Making contributions

Contributions tax: Your employer's contributions are taxed at 15% and are fully tax deductible for your employer.

You can make personal contributions into your super as either before tax (salary sacrifice arranged with your employer) or after tax contributions.

You can also make lump sum contributions subject to contribution limits and rules.

If you're self-employed you could be eligible to claim a tax deduction on your super contributions. To claim a personal tax deduction, you'll need to advise Energy Super by completing and returning a Deduction for personal super contribution Form and indicating the amount you intend to claim.

Making contributions for your spouse helps build a superannuation benefit for your spouse. You may also be eligible to claim a tax rebate.

Contributions must come from your after tax salary and you'll need to put in at least $100 to start the account.

If your spouse's income is less than $10,800 p.a. you can claim a tax offset of 18% of the super contributions (up to a maximum of $3,000 p.a.) made on behalf of your spouse. This gives you a maximum tax offset of $540 a year. The tax offset phases out for incomes between $10,800 p.a. and $13,800 p.a.

Superannuation splitting lets you split your before tax superannuation contributions (employer sponsored or salary sacrifice) with your spouse. It is especially useful for couples when one spouse is not working, earns significantly less than the other, has very high levels of superannuation compared to the other spouse, or is likely to have high levels of super in the future.

Contribution splitting is attractive if you're interested in a more tax-effective way of saving for retirement.

Contribution splitting gives eligible couples the chance to:

• Accumulate superannuation benefits more evenly over time
• Maximise combined tax free thresholds
• Take advantage of group insurance rates available for Energy Super members.
• To learn more about contribution splitting and to find out if you're eligible to make them click here.

The Federal Government makes superannuation contributions (co-contributions) for people who make their own after tax contributions and are eligible for the co-contribution (where their income is below a prescribed threshold). To find out if you're eligible or for details please refer to our Government Co-contribution Fact sheet.

How do I rollover my super into Energy Super? If you have more than one super account, transferring the funds into your Energy Super account is easy by using the following:

• The online Energy Super Rollover Tool
• Transfer your Super Form

The advantages are:

• You'll save time and money because you'll only pay one set of low administration fees
• Having just one fund means less financial records and less chance of losing track of your super
• Having just one fund also gives you more control over your investment strategy.

How can I make a payment?

Energy Super offers the following flexible payment options:

• BPAY® ─ Transfer specified amounts direct from your bank account to your Energy Super account. Contact the Energy Super contact centre on 1300 4 ENERGY (1300 436 374) for your personal reference number.
• Payroll deduction ─ You will need to speak to your employer to ask if you are able to make personal contributions to your super, and to arrange deductions from your pay if you are able to do so. These contributions can be after-tax (i.e. member voluntary) or before tax (i.e. salary sacrifice). More information on salary sacrifice is available in the Energy Super Member Guide.
  
• Cheque ─ You can make lump sum contributions via cheque. Simply make cheques payable to'Energy Super' and enclose a completed Lump Sum Contribution Payment Form.
• Electronic Funds Transfer (EFT) ─ You can also make contributions via EFT. Just contact us for EFT details and complete a Lump Sum Contribution Payment Form.
• Direct Debit ─ An easy way to make regular voluntary contributions is via Direct Debit. Just complete a Direct Debit Request Form to nominate the amount you would like to contribute.  Contributions will then be deducted automatically from your bank account on a monthly basis.

There are limits to the total value of contributions you can make or receive without being charged extra tax.

If you're under 65 any time in a financial year, you can contribute up to $450,000 in the financial year by bringing up to two future years contribution entitlements forward. Conditions apply.

For further information about contribution types and limits please read our Contributions Fact sheet.

** Money that is considered to have been paid into your super account by your employer, irrespective of the actual amount paid.