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Topping up is easy.
BPAY
FirstChoice Personal Super (your account number starts with 011)
Personal contribution
Spouse contribution
485441
485458
FirstChoice Employer Super (your account number starts with 065)
Personal contribution
Spouse contribution
414375
414383
Reference number:
Enter your account number as your reference number preceded with the digit 1.
Eg. if your account number is 0110 1234 5678 then enter 1011012345678
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Why should I top up my super?
Meet Gemma, 25
Gemma earns $1,500 per week and has around $30 left after all her expenses. She is thinking about making salary sacrifice contributions to her super to maximise her super when she eventually retires.
Gemma can ask her employer to make salary sacrifice contributions of around $44 per week (only $30 of her take home pay per week as these contributions are made before income tax). After a 15% contributions tax, there will be around $38 will be added to her super each week.
If Gemma continues this strategy for 40 years until she retires at 65, she could have an $151,000 more in super then if she didn’t make any extra contributions. Thanks to the power of concessional taxation and compound returns, this is far more than the $62,000 in net income she’s given up during this time.
Meet Thomas, 39
Thomas earns a $90,000 annual salary and has $5,000 to invest. He's considering whether to invest it inside or outside super.
If Thomas invests the $5,000 outside super, his investment would grow to $9,400 (after tax) by the time he retires at age 65.
Instead, Thomas decides to make a personal tax-deductible contribution of around $7,400 to super. This only impacts his after tax money by $5,000 due to the tax deduction. As Thomas' investment is in superannuation, it is generally inaccessible until retirement. However, thanks to the power of concessional taxation and compound returns, he could have an extra $13,400 in super when he retires.
Meet Anna, 50
Anna earns $100,000 per year and has just received an inheritance of $300,000. She wants to use it to maximise her super balance (currently $600,000) for when she retires at age 65.
Firstly, Anna makes a tax-deductible contribution of $18,500 which uses her remaining concessional contributions cap after allowing for her employer’s compulsory contributions. This only reduces her after tax inheritance money by $12,500 (taking into account the tax deduction).
She then makes an after tax contribution of $287,500 using the ‘bring-forward’ rule.
By making these contributions, Anna’s super balance at age 65 would be $466,182 higher than if no additional contributions were made. This is substantially more than if Anna had invested her inheritance outside super ($422,000 at age 65).
Meet Chris, 55
Chris is aged 55 earning $80,000 pa salary with a current super balance of $300,000. He has around $80 of spare net income and wants to focus on maximising his super in the lead up to retirement at age 67.
Chris asks his employer to make salary sacrifice contributions of around $118 per fortnight (this will only reduce his take home pay by $80 per fortnight as these contributions are made before income tax is applied). After contributions tax of 15%, there will be around $100 added to his super investment each fortnight.
If Chris keeps this strategy up for 12 years until his retirement at age 67, he could have around $37,300 more in super than if he didn’t make any extra contributions. Due to the power of concessional taxation and compound returns, this is substantially more than the net income he’s given up during this time.
Meet Paul, 60
Paul is aged 60 earning $100,000 pa salary, with a current super balance of $400,000. He has around $80 pf of spare net income and wants to focus on maximising his super in the lead up to his retirement at age 65.
Paul asks his employer to make salary sacrifice contributions of around $118 per fortnight (this will only reduce his take home pay by $80 per fortnight as these contributions are made before income tax is applied). After contributions tax of 15%, there will be around $100 added to his super investment each fortnight.
If Paul keeps this strategy up for 5 years until his retirement at age 65, he could have around $14,800 more in super than if he didn’t make any extra contributions. Due to the power of concessional taxation and compound returns, this is substantially more than the net income he’s given up during this time.
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Assumptions for Gemma's case study: Marginal tax rate is 32% including Medicare levy. Superannuation earns 3.5% pa income (taxed at 15%) and 3.0% pa capital gain (taxed at 10%). Contributions indexed by 2.5% pa and assumed to be made mid-way through each year. Amounts shown are calculated in today’s dollars discounted for inflation of 2.5% pa.
Assumptions for Thomas' case study: Marginal tax rate is 32% including Medicare levy. Superannuation earns 3.5% pa income (taxed at 15%) and 3.0% pa capital gain (taxed at 10%). Non-super investment earns 3.5% pa income (taxed at marginal rate) and 3.0% pa capital gain (50% of gain taxed at marginal rate in final year when investments sold). Contribution / investment is assumed to be made mid-way through the first year. Amounts shown are calculated in today’s dollars discounted for inflation of 2.5% pa.
Assumptions for Anna's case study: Marginal tax rate is 32% including Medicare levy. Superannuation earns 3.5% pa income (taxed at 15%) and 3.0% pa capital gain (taxed at 10%). Non-super investment earns 3.5% pa income (taxed at marginal rate) and 3.0% pa capital gain (50% of gain taxed at marginal rate in final year when investments sold). Contributions / investments assumed to be made mid-way through the first year. Amounts shown are calculated in today’s dollars discounted for inflation of 2.5% pa.
Assumptions for Chris and Paul's case study: Results in today's dollars. Projection done using ASIC Moneysmart Superannuation Calculator and using all default assumptions. Marginal tax rate is 32% including Medicare levy.
Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 is the trustee of the Colonial First State FirstChoice Superannuation Trust ABN 26 458 298 557 and issuer of FirstChoice range of super and pension products.
This document may include general advice but does not consider your individual objectives, financial situation, needs or tax circumstances. You can find the Target Market Determinations (TMD) for our financial products at www.cfs.com.au/tmd, which include a description of who a financial product might suit. You should read the relevant Product Disclosure Statement (PDS) and Financial Services Guide (FSG) carefully, assess whether the information is appropriate for you, and consider talking to a financial adviser before making an investment decision. You can get the PDS and FSG at www.cfs.com.au or by calling us on 13 13 36. This information is based on current requirements and laws as at the date of publication. Published as at 17 February 2025.
Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 (referred to as Colonial First State, CFS, ‘we’, ‘us’ or ‘our’) is the Trustee of Essential Super ABN 56 601 925 435 and the issuer of interests in Essential Super. Essential Super is distributed by the Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank). The CFS Group consists of Superannuation and Investments HoldCo Pty Limited ABN 64 644 660 882 (HoldCo) and its subsidiaries, which includes CFS. The Bank holds an interest in the CFS Group through its significant minority interest in HoldCo.
This information is issued by CFS and may include general financial product advice but does not consider your individual objectives, financial situation, needs or tax circumstances, and so you should consider the appropriateness of the advice having regard to your circumstances before acting on it. The Target Market Determination (TMD) for Essential Super can be found at cfs.com.au/tmd and includes a description of who the financial product is appropriate for and any conditions on how the product can be distributed to customers. You should read the Product Disclosure Statement (PDS) and the Reference Guides for Essential Super carefully and consider whether the information is appropriate for you before making any decision regarding this product. Download the PDS and Reference Guides at commbank.com.au/essentialsuper-documents or call us on 13 4074 for a copy. None of the Bank, HoldCo, CFS, nor any of their respective subsidiaries guarantee the performance of Essential Super or the repayment of capital by Essential Super. An investment in this product is subject to risk, loss of income and capital invested. An investment in Essential Super is via a superannuation trust and is therefore not an investment in, deposit with or other liability of the Bank or its subsidiaries.
The insurance provider is AIA Australia Limited ABN 79 004 837 861, AFSL 230043 (AIA Australia). AIA Australia is not part of the Commonwealth Bank Group or CFS. Insurance cover is provided to eligible members of Essential Super under policies issued to CFS.