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Smart ways to grow your super as you approach retirement

Retirement isn’t a single moment. It’s a long, wonderful chapter – and the choices you make today help determine how confidently you’ll step into it.

Whether you’re 10 years or more away, or rounding the final bend into retirement, your super will always benefit from some love. Here’s how to make the most of your contribution opportunities.

3–10 years from retirement – Building momentum

These are your prime years for super growth. With time on your side, even small boosts now can snowball into a bigger and better retirement. Maximising contributions as you head towards retirement can significantly influence your final balance.

Boost with concessional contributions

Concessional (before tax) contributions are employer contributions; salary sacrifice and personal deductible contributions. The concessional contribution cap for the 2025/26 financial year is $30,000*.

A salary sacrifice arrangement is a simple, tax effective way to increase your super while lowering your taxable income. Think of it as small sacrifices now boosting your enjoyment in retirement later.

Add after tax contributions for extra fuel

Non concessional (after tax) contributions help grow the tax-free component of your super. These are currently capped at $120,000* for the 2025/26 financial year.

These contributions directly increase the tax-free component of your balance – a subtle but powerful way to improve potential after tax outcomes in retirement.

1–3 years from retirement – making the most of your final opportunities

This is your opportunity to optimise the last of your contribution strategies before your super needs to work for you in retirement.

Top up while there’s still time

You can continue making concessional contributions up to the cap amount – and if your total super balance is under $500,000 on 30 June of the previous financial year, you may be able to access unused concessional cap amounts from the past five years under the carry forward rules.

Non concessional contributions are also available too, provided your total super balance is below the relevant Australian Taxation Office (ATO) threshold on 30 June of the previous financial year. Depending on your eligibility, you may be able to contribute more than the annual cap by bringing forward up to two future years of contributions under the
bring-forward arrangement.

Consider a downsizer contribution

If you’re considering selling your home over the coming years, a downsizer contribution could be a powerful boost to your future super balance. Eligible Australians aged 55 or over can contribute up to $300,000 (or $600,000 per couple) from the sale of a qualifying home. Best of all, this contribution does not count towards your concessional or non concessional caps.

You don’t need to buy a new home and there’s no upper age limit later – just make sure the property meets the requirements and has been owned for at least 10 years. This can be a smart long-term strategy to plan ahead for a more comfortable, flexible retirement.

There are some rules and criteria to meet to make a downsizer contribution – but it’s worth exploring if you plan to sell your home as it can significantly strengthen your retirement income options.

Keep track of your caps

No one wants an unexpected tax bill. The ATO offers online services via myGov to help you monitor both concessional and non concessional contributions, which can be especially useful if you’re contributing across multiple funds.

Keep in mind that myGov generally shows your contribution totals as at 30 June of the previous financial year, so it may not reflect your most recent contributions.

Review your investment approach

Do your investments match your financial goals? Check your super fund’s range of investment options – and align your investments to your risk appetite.

Ready to create your retirement?

Retirement is more than a destination – it’s a lifestyle you deserve. And the right contribution strategy today brings you closer to the freedom and confidence you need tomorrow.

 

* From 1 July 2026, the concessional contribution cap and the non concessional contribution cap will increase to $32,500 and $130,000 per financial year, respectively.

 

Source: MLC

 

Hardik Gupta

Senior Paraplanner

Education: Master of Business Administration (Finance & marketing) & Bachelor of technology (B.tech)

Hardik is a financial professional with an MBA in Finance and extensive expertise in financial planning. As a Senior Paraplanner, he brings a wealth of knowledge and a deep commitment to helping clients achieve their financial goals.

With significant experience in the financial industry, Hardik excels in creating detailed financial plans, performing comprehensive financial analyses, and supporting financial advisors with client portfolio management. His strong background in finance provides him with a robust understanding of market dynamics, investment strategies, and risk management, enabling him to deliver tailored solutions that align with each client’s unique needs.

In his free time, Hardik enjoys spending quality time with his family, biking, playing snooker, and exploring new culinary delights through cooking.

Mayank Manta

Team Leader

Master’s of Commerce & Bachelor of Commerce

Mayank has 8 years experience in the Financial Services industry, with extensive understanding and in-depth knowledge of Financial Planning.

Mayank enjoys systems and numbers, ensuring that every step that needs to be followed gets done and every step that is unnecessary be removed from the process. Being an open, honest and naturally empathetic person, Mayank goes out of his way to ensure that clients, family and friends are happy and content. In his free time, Mayank enjoys spending quality time with my family, creating lasting memories with the people who matter most to him.

Another activity he enjoys is travelling – exploring new places and experiencing different cultures is something that excites him.

Jack Wyer.

Financial Adviser

Bachelor of Business – Major, Financial Planning

Jack Wyer is a Financial Planning Graduate who has recently commenced his Professional Year with Verity Wealth Solutions. With a Bachelor’s Degree in Business, Majoring in Financial Planning, Jack has demonstrated high achievement, receiving merit awards in both 2021 and 2022. Jack’s passion for helping others and his desire to see others succeed financially have been the driving forces behind his chosen career pathway.

Driven by his passion for financial well-being and his innate ability to connect with others, Jack is dedicated on making an impact on the lives of others. Through his expertise, empathy, and commitment, he strives to empower people to achieve their financial goals.

Alongside his financial planning endeavours, Jack finds joy in spending quality time with friends and family and wants to slowly visit new countries along the way. Jack is also an avid Soccer player, actively playing for a local team. When it comes to supporting a team, Jack goes for Tottenham in the English Premier League.

Jack Wyer’s Adviser Profile