Super Starter kit

New to super? Start here.  

Superannuation – or super – is a long-term savings and investment account that helps you build money for your retirement. 

If you’ve ever worked in Australia, you likely already have a super account (maybe even more than one) opened by you or your employer. 

Every time you’re paid, your employer must put at least 12% of your earnings into your super. 

That money doesn’t just sit there – your super fund invests it, helping it grow over time so that when you retire, it becomes income you can live on. 

Before we jump in, let’s unpack some common terms and numbers you’ll see along the way.  

Key Terms 

• Super Guarantee (SG): The minimum your employer must contribute to your super — currently 12% of your pay. 

• Contributions: Any money added to your account — from you, your employer, or the government. There are rules and limits, so check the numbers below. 

• Preservation Age: The age you can usually start accessing your super – generally from 60, with some conditions or full access from 65 (FYI: the government Age Pension kicks in from age 67, if you’re eligible.) 

• Investment Performance: How well your super grows over time, usually shown as a percentage return per year. 

Super is designed to help Australians save for retirement. But it’s not just savings sitting in a bank. Your money is invested in assets like shares, property and bonds that help it grow over time. Having superannuation makes you an investor, and being an investor gives you a voice in how companies behave, and in shaping entire economies. That’s why ethical superannuation funds like Verve exist. With Verve, you're investing for a better world.  

Your super is also taxed at a lower rate than most people's regular income, so more of your money is working harder for you. 

If you are employed by an organisation or business, at least 12% of your earnings will be paid into your super. This can be paid as part of your total package, or as ‘base salary plus super’. If you work at an hourly rate, check that your super is paid on top of that rate and not included in it – because knowing what you earn contributes to your financial wellness.  

This is called the accumulation phase or growth phase. 

If you’re self-employed, it's up to you to make your own contributions – they're not made automatically.  

Why this matters: 

The goal of your super is to grow your savings faster than inflation, so they outpace the rising cost of living. Inflation is the rise in the prices of everything over time. By growing faster than inflation, your super helps your money hold its value and protects your future lifestyle. 

You can generally start accessing your super from age 60 (some conditions apply), with full access from 65.  

These are to main ways to use your super:  

• A pension account – which pays you regularly, like a salary. 

• A lump sum withdrawal 

You don't have to decide between one or the other. Once you become eligible to access super, you have flexibility. 

In both phases (growth and retirement), your money is invested in a range of assets, in markets that rise and fall – so it's normal for your balance to go up and down over time.  

The key is to stay invested for the long term, so your money has time to benefit from compound growth — where your earnings are reinvested and keep growing. 

Verve’s investment options let you choose how your money is invested. All our investment options avoid industries believed to be incompatible with a sustainable future, such as the fossil fuel industry.. Verve’s investment approach seeks out investments that create positive environmental and social impacts. You can choose to mix and match between options. 

You choose how much risk you’re comfortable with, and we’ll help you handle the rest. 

Super isn’t just a 'later' problem. 

Engaging with your super now means more choice, confidence and control over your future — including when you retire and how you live. 

Super builds through: 

• Contributions (from you and your employer) 

• Investment earnings that compound over decades 

• Favourable tax treatment 

• If eligible, government contributions 

For many Australians, super becomes one of their biggest assets. Engaging early can help reduce your reliance on the age pension — and increase your financial independence later in life. 

Your super can shape where you live, how you spend your time, and the life you create beyond work. 

There’s over $16 billion in lost super sitting in over 7 million accounts held by the ATO. Some of it could be yours. 

Use the ATO’s tool to find and consolidate your super.