Superannuation – Almost everyone can pay into a Superannuation fund. These include:
- Self Employed
Superannuation under the age of 65 – Who can contribute:
No restrictions apply .
Superannuation between 65 and 69 inclusive – Who can contribute:
At the time of contribution, must have worked at least 40 hours over a consecutive period of no more than 30 days during the financial year; or contributions are mandated employer contributions**.
Superannuation between 70 and 74 inclusive – Contribution rules
Only personal Undeducted Contributions can be made provided the individual meets the work test (detailed in ages 65-69); or contributions are mandated employer contributions**.
Superannuation age over 75 – Who can contribute:
Individuals over the age of 75 can’t personally contribute, however, payments under a certified agreement or award can still be made at this time.
** Includes Super Guarantee (up to age 70) or contributions under an agreement or an award.