Between family gatherings, beach trips, and lazy afternoons, most Australians aren\u2019t thinking about their super. But experts say the holidays are actually the perfect time to check in on your retirement savings \u2014 and it only takes an hour. A few small tweaks today could make a big difference later on.<\/p>\n
The Association of Superannuation Funds of Australia (ASFA<\/a>) is urging Australians to take a moment during the holidays to log in and review their superannuation accounts. It\u2019s not the most festive activity, but according to ASFA chief executive Mary Delahunty, it can be surprisingly rewarding.<\/p>\n The idea is simple: make sure your super is working for you \u2014 not against you. That means checking your balance, your investment settings, and your contact information to ensure everything is up to date. For many, it\u2019s the first step toward understanding where their money actually sits and how it\u2019s growing.<\/p>\n A Commonwealth Bank study earlier this year revealed just how detached many Australians are from their super<\/a>. Around 33% of people don\u2019t know their current balance, 11% have never checked it, and nearly one in three have no idea how their funds are invested. The numbers are even higher among women and Gen Z, showing that financial engagement still has a long way to go.<\/p>\n According to ASFA, a few quick adjustments could add tens of thousands to your retirement fund. For example, someone in their 30s who consolidates multiple super accounts into a single low-cost fund could save up to $20,000 in fees and charges over time, reports SBS News<\/a>.<\/p>\n Australians can easily check for duplicate accounts through myGov and roll them into one preferred fund. It takes about 20 minutes \u2014 less time than it takes to prep Christmas lunch \u2014 and could mean a noticeably larger nest egg decades from now.<\/p>\n ASFA also encourages people to review their investment options and insurance coverage. Younger members may prefer a higher-growth investment plan, while older Australians might lean toward more stable, lower-risk options. And for those who can afford it, making voluntary contributions before the $30,000 concessional cap resets each financial year can be a smart way to grow savings faster.<\/p>\n Despite the lack of engagement, most Australians are surprisingly positive about the system. ASFA\u2019s recent survey found that 79% of super members are happy with their fund\u2019s performance, and 90% believe super plays an essential role in ensuring financial stability during retirement.<\/p>\n Still, the picture isn\u2019t perfect. Australians from culturally and linguistically diverse backgrounds reported lower satisfaction rates \u2014 69% compared to 81% for English-speaking members \u2014 highlighting that communication and accessibility remain issues for many.<\/p>\n It\u2019s easy to overlook super when bills, rent, and daily expenses already take up so much space in people\u2019s minds. But the truth is, a little attention goes a long way. The holiday season, when work slows and people finally have time to breathe, offers a rare window to do something that your future self will thank you for.<\/p>\n You don\u2019t need a financial planner or hours of spreadsheets \u2014 just curiosity and a login. Check your balance, tidy up your accounts, and make sure your hard-earned money is actually growing. After all, an hour on your super today could buy you an extra holiday \u2014 or several \u2014 once you retire.<\/p>\n \u00a0<\/p>\n\n\nSmall Actions, Big Outcomes<\/h2>\n
How Australians Feel About Their Super<\/h2>\n
Why Now\u2019s the Time to Act<\/h2>\n