Boost your retirement savings and pay less tax

Adding a little extra to your super today could make a big difference to your future

If you can afford to do so, adding extra money to your super is a great way to boost your retirement savings, and reduce your tax bill today.

It’s also valuable if you’ve missed out on super while taking time off work, like when caring for children or relatives.

Two easy ways to make extra contributions

There are two different ways to make extra super contributions.

1. After-tax contributions

An after-tax contribution is where you pay money into your super from your bank account, savings or lump sums such as an inheritance or tax return. You have already paid tax on this money.

The benefits:

Useful if you want to pay one-off amounts into your super
You can contribute larger amounts – the annual limit is $120,000, but you can also bring forward up to three years of after-tax contributions. Rules apply.
You may also be able to claim a tax deduction for this type of contribution
Investment earnings are taxed at a lower rate in your super than money saved outside super

How to set this up:

Fill out the  Contribution form (PDF) and return it to us by email or post.

Make a payment via BPAY. Simply log into your firstonline account or the mobile app. Navigate to ‘Make a contribution’ where you will find our BPAY biller code and your unique Customer Reference Number.

2. Salary sacrifice

Salary sacrifice is where you ask your employer to pay an extra amount from your regular salary towards your super. This is also known as a ‘before-tax’ contribution.

This is on top of the mandatory 11.5% superannuation your employer already pays.

The benefits:

You are reducing your taxable income, which means you could pay less tax
Money saved into your super (plus investment earnings) is taxed at a lower rate (15%) than money held outside super, which for most people is somewhere between 30-49%.
Set and forget: because it comes straight out of your pay, it takes the legwork out of saving

How to set this up:

Fill out the  Contribution form (PDF) and return it to us by email or post.

Contact your employer to ask them to set up salary sacrifice contributions. Use our handy email template below to notify your employer.

See how much extra savings you could have by making additional contributions with the super contributions calculator.

Need help?

Call our friendly Member Services team 1300 360 988

Example email template

Subject: Salary sacrifice

Hi [First name],

Re: Salary Sacrifice

Please deduct [Enter $ amount / amount %] per month from my salary and send it to First Super (ABN 56 286 625 181, Unique Superannuation Identifier (USI) FIS0001AU).

I understand that this does not affect the money you contribute as my employer for the Super Guarantee, my remuneration package or any insurance.

Regards,

[Your name]

See how much better off you could be in retirement

Let’s compare a few people’s retirement savings to see what impact making extra contributions can make.

Sandra makes up for gaps in her super after parental leave

Sandra and Natalie are both aged 37.
Both earn $83,200 and have a super balance of $75,785. Both have just returned to work after a year of parental leave.
Their employers did not pay super while they were on leave.¹
Sandra chooses to set up a salary sacrifice arrangement with her employer to grow her super balance. She works out that she can afford to pay an additional $300 per month over three years to make up for the contributions she missed during her parental leave.
Natalie will retire with $1,075,898. Sandra will retire with $1,111,701 – over $35,000 more than Natalie, but she only added an extra $10,800 to her super. This is due to the impact of compounding returns on her super.
In the first year of salary sacrifice contributions, Sandra will also save $595 more in tax than Natalie.

Assumptions

Sandra and Natalie are not actual members. Their stories have been created for illustrative purposes.
Comparisons show the difference in retirement balance based on Sandra and Natalie contributing 11.5% Super Guarantee (SG), starting on an annual salary of $83,200 and presuming annual wage growth of 2.5% each year until age 65. Sandra contributes an extra $300 each pay (monthly) for three years from age 37-39.
Salary is the median gross salary for women aged 35-44 according to the ABS.
Modelling presumes a starting super balance of $75,785 based on 2023 Association of Superannuation Funds of Australia (ASFA) average super balance for women aged 35-39.
The comparison assumes Sandra and Natalie retire at age 65 on a ‘comfortable’ retirement standard. A rate of return of 5.75% has been applied to their super balances. Taxation has been calculated based on 2024/25 rates.

Adam makes a one-off extra payment to his super

Adam and Mark are both 47, and earning $101,400.
Both have a starting super balance of $190,716.
Adam decides to make a one-off after-tax contribution to his super after receiving a tax return of $5,000.
Meanwhile, Mark does not make any additional contributions to his super.
Adam will retire with $816,207, over $11,000 more than Mark who will retire with $804,679.

Assumptions

Adam and Mark are not actual members. Their stories have been created for illustrative purposes.
Comparisons show the difference in retirement balance based on Adam and Mark contributing 11.5% Super Guarantee (SG), starting on an annual salary of $101,400 and presuming annual wage growth of 2.5% each year until age 65. Adam contributes a one-off $5,000 to his super at age 47.
Salary is the median gross salary for men aged 45-54 according to the ABS.
Modelling presumes a starting super balance of $190,716 based on 2023 Association of Superannuation Funds of Australia (ASFA) average super balance for men aged 45-49.
The comparison assumes Adam and Mark retire at age 65 on a ‘comfortable’ retirement standard. A rate of return of 5.75% has been applied to their super balances. Taxation has been calculated based on 2024/25 rates.

Things to consider

Using a budgeting tool like MoneySmart’s budget planner tool could help you work out how much you are able to contribute to your super. Visit moneysmart.gov.au.
The government has limits on how much you can contribute to your super without paying extra tax. Read more about how super is taxed.
If now’s not the best time, that’s okay. But remember, when your circumstances change – like getting a pay rise, a bonus, or a tax refund – it could be the perfect opportunity to boost your super.

We’re here to help. So, let’s talk

If you have any questions, call our Member Services team on 1300 360 988, email us, use the Live Chat, or click the button below and we’ll call you back at a time that suits you.

Disclaimer
¹From 1 July 2025, the Government will pay superannuation on Paid Parental Leave.
Issued by First Super Pty Ltd (ABN 42 053 498 472, AFSL 223988), as Trustee of First Super (ABN 56 286 625 181). Past returns are not an indicator of future returns. This page contains general advice which has been prepared without taking into account your objectives, financial situation or needs. You should consider whether the advice is appropriate for you and read the Product Disclosure Statement (PDS) before making any investment decisions. To obtain a copy of the PDS or Target Market Determination please contact First Super on 1300 360 988 or visit our PDS & Publications page.