Employer superannuation is also called corporate super or workplace super, and refers to super funds usually only available to employees of a specific employer.
Employees have the choice of opting in to be an employer super fund member, or may choose another fund of their choice.
An employer superannuation fund may also allow access to employee family members, or may allow ex-employees to maintain their fund membership.
Benefits of employer super
Having a corporate super fund for your employees can help:
- Save time and money – on payroll and business administration.
- Attract and retain employees – by offering value-add packages with included benefits such as life insurance and free or low-cost superannuation and retirement advice.
- Increase superannuation savings – with greater flexibility in terms of investment options, thus allowing you to help your employees grow their super savings.
These benefits make employer superannuation an attractive option for businesses and companies seeking to add value to future employment opportunities.
Employer super is a cost-effective means of helping to find and retain quality staff, thus positively impacting the business as a whole.
Employer superannuation advice
To help you successfully manage your employer super fund, xLife advisers can help you in a variety of ways, including:
- Fund reviews
- Investment and asset allocation
- Growth strategy advice
- Insurance in super and claims management
- Ongoing advice and fund management
Employee financial & superannuation advice
One main factor that can help your employees get the most from your employer super fund is additional financial planning advice.
Having financial planning services available can help your employees better manage their finances and superannuation. Financial wealth and stability can offer your employees peace of mind and greater satisfaction.
Extra financial planning education and advice can encompass a number of topics including:
- General financial advice
- Superannuation goals
- Growth strategies
- Superannuation education
- Insurance both inside and outside of super
- Fund consolidation
- Transition to retirement
- Retirement planning
Discuss your employer superannuation needs
If you would like advice on an existing employer fund, or would like help to set one up, call an xLife superannuation adviser today.
We can discuss your needs and determine the best course of action which will help both your business and your employees.