Contributing to Super
Boost your nest egg
Making additional payments into your super can be an effective way to grow your super balance. This can be done by making after tax contributions from your own pocket or by salary sacrificing. The rules around contributing to super can be complex and confusing so this section of our site aims to provide practical guidance to help our members make the right contributions.
Super contributions before age 65
Super is available to everyone between the ages of 18 and 64 to make contributions without the need to provide evidence of being gainfully employed.
Super contributions from age 65
Compulsory employer
Contributions may be made to any age. Compulsory employer contributions are contributions the employer is required to pay under Superannuation Guarantee legislation, an industrial Award or a Certified Agreement.
Voluntary employer
Contributions can be made up to age 75 during a financial year provided the member has worked at least 40 hours in a period of not more than 30 consecutive days in that financial year. Member salary sacrifice (before tax) contributions are deemed to be voluntary employer contributions.
Member non-concessional (after tax)
Contributions can be made to age 75 during a financial year provided the member has worked at least 40 hours in a period of not more than 30 consecutive days in that financial year.
Downsizing contributions into super
If you are 65 or over and have sold your home you may be able to contribute up to $300,000 from the proceeds of downsizing your main residence. Your spouse may also be able to make a contribution. This amount is not considered a non-concessional contribution and does not count towards your non-concessional cap or your total super balance test. To be eligible, you must have entered into the contract of sale on or after 1 July 2018 and owned the home for 10 years or more.
Member contributions on behalf of a spouse
Contributions can be made for a member spouse until that spouse is 65, or prior to age 70 if the spouse has worked at least 40 hours in a period of not more than 30 consecutive days in that financial year.
What is salary sacrifice?
Salary sacrifice is an arrangement between you and your employer where you agree to forego part of your future salary or wages in return for your employer providing benefits of a similar value.
Voluntary member contributions
Members are able to make personal contributions to their superannuation. These contributions can be paid from your after tax salary or, with the consent of your employer, from your pre-tax salary We recommend you seek advice from your financial adviser if you wish to find out more information about paying member contributions and the arrangements that might best suit you.
Contributions can be deducted from your pay and sent to VISSF by your employer, or you can send contributions via BPAY. To access your BPAY details, simply login to Member Online where you will find our biller code and your personal reference number. Or contact our Client Services Team if you need more help.
You may select your contribution amount and you can start or stop making contributions at any time.
First home super saver scheme
This allows you to make voluntary concessional and non-concessional contributions into your super fund to save for your first home. From 1 July 2018, if you are 18 years or over, you can apply to release these contributions, along with associated earnings (up to a maximum of $15,000 from any one financial year and $30,000 in total across all years), for the purpose of helping you purchase your first home that you intend to live in.
