GWF have partnered with PictureWealth to provide financial wellness services that are tailored for you.
What is Super?
There’s often a lot of jargon used when explaining what super is about, so we’ll keep this simple.
There’s often a lot of jargon used when explaining what super is about, so we’ll keep this simple.
Super is about saving money over your working career so that when you stop working in your retirement years, you will have saved enough money to maintain your lifestyle standards in retirement. So, the sooner you start sorting out your super, the more money you will have at the end of your working career.
GWF will start paying super contributions to your chosen super fund. These are known as Super Guarantee (SG) contributions, and they are a substantial amount of your salary. Over the long term the contributions and the investment returns on your super will help you to secure your financial future.
The SG contribution at present stands at 10.5% of your salary and will steadily increase until 1 July 2025 when it reaches 12%.
Click here to help you understand the features & benefits of the plan tailored exclusively for all employees.
When starting a new job, it is always best to do a health check on your super fund. Your life circumstances may have changed and choosing the right super fund will help you to maximise immediate and long-term benefits that are available to you.
Please note that your employer must ensure that future super contributions are paid to an existing superannuation account that is ‘stapled’ to your MyGov account. This prevents the creation of duplicate or multiple super accounts and ensures that your super account follows you as you change jobs throughout your working career.
If you would like to search for an existing super fund account that is stapled to your MyGov account, please access here.
Once you have considered your options and arrived at a decision, please nominate the super fund you wish your employer to make contributes to.
You must notify your employer’s Payroll division of your decision.
If you require a Superannuation Choice form when nominating your fund, you can access the form by clicking on the link below:
Superannuation Choice formIf you are opting to join GWF Superannuation Plan with CFS, then you can nominate via the ‘How to Join’ button here:
Once you have made a choice, you should consider the benefits of combining all your super into the one super fund account. You should also check if you have any lost super money that is being held by the Australian Tax Office (ATO). We can assist you with this process and guide you in consolidating your super fund accounts. Simply reach out to us.
Any general advice contained above does not take account of your personal objectives, financial situation and needs. You should consider the appropriateness of the advice in light of your own objectives, financial situation and needs before acting on the advice. You should also read the relevant Product Disclosure Statement and TMD before acquiring any product.