If you spent your early 20s pivoting careers and chasing your passions, there's a way to catch up on super contributions that most people don't know about!
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If you spent your early 20s pivoting careers, chasing your passions and collecting passport stamps, your photo album probably looks a lot fuller than your super account.
Probably no regrets!
But at some point (maybe now), you’ll start to think a bit more about your future self and what it takes to quit your job for good.
For context, the Association of Superannuation Funds of Australia suggests around $630,000 by age 67 for a comfortable retirement as a single Aussie.
Yeah, we know… it’s a big number.
But before you spiral, here’s the good news: the super system has a way for you to catch up.
It’s called the carry-forward rule - and most people have no idea it exists!
Carry forward contributions let you use unused concessional (before-tax) contribution caps from previous years.
Quick reminder, the government tends to give Australians an incentive when they invest in super. Think of it like a reward to encourage more people to build up their retirement funds.
This means, each year you’re allowed to make up to $30,000 (as of 30 June 2026) worth of super contributions that are only taxed at 15%.
And with the carry forward rule, you could potentially contribute more than $30,000 and still get the tax benefits!
Over the past five years, Emma spent her time half travelling and half working so she didn’t fully use her concessional cap.
- She had $5,000 of super guaranteed contributions deposited into her super account each year
- As at 30 June 2026, that leaves $25,000 unused concessional contributions per year
- Over five years, that’s about $125,000 in unused cap
Fast forward to today - Emma is smashing goals at her job and her income has grown, and she’s also landed a decent bonus.
Instead of being limited to this year’s cap ($30,000 as of 30 June 2026), she may be able to contribute more by using the unused amounts from previous years.
Major win for her super!
Super doesn’t always grow in a straight line.
Some years you’re studying. Some years you’re travelling. Some years you’re just trying to afford rent.
Carry forward contributions recognise that and gives you flexibility to boost your super when life (and your income) allows it.
Like all super contributions, this money isn’t for immediate spending.
It’s locked away until you meet a condition of release, usually retirement age.
There are also eligibility rules and limits to consider, so it’s worth checking what applies to your situation.
When you’re making larger contributions, where that money gets invested starts to matter more.
That’s where a retail super fund like Netwealth Super Accelerator comes in. It gives you the flexibility to choose how your super is invested (whether that’s shares, ETFs, or tailored managed funds) while still enjoying the tax benefits of super.
So instead of your catch-up contribution just sitting in a default option, you can put it to work in a way that reflects what you actually care about.
Remember, you don’t need a perfect super history to build a strong balance. Because with the carry forward rule, it’s not about when you start, it’s about what you do when you’re ready.
Flux disclaimer:
The Information contained in this article is general information. It does not constitute legal, tax, credit or financial advice and is not tailored to an individual’s circumstances. You should consider your own personal circumstances and seek advice from your professional advisers before making any decisions that may impact your financial situation.
Netwealth disclaimer:
Netwealth Superannuation Services Pty Ltd issues Netwealth Super Accelerator. Netwealth Investments Limited issues the Netwealth Wealth Accelerator Multi-Asset Portfolio Service. Information contained within this post is of general nature only. Consider whether the products are appropriate for you and seek advice where required. To help you decide, read the PDS or IDPS Guide and TMD available at netwealth - Super & Investment Solutions - Investors & Wealth Professionals.
The Information contained in this article is general information. It does not constitute legal, tax, credit or financial advice and is not tailored to an individual’s circumstances. You should consider your own personal circumstances and seek advice from your professional advisers before making any decisions that may impact your financial situation
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