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Retirement

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Learn about super

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The best thing we’ve ever done in planning our retirement is seeking the advice from Hostplus.

Comprehensive personal advice could help you get on track to a future full of positivity. 

Forms and resources

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Government contributions

Government

You may be eligible for an extra super contribution from the government of up to $500. Check your eligibility today.

Money from the
government for you to keep

If you’re a low-to-middle-income earner and make a personal (after-tax) super contribution to your super, the government could pay up to $500 directly into your super. Eligibility criteria apply. 

Eligibility for government co-contributions

To qualify for the government co-contribution, you need to:

  • have made one or more eligible personal super contributions to your super account during the financial year
  • pass the two income tests (income threshold and 10% eligible income tests)
  • be under 71 years old at the end of the financial year
  • not hold a temporary visa at any time during the financial year (unless you're a New Zealand citizen, or it was a prescribed visa)
  • lodge your tax return for the relevant financial year
  • have a total superannation balance* less than the general transfer balance cap at the end of 30 June of the previous financial year
  • not have contributed more than your non-concessional contributions cap, and
  • earn less than $58,445.
     

Find out more about the government co-contribution scheme and whether or not you're eligible to get a super boost.

Make an extra contribution into your super now

The government will only make a contribution to your super if you’ve made a personal contribution during the financial year and meet the eligibility criteria outlined above. Think of it as the government rewarding your commitment to a financially fit future.

If you’re eligible, the government will add an extra 50 cents to every after-tax dollar (up to $1,000) you contribute into your super. That’s up to $500 extra into your super each year, which could add up to thousands by the time you retire.

Use the super co-contribution calculator on ASIC’s MoneySmart website to find out how much you may be eligible for.

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*Your total superannuation balance is the total value of your accumulation and retirement phase interests (including rollover amounts not yet included in those interests) across all of your superannuation accounts, reduced by the sum of any structured settlement contributions.