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You can see our most recent returns here. Verve is an ethical super fund with a commitment to building the retirement savings of our members. Ethical investment outperforms mainstream investment over all time periods, according to the Responsible Investment Association of Australasia (RIAA). Why? Because companies that look after people and the planet perform better over the long term. You can view the RIAA’s recent report here.

If you’re over 18 and earning more than $450 a month through employment (e.g. not contracted or self-employed), then typically you should be paid super by your employer. If you’re under 18 or on a contract, you may still be entitled to be paid super. You can find out more information about eligibility for super here.

It is possible to have multiple super fund accounts, so it is important to tell your employer about your Verve Super account if you want that employer’s contributions to be paid into your Verve account.

Some employers pay more than 10% of your salary into your super fund. However, if you’re eligible for super guarantee (SG) payments your employer must contribute 10% as the minimum. These payments will typically be shown on your payslip. Employers are required to pay your superannuation at least once a quarter, although they may transfer your contributions more frequently.

Generally, your employer must make regular compulsory contributions to your superannuation fund, known as Superannuation Guarantee (SG) contributions. Most people can choose the super fund for these contributions; it’s called having a “Choice of Fund”.

If you haven’t exercised Choice of Fund in the past, it’s possible that you might have had a new super account created for you each time you’ve joined a new employer, even if you already had an existing super account. To stop the creation of multiple super accounts, on 1 November 2021 the Government introduced a system whereby your existing super fund is ‘stapled’ to you when you change jobs. This means that when you start a new job, your employer will pay SG contributions to the same fund you had at your last job, unless you take action to make a change. Your employer will obtain information about your existing super fund from the ATO. If you have never had a super account before you will need to choose one, or your employer will create an account for you with their default fund. It’s important you take an interest in your super and help it grow into a healthy retirement nest egg. Further information on choice and stapling is available from www.ato.gov.au/super. A small number of Australians who are under Enterprise Agreements are not eligible to choose their super fund. To find out if this is your situation, speak to your employer. Employers may agree to pay superannuation into your Verve Super account even if they don’t generally allow choice.

Yes, superannuation is an investment. The money in your super account is invested on your behalf, so it is important to make sure the way it is invested aligns with your values and long-term goals.

Some things to consider are: Does your super fund invest in things that go against your values? Is your fund transparent about what they are investing in? Is the risk profile suitable for your needs? Is your super fund achieving competitive long-term returns? (Remember super is a long-term investment. The money in your account may be invested for 30 years or more.

Superannuation is a compulsory scheme, designed and regulated by the government to help you save for retirement. Unlike a regular savings account, your superannuation is only accessible when you reach your preservation age, which is usually the age at which you permanently retire from working or meet another specified condition of release. In most cases, it is compulsory for your employer to make contributions to your superannuation account on your behalf. You can also make personal contributions to your superannuation account, if you choose to boost your savings or if you are self-employed. This money is then invested on your behalf by your super fund.

One of the benefits of super is that it is designed to be a tax-effective way to save for your retirement, as contributions and investment earnings in your super fund are typically taxed at a lower rate than your normal earnings.

There are several reasons you might want to top up your super. To make additional contributions to your super account complete the personal contribution form in your online account and make the payment via direct transfer. Your personal payment details will be provided to you as you complete the online form.

An annual contribution cap applies to personal contributions, and if you breach this cap, you may be required to pay additional tax. For more on contribution caps view the Additional Information Booklet. If you have any questions please call 1300 799 482 or email hello@vervesuper.com.au.