Ask Paul: Why can't I put all my wages into super?
Dear Paul,
Is it possible to save all of my wages into my super and request my super provider pay me a lower amount each month from the age of 60 to my retirement age at 67?
The purpose is to provide better super when I do retire by investing more into my account. - Connie
That is a ripper idea, Connie, but in regard to employer contributions, the maximum any of us can put into super from our salary is $30,000 (2024-25).
Super is pretty complicated, so you would need to check your personal situation with your super fund or adviser, but depending on how much you have in your account, you could add your own money, after tax is taken out, up to $120,000 a year
Again, it is a bit complex, so you should check your personal situation.
But, in general, anyone younger than 65 will need to take out 4% a year of their super.
This increases steadily until age 80, when this becomes 7%.
Get stories like this in our newsletters.