As the contribution choices you make ultimately affect the size of your final benefit, it’s worth exploring what a change to your contribution rate will mean for you.

How much should I contribute?

Because everyone’s circumstances, goals and retirement plans are different, there is no set answer. You can change your contribution rate at any time, but before you do you should consider:

• how long you’ve been a member of the CSS
• how much you’ve contributed previously
• your estimated final CSS benefit, given your current contribution rate
• the possible tax implications of exceeding your non-concessional contributions cap
• how much money you’ll want or need for your life after work.

  Tools to help you explore:

• Work through the Exploring Checklist to make sure you cover the basics.
• Look though the CSS Explore booklet that was mailed to you
• Have a look at the ASFA Retirement Living Standard to see what you may need to lead a comfortable lifestyle in retirement.
• Use the i-Estimator to see what your benefit is likely to be based on your current rate of contribution.

If you’re not sure what to do about your expanded options, get professional advice from a financial advisor.

Take the next step

– explore the case studies