Here are some strategies to boost your super to ensure you have enough for retirement.

1. Start early

The sooner you start contributing to your super, the sooner you will start earning investment returns. The power of compounding is significant. Find out more about compounding.

2. Increase your regular contributions and you’ll be rewarded

Generally, the more you personally contribute to your super, the more your employer will contribute! Do you know what contribution you are paying? If it’s under 5%, can you afford to pay even 1% more? Find out more about standard contributions with QSuper.

3. Make voluntary contributions

Even small contributions to your super can make a difference to your investment! Do you have some savings you can invest in your super account? The more you can invest, the more your savings will grow. There are tax benefits associated with some ways in which you contribute. Find out more about voluntary contributions with QSuper.

4. Invest for the long term

Retirement is a long way off for some, and many people expect to be retired for a long time. It makes sense to consider investing in assets expected to perform well over the long term because super is a long-term investment. This may mean investing in growth assets like shares and property. However, it's important that you feel comfortable with the way your super is invested.

5. Consolidate

Many people have two, three, or even more super funds and keeping track of them can be difficult. There are lots of reasons to consider consolidating your super.

• Save on fees – super funds charge fees in different ways. Often having one account or one super fund can save you money on fees.
• Reduce paperwork – getting just one annual statement and report from your fund helps you keep in control of what's happening to your super (and it saves trees as well!)
• Keep in contact with your super – more than $9 billion of Australian super is in lost accounts. A lost account is where the super fund has lost contact with a member. If you have only one account you are less likely to lose track of it.

Before you consolidate your super, you should make sure:

• there are no unreasonable charges or penalties for moving your money between funds
• you do not lose insurance cover if you close an account.

Find out more about consolidating your super with QSuper.

6. Take care with lump sums

A lump sum may seem like a lottery win but your super needs to last as long as you do! With careful planning and financial management skills you can eliminate or minimise the tax you may pay in retirement.

7. Take advantage of what super has to offer

Read about your super and don't be afraid to ask questions about it. We send you a benefit statement and a report about your super annually, and you can check your account online anytime.

Look for opportunities to boost your super and use the additional services offered by your super fund. For instance, do you know what insurance you have? Are you over or under insured and can your super fund help with that?