TPD), Trauma, and Income Protection, inside or outside of superannuation.

We can help you take advantage of opportunities that can accelerate your retirement savings and save you money along the way.

When is the best time to review your Super?

Right now.

Now is the best time to review your super if you haven’t already. The earlier you start, the more you can benefit from “compounding returns” where your money earns interest on interest, growing faster over time.

Even small adjustments today can lead to significant results in the future.

Famous quote: “One step in a new direction can lead you to an entirely different destination.”

Why it is important to review your super?

We all are unique and so are our life circumstances. One size doesn’t fit all because your life is unique.

Different stages of life require different strategies. As we move through life, our financial needs change. That’s why a strategy for someone in their 30s or 40s looks very different from someone planning retirement in their 50s or 60s.

How often should I review my super?

Superannuation is not a “set and forget” strategy. Whether you’re just starting your career or approaching retirement, a regular super check-up ensures your money is aligned with your goals and working hard for your future.

At a minimum, it’s recommended to:

• Review your super annually, and
• Reassess whenever your life circumstances change — such as a new job, salary change, marriage, children, or approaching retirement.

If your super fund offers advice, why should you see a licensed financial advisor outside super?

It’s true — many super funds offer help reviewing your super account and may even provide limited advice at no extra cost or for a minimal fee.

However, it’s important to understand that super fund advice is usually limited to your superannuation account only — not your full financial picture.

At Audient Financial Planning, we take a holistic approach. As a licensed financial adviser, Arpita Bhatt considers your entire financial situation, including:

• Superannuation
• Tax planning opportunities
• Cash flow management
• Investments
• Education savings for your children
• Retirement planning
• Centrelink strategies
• Estate planning

This means you receive comprehensive, personalised advice — so you don’t miss out on strategies that could improve your financial outcomes both now and in the future.