30 - 40 years old – Getting your ducks in a row
Make sure you’re well covered
Is your house insured? Your car? What about you and your income? Even if you have life insurance somewhere else, it’s worth taking a look at your current Media Super insurance.
Most Media Super members are automatically provided with default insurance cover when they join. This may include:
• Death only
• Death and Total and Permanent Disablement (TPD)
• Income Protection (cover up to 85% of your salary plus your superannuation contributions)
Unless you chose not to have default cover, then there is a chance you may have some level of insurance through your Media Super account. It is worth taking a look and seeing whether the amount of cover you have is enough for your needs. To find out more visit the What cover do I have? page.
Why Media Super insurance may work better for you…
Insurance through Media Super is an easy and cost effective way to protect you and your family – here’s why:
• It can be cheaper than purchasing it yourself outside of super – our group buying power can mean it’s more cost-effective for you.
• Premiums are deducted from your super account, not your household budget.
• It’s flexible and you can change your level of cover at any time.
We're here to help
On the phone
Call our Super Helpline on 1800 640 886 and our friendly staff will talk you through any questions you have.
If you know you want to get your insurance sorted, working out exactly how much insurance you need can be complex.
Our Media Super Business Development Managers are here to help, with general advice at no extra cost to you.
Get it all together
Having all your super in the same place may save you lots of money. And it’s quick and easy to do.
If you've changed jobs, you may have more than one super fund. You may even have lost track of some accounts. Multiple super accounts can mean multiple fees, and many have default insurance arrangements with premiums that can drain your savings.
Finding your lost super and combining your super accounts can see you substantially better off in retirement*.
Know where your super is?
If you know where your other super is, you can combine them all online through your Media Super account or call our Super Helpline on 1800 640 886 to combine accounts over the phone with the help of one of our friendly staff. All you need is five minutes, your TFN and the name(s) of your other fund.
No time to search for lost super?
Just log in to your account and register your Tax File Number for a SuperMatch search and we'll do all the work for you.
Our Business Development Managers are also available to help you find and combine your super. They can assist you with locating your other super if you’re not sure where it is and can walk you through using your account to combine all of your super. Find a Business Development Manager in your area.
* Before making a decision to combine, you should consider any penalties such as exit fees, change to insurance cover or loss of benefits that may apply and if necessary consult a qualified Financial Advisor.
Know how much super you will really need
Retirement is still a long way off, but if you can work out now how much super you’re likely to need and make extra contributions along the way, you’re likely to have a far better lifestyle when you do finish work.
According to the ASFA Retirement Standard , to live a ‘comfortable’ retirement:
• Couples will need $58,922 a year
• Singles will need $42,893 a year
And, these figures assume that you will own your own home outright…
While this may all seem a little daunting, don’t be put off by the big numbers. Have a play with our Retirement Planner calculator. It will help you estimate how much you’re likely to have in your super and show you how long that will last if you start drawing it down as a Retirement Pension.
If it shows you’re on track, that’s fantastic; but if you think that there might be a shortfall, there are ways to start working towards your retirement goals.
Can you sacrifice a cup or two of coffee a week?
Two cups of coffee costs around $7.20 per week, or $374.40 per year. Why not use this amount as a starting point for making extra contributions?
Try our Contributions Calculator to see how much you can save by adding the money from your sacrificed cups of coffee to your super.
There are multiple ways you can put extra money in your super, two easy options are:
Salary sacrifice – through an agreement with your employer to pay some of your pre-tax salary into your super account
Voluntary contributions – this is where you make contributions from your take-home pay.
Each option has different advantages, so call our Super Helpline on 1800 640 886 and our friendly staff will talk you through the options.
Get some advice
If you’re not sure where to start, or want some sound advice, call our Super Helpline on 1800 640 886 and one of our friendly staff# can give you general advice that will help you make the most of your super.
# Helpline consultants providing general or limited advice are representatives of Mercer Outsourcing Australia Pty Ltd (MOAPL) ABN 83 068 908 912, AFS Licence 411980.
Get to know your investment options
You don’t have to be an investment guru to make a smart investment choice. Media Super gives you a range of options that are designed to suit you, including the ability to directly choose a range of shares, exchange-traded funds and term deposits.
If you haven’t made an investment choice, your super will be invested in our Balanced (MySuper) option, which is Media Super’s default option.
You can choose your own and take control
Media Super’s pre-mixed and single asset class investment options provide you with the choice you need to create the best mix of investments to build a portfolio you’re comfortable with.
Our Direct Investment option allows you to take even greater control and manage how your super is invested, offering a range of ASX300 shares, term deposits and exchange-traded funds.
Risk and return
Choosing how your super is invested really comes down to how much risk you’re willing to take. Everyone has a different tolerance to risk, and you need to be comfortable with the level of risk associated with the investment option or mix of investment options that you choose. Generally speaking, investment managers suggest that if you have a longer investment time frame (10 or more years) you may be able to take on more risk to look at achieving a greater return long-term.
To build your understanding of how risk and return work and apply to you, take a few minutes to complete our Risk Profile Questionnaire.
Then have a look at our Investment Guide to see what options are available and that best suits your needs.
Get some advice
If you’re not sure where to start, or want some advice on how to match your goals to your risk profile, get in touch with one of our Media Super Financial Planners*.
*Media Super has engaged Industry Fund Services (IFS) ABN 54 007 016 195 AFSL No 232514 to facilitate the provision of financial advice to members of Media Super. Advice is provided by one of our Financial Planners who are Representatives of IFS. Fees may apply. Further information about the cost of advice is set out in the relevant Financial Services Guide, a copy of which can be obtained by calling IFS on 1300 138 848. IFS is responsible for any personal advice given to you by its Representatives.
Stay in touch
The easiest way to stay up to date is by making sure we have all your correct contact details. Plus, you can sign up for your monthly e-newsletter, Imprint, and follow Media Super on social media for even more news and tips.
It’s easy and only takes a couple of minutes!
Just log in to your Media Super account. All you need is your member number (this will be on your latest statement) and your PIN.
Forgotten your PIN? Don't worry, you can reset it online or request a new one from our Super Helpline on 1800 640 886.
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On the phone
If you’ve forgotten your log in details, can’t find your member number, or just prefer to do things over the phone, call our Super Helpline on 1800 640 886.
Follow us online
At Media Super we go out of our way to help our members thrive in all aspects of their life, now and in the future. By following us online you’ll be able to keep up with the key things that are happening in your industry, learn about your fellow members, see what Media Super is doing to help your industry thrive and get useful tips to improve your financial wellbeing.