Life Events
Change is part of life. Whether you're starting a family, buying a home or navigating a breakup, your super becomes part of the equation. Here's how to make empowered choices.
Breakups, breakdowns and new beginnings – your super can be affected by it all.
Taking time out for parental leave? That often means hitting pause on your super contributions. Overall, women's finances are hit harder by parenthood - but it doesn’t have to mean falling behind. Verve's here to help you navigate family finances - starting with your baby budget.
If one of you is out of the workforce, you can split one partner's super contributions. This is a powerful way to support equity - and no, you don't have to be married. Contribution splitting helps level up the super gap and is pretty straightforward to set up, with both parties' consent. There's a few rules to know, though.
Super during separation
During divorce or separation, super is considered part of your assets and may be split in a property settlement. How it's split depends on many variables, including the relationship length, any children, and the value of other assets. You also have a right to know each other's super balances. This stuff can feel heavy, so use the support available.
Managing money & conflict in relationships
Money is one of the main drivers of relationship stress, and the leading cause of relationship breakdown. So having healthy conversations about money can get you and your partner on the same page, working as a team and focused on the future. Try these communication tips to get started.
How super interacts with the property ladder.
Learn how the First Home Super Saver Scheme (FHSSS) can help you save your deposit faster. Yes, really.
Super is a tax-efficient savings vehicle and typically outperforms savings accounts, so your deposit savings grow faster. The most important rule to know is that you can only use money you contribute yourself, not what your employer puts in. There are a few other T&Cs too - and we're here to help you save for your first home.
If you're 55+ and selling your home, a Downsizer Contribution could help you boost your super and make your next chapter stronger. This facility lets you put up to $300k of equity from the sale into your super - or $600k if you're a couple - and it doesn't count towards your contributions cap. It's a great way for homeowners to turbocharge their retirement - but there's a few things you need to be aware of.
When super can be a lifesaver, knowledge is power
When money stress hits hard, it can feel like there’s no way out. If you’re doing it tough, there are ways to access some of your super early.
We'll walk you through how it works, what you’ll need and what to consider – so you can make empowered decisions when you need it most.
Super isn't covered by your will. Here's how to give your loved ones one less thing to worry about.
Your super may be off-limits for most of your working life, but it belongs to you. That means it's part of your estate - your net worth - that would be allocated to someone else if the worst should happen to you. But crucially, it's NOT covered by your will. Instead, it relies on making a beneficiary nomination in your super.
As life changes, it's important to keep your nomination up to date.
Understand how nominating beneficiaries works, and why it’s one of the most important super decisions you’ll make.
Tax on death benefits
Okay, this probably isn't the most beguiling topic on the menu. But if you are worried about the tax implications for whoever receives your super, here's what you need to know. The tax treatment depends on two things: who receives the payment, and how the super was taxed when you contributed it.
Do you need a will?
Shockingly, at least half of adults in Australia don't have a will. But everyone needs one. Even if you're not a millionaire. Without a will, you get no say in who gets what if the worst happens. Although wills don't cover your super, they do cover everything from your property, children and savings to your intellectual property and digital assets. The good news is, you no longer have to use expensive lawyers to get yours sorted.
Head to our next module Career for resources to navigate career changes and more.
