Catching up on super after a career break

Anyone spending some time out of the workforce will miss out on a chunk of super contributions and investment returns. Here’s a plan to catch up.

Summary: A worker on an average income with a 40-year career whose super returns 4 per cent after inflation fees and tax could expect to retire with a balance of $633,128 in today’s dollars. But taking a career break means a disproportionate hit to a worker’s superannuation. Assuming a worker has the capacity to make extra super contributions after returning to work, it is generally possible to catch up on the missed contributions.

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