Helping your employees build a better future Childcare Super
A big issue facing workers today is financial pressure. The daily struggle to make ends meet means once the mortgage or rent, groceries and bills are paid, there’s often not much left over for anything else, let alone extra contributions to super. The last year has been particularly tough for everyone. Changes in the way we have been living and working as a result of the uncertainty caused by COVID-19 has placed pressure on businesses and raised a number of questions for employees. It’s only natural that you want to help your employees through this difficult time, but there’s a fine line between providing information and giving financial advice. The decisions people make about their superannuation can have long-term consequences, so you need to be aware of what you can and can’t say so you don’t unintentionally overstep the mark and find yourself in hot water for giving advice. A little knowledge can go a long way Making your employees aware of ways they can boost their super may alleviate some of the stress they are feeling in relation to their financial future. Employees who feel supported at work are happier, more motivated and more productive, which is good news for your business. It’s also a good feeling knowing you’ve given your employees access to the tools they need to build financial security in retirement. If your employees ask you specific questions about their super, you can provide them with factual information like the Product Disclosure Statement (PDS) of your default super fund. Just don’t provide any explanation of the material inside or make any recommendations that might influence them as this may be considered advice. Generally, only people who hold an Australian Financial Services Licence (AFSL) are allowed to give advice.
Start by getting the mix right! How your employees invest their super savings can make a big difference to their balance and quality of life in retirement. Choosing the right investment option depends on how long they have to invest, what investment returns they need to reach their savings goals and how comfortable they are with investment risk. It can be pretty overwhelming, so we’ve simplified matters by giving members two options: We can choose for them or they can choose for themselves.
The MySuper Lifecycle Investment Strategy invests member’s savings in a portfolio designed to suit their age and stage of life. There’s no need to make a decision or choose an investment mix, we choose it for them!
via SUPERSUPER may also be eligible for ‘free money’ from the Government in the form of a co-contribution of up to $500 per year. Small regular amounts added to super today can add up to thousands of extra dollars over time. When it comes to super, a little bit extra can go a long way. SUPERSUPER is available exclusively to Child Care Super members. For more information, visit childcaresuper.com. au/supersuper Child Care Super Pty Ltd. ABN 84 068 826 728. AFSL 233815. RSE License Number L0000611. Trustee for the Guild Retirement Fund ABN 22 599 554 834 (which includes Child Care Super). Before acting on any information, you should consider whether Child Care Super is right for you by reading the Product Disclosure Statement at childcaresuper.com.au.
The MyMix Solution is designed for anyone who wants to have more say in how their money is invested. It allows members to create their own investment portfolio using any combination of the eight options available. Again, be careful answering any questions your employees may have about their investment options. For further information, refer them to the Child Care Super Investment Guide.
SUPERSUPER is our secret weapon One way your employees can boost their super is via SUPERSUPER, our award-winning shop-and-save rewards program. With SUPERSUPER, when your employees shop, a percentage of every dollar spent with participating retailers will be paid directly into their super. They can simply shop with their favourite brands and boost their super savings at the same time. Employees earning less than $56,112 p.a. who make after-tax contributions
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EARLY EDITION > WINTER 2022
EARLY EDITION > WINTER 2022
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