For Australians approaching age 75, timing becomes especially important when planning super contributions. While many voluntary contributions remain available later in life, strict age limits still apply. In most cases, individuals can only make voluntary contributions such as salary sacrifice, personal after-tax contributions, and personal deductible contributions until 28 days after the end of the month in which they turn 75.
This creates a small but valuable planning window.
For those nearing this age milestone, strategies such as:
- Non-concessional contributions
- Bring-forward NCC rules
- Spouse contribution strategies
may allow larger final contributions before the rules become more restrictive.
For example, a person turning 75 late in the financial year may still qualify to trigger the bring-forward rules, potentially allowing significant contributions before losing access. However, once the upper age limit passes, most voluntary contribution options end, apart from downsizer contributions and compulsory employer payments.
Important Consideration
If you are aged 67 or over and plan to claim personal deductible contributions, the work test may still apply.
Planning Opportunity
The months before turning 75 may provide one of the final chances to significantly increase retirement savings through super.
Speak With Our Team
Approaching age 75 can create important superannuation planning opportunities, especially where contribution caps, bring-forward rules, and eligibility requirements apply.
If you are nearing this age milestone, contact our team to discuss your options and ensure any planned contributions are completed before the relevant deadlines apply.
Disclaimer and Warning
The information above is of a general nature only. It should not be used as a source to make financial decisions. It’s also important to note that the legislation and figures related to this topic tend to change regularly and therefore the information above may not reflect the current status. We recommend that if you are looking for advice on this matter, you should contact us.