Coming Up Fri 10:00 AM  AEST
Coming Up Live in 
Filipino radio

Can I still catch up with my superannuation if I migrated to Australia in my thirties?

Uzmanlar superannuation’ın yaşlılığınız için son derece etkili bir tasarruf yöntemi olduğunu belirtiyor. Source: Getty Images

You moved to Australia in your thirties. Unlike others who have been working from a younger age, you've only started building on your super. Will you ever be able to catch up? Finance expert Michelle Baltazar gives advice on how you can.

'May PERAan' is SBS Filipino's new podcast series which features financial experts seeking to answer the most common questions about money and finances.


"40 is the new 20! You're looking at 20-30 years of working life; so yes, you can catch up," finance expert Michelle Baltazar shares, adding, "What's important is to have the right attitude and to upgrade your skills so you have more opportunity for career growth."


  • There are changes in super contributions beginning July 1 this year.
  • Be mindful of your super by checking your employer contributes and making sure your salary excludes it.
  • You can top up your super. 

What is superannuation?

According to Michelle, superannuation began in the 1900s as a political policy to help people retire. By 1991, the policy became law, with every employer obligated to contribute 3% of the equivalent of their staff's salary to their super.

"Here we are in 2021 and super is at 9.5% which is good because people have a larger amount in their retirement savings," she shares.

How will super change beginning July 1?

Beginning July 1, 9.5% will increase by 0.5%.

"Every year for the next five years, super will increase by 0.5% until contributions made by employers reach 12%.

"My hot tip is to make sure that if you're negotiating your salary, check if it includes or excludes super. No laws are breached if super is included in your salary, so u have to look at your contract closely."

How can I increase the amount in my super? 

"Aside from making sure your boss contributes to your super every month, you can do your own top ups. Make it a habit since unlike your bank savings, you can't withdraw from it until you're 65," she advises.

Michelle says that if you make the maximum contribution to super, your tax goes down to 7%.

"Make sure you have a plan. Super will help with your retirement. Stay positive!"


Disclaimer: This article is for general information only. For specific financial advice, you should consider seeking independent legal, financial, taxation or other advice to check how the information here relates to your unique circumstances.

Listen to SBS Filipino 10am-11am daily

Follow us on Facebook for more stories

Coming up next

Can I still catch up with my superannuation if I migrated to Australia in my thirties? 22/06/2021 10:56 ...
Changes in requirements for Temporary Graduate 485 visa come into effect 30/06/2022 09:05 ...
Australia's becoming more diverse: Census 2021 30/06/2022 07:53 ...
Changes for some visa subclasses come into effect 1 July 30/06/2022 06:32 ...
SBS News in Filipino, Thursday 30 June 30/06/2022 13:50 ...
What does Welcome to Country mean? 30/06/2022 07:09 ...
Governor-General Hurley to represent Australians at President-elect Marcos Jr's inauguration 29/06/2022 09:15 ...
SBS News in Filipino, Wednesday 29 June 29/06/2022 09:33 ...
New campaign tackles male incontinence 29/06/2022 11:20 ...
Pwede bang magpakasal sa Australia kahit kasal pa sa iba sa Pilipinas? 28/06/2022 09:51 ...
View More