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Adding to your super in retirement

There are so many benefits of keeping your money in the super and retirement system, so why not keep adding to it?

Unfortunately, it’s not that straight forward, there are restrictions on adding money to your Retirement Income account.

Adding money to a Retirement Income account

Retirement Income accounts offer many tax advantages. Adding extra money to your retirement account to enjoy more potential tax-free income and investment returns would be nice, but unfortunately, it’s not possible.

Once you have started your Retirement Income account, you are not able to contribute more money to that account.

However, you are able to add money to your super (accumulation) account.

And there are some clever strategies our financial advisers can help you with, to boost your retirement income without contributing directly to your Retirement Income account.

Adding money to your super

If you do come into some extra money, it is possible to add it to your super account, regardless of whether you’re working or not.

If you are still working

If you are still working you will have a super (accumulation) account. In this case you can continue to make the usual types of contributions you already make.

Salary sacrifice contributions

Your employer’s contributions and any additional contributions you make from your pre-tax salary (concessional contributions).

More on Salary sacrifice contributions

Voluntary contributions

Voluntary contributions also known as non-concessional contributions are made from your after-tax salary by you or your employer.

It can include contributions to your super from your spouse.

More on voluntary contributions

Downsizer contributions

If you are selling your house, the government allows you to contribute some of the sale money into super. This can be a great way to boost your super savings, either before or during retirement.

More on downsizer contributions

If you are retired

If you are retired, although you cannot add more money to your current Retirement Income account, you do have a couple of options to make extra contributions

Contribute to your super account

If you still have a super account, you can make additional contributions.

If you no longer have one, then you can open a new super (accumulation) account to make your contributions.

The contributions can be regular or one-off.

The Government places limits on the amount that can be contributed to super.

More on contribution caps

Transfer your retirement balance back to super*

Transfer your retirement balance back to super, boost your balance and restart a new Retirement Income account.

1. Open a super account, such as First Super’s super account.

2. Make the extra contribution to the super account.

3. Transfer your existing Retirement Income account balance to your new super account.

4. Open a new Retirement Income account with the larger balance.

*Transfer your retirement balance back to super

Before deciding if this is the strategy for you, there are a few things you need to consider.

Doing this may impact your eligibility for the Age Pension and other Centrelink benefits.

Your new larger Retirement Income account balance will mean your minimum income withdrawal limits will change and you will need to withdraw more money each year.

Financial advice included in your membership

It’s worthwhile speaking with one of our financial planners about adding extra to your super. They can answer any questions you have and will let you know how it will impact your minimum income withdrawal limits and, or Age pension benefits.

There’s no additional cost to you, as its covered by your administration fee. Book a meeting with one of our financial planners online or call 1300 360 988.

Maximum age of adding contributions to super

You can make regular or one-off contributions to super up to 75 years of age, whether you are working or not. There are caps on the amounts you can contribute though.

28 days after you turn 75, a super fund can only accept Downsizer Contributions.


Our Member Services Team really enjoy talking with members about super and retirement. So, if you have any general questions about retirement and how to add more super to your retirement savings, we’re ready to help. Call 1300 360 988 or send us an email.