Peter Murphy, CEO of Christian Super, today encouraged Christians to make sure they took up the government’s co-contribution offer to add ‘free money’ to their superannuation fund by 30 June 2011 .
“The government will match personal super contributions with a co-contribution of up to $1 for every $1 you contribute, up to a maximum of $1,000” said Peter. “The offer applies to all superannuation funds and is subject to a number of conditions, but at Christian Super we believe that Christians have a heart to continue serving God in their retirement years,” he said. “Having the extra tax free dollars from the government when you retire, means you can use that money for ministry opportunities that arise in this new stage of life,” Peter added.
The super co-contribution initiative is designed to assist low to middle income earners, including those who are self-employed, to save for their retirement. The table below shows what the government’s co-contribution levels would be across a range of incomes, if you are eligible for a co-contribution. The maximum government co-contribution amount decreases by 3.33 cents for every $1 your income is above $31,920 and incomes over $61,920 are not eligible.
“Christian Super encourages our members to invest time in planning how they might spend their retirement and to see it as an opportunity to serve God. Taking advantage of the government’s co-contribution scheme can equip you to do more for the Kingdom,” said Peter.
For more information, visit www.christiansuper.com.au
Business
Christian Super CEO encourages Christians to get ‘free money’ for retirement ministry
Christian Super
Wednesday, 25 May 2011, 10:53 (EST)
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