I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC

Super Facts and Tips

Unfunded (Untaxed Source) Defined Benefit Funds

The objective of this treatment is to make the employer pay nothing to the fund. If you are a member of such a fund, then it is strongly suggested that you verify with your fund, the treatment of whichever salary sacrifice contributions you make. Moreover, many unfunded superannuation schemes have funded components. If a superannuation fund has unfunded and funded portions, remember that only the unfunded portion won't be recognized for the contributions cap. For instance, productivity contributions made by employers in the PSS and CSS public sector funds, are deemed as concessional contributions counted towards the concessional cap.

Non-concessional (after-tax) contributions: Any non-concessional contributions paid to the unfunded defined benefit fund count towards the non-concessional contributions cap.

Hybrid Superannuation Fund

A hybrid superannuation fund is a fund that offers both defined benefit and accumulation interests. The contributions paid to an accumulation or defined contribution component of interest will be counted towards the pertinent contributions caps. And the contributions paid to the defined benefit interest will be counted, but depending on whether it's unfunded or funded:

Unfunded defined benefit - concessional contributions aren't attributable to such an account member (refer the previous discussion on unfunded defined benefit funds)

Funded defined benefits - concessional contributions, which include salary sacrifice amounts and productivity payments, count towards the before-tax (concessional) contributions cap (refer the previous discussion on funded defined benefit funds).

Non-concessional contributions that are made to a funded defined benefit scheme, or an unfunded defined benefit scheme, or an accumulation account, count towards a person's non-concessional cap.

CPSF (Constitutionally Protected Super Funds)

The concessional contributions made by an employer to a CPSF aren't counted towards a person's concessional contributions cap, though salary sacrificed contributions count towards an individual's concessional contributions cap.

After-tax (non-concessional) contributions that are made to a CPSF count towards the non-concessional contributions cap.

I hope this article has been helpful to you. Our knowledgebase provides a lot of information about superannuation. Visit us at www.australiansuperfinder.com.au

All information on this website is of a general nature only. We have not taken into account your financial situation, needs or objectives. You need to make up your own mind and ascertain yourself if it is right for you. We recommend you read the product disclosure statement(s) and the financial services guide before making any financial decision.

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