Retirement is a period most people eagerly anticipate. It’s that wonderful stage of life when you can finally unwind and spend your time as you please. You can even spend retirement focusing on the businesses you’ve been planning and have put off for so long.

Your superannuation plays a key role in ensuring you have the resources you need to help maintain your standard of living after leaving the workforce. But in order to have peace of mind later as a retiree, the proper management and investment of your super fund are crucial.

If you’re looking for tips to grow your superannuation, below are three of the best ways to maximise it for a secure future.

1. Review your fund options.

Choosing the right fund to invest in is essential to fulfil your long-term retirement objectives and optimise superannuation growth.

Today, the Australian government provides an online tool called YourSuper that you can access through the Australian Taxation Office’s online services. This tool can assist you in looking around for better funds and comparing alternative super funds. Periodically evaluate your chosen fund to make sure it’ll meet your projected retirement needs.

2. Consider salary sacrificing.

Salary sacrificing allows you to decide how much of your pay you want to put into your super account. With this method, the funds you choose to transfer into your super fund are deducted from your income before you get taxed. So, rather than being taxed at the marginal tax rate, which could be as high as 45 per cent, the money will be taxed at the 15 per cent concessional super rate.

This way, you’ll effectively lower your take-home pay, reducing your taxable income as a result. If you’re still young, contributing an extra $10 to $20 per week to your super can help you retire with thousands more dollars to live on.

3. Make a lump sum contribution.

Making a lump sum payment to your super and claiming a tax deduction is another alternative to consider. All it usually takes is calling your super fund and setting up a BPay or bank transfer.

Let your super fund know that you plan to claim a deduction. You’ll need to fill out a form for most funds, or you can get a general form from the ATO. Your super fund will then deduct 15 per cent of that sum for taxes, allowing you to claim a tax deduction on your tax return and receive a larger refund.

Aside from these three strategies, there are other things you can do to boost your super savings.

Talk to your super or financial advisor, and start increasing your super savings today!

If this article has inspired you to think about your own unique situation and, more importantly, what you and your family are going through right now, please contact your advice professional.

(Feedsy Exclusive)