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Retiring? Super Contributions Have Limits | Adelaide News
Description
Want to boost your retirement super? Think again — the ATO has strict rules, especially around your Transfer Balance Cap. If you’ve never started a pension, you’re capped at $2.1 million, but if you’ve already dipped into retirement phase, your personal cap is calculated based on past usage — and future indexation increases only apply to your unused portion. Don’t guess — check MyGov or consult your fund or advisor. And if you’re using super to pay off a mortgage? It’s often the most direct route — though alternatives like the Home Equity Access Scheme might help supplement income without gutting your super.
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