Use super to support your spouse
14 August 2023
By contributing, nominating and insuring, you can benefit your spouse’s financial future.
Your career and life journey will be different from your spouse, which means you’ll end up with different retirement balances. Often, that difference can be significant.
“This is due to such factors as career breaks, different levels of remuneration and if one of you has been able to make extra contributions – it all has a big impact over time,” says smartMonday senior smartCoach Johnny Ng.
But there’s a number of ways superannuation can be used to address imbalances between you and your spouse, so they benefit as much as possible from your super.
KEY POINTS
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By contributing to your spouse's super you may be eligible for a tax offset. You can also split regular super contributions with them.
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Nominate your spouse as your binding beneficiary so it's clear what happens to your super if you die.
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Insurance provides further financial security for your spouse and family.