Simple super hack could boost your retirement savings by $70,000

For many younger Australians, retirement can feel a lifetime away. But experts say starting early with a simple savings strategy could boost your superannuation by as much as $70,000.

Brisbane teacher Aaron Klarwein is already counting down to retirement.

Along with regular super contributions from his employer, he’s also been putting extra away.

“I make a contribution each fortnight into my super, $50 each time,” Klarwein said.

For a 30-year-old earning $105,000 a year, salary sacrificing just 1 per cent of their annual income into super — about $20 a week — could mean more than $70,000 extra by retirement.

“The magic of superannuation really relies on compounding interest,” Association of Super Funds of Australia CEO Mary Delahunty said.

Superannuation provider MLC says additional contributions per member jumped 79 per cent between May and August, compared with the same period in 2024.

The budget, tax changes and end of financial year planning might have prompted people to reassess their finances.

“People [are] really taking the time to understand where they’re at, where they want to be and building a plan to get there,” MLC chief customer officer Howie said.

Funds offer a range of options to build your nest egg, from high growth strategies for younger workers, while those closer to retirement might choose a more conservative approach.

“These kind of choices are best done with the help of a professional, but you can make them quite easily when you contact your super fund,” Delahunty said.