How to contribute from age 65

If you are fully retired after you turn 65 years old, you can not make any non-concessional contributions.

You also can not make any non-concessional contribution if you member balance exceeding $1.6 million regardless you meet the work test or not.

There are still limited circumstances that you can contribute:

• downsizing contributions: if you have been owing your home for at least 10 years and you will be able to contribute up to $300,000 to your super. This amount will be exempt from the total superannuation balance.  Your spouse also can do the same if you hour is owned jointly. There is no work test for make this contribution.
• if your member balance is less that $300,000, you can make concessional, non-concessional or catch up contributions in the first year you can not meet the work test.

Any questions about how to contribute? Please feel free to contact us.