Green plant growing from dirt

Grow your super

Planning for retirement in advance can make all the difference to your income and lifestyle when you do decide to retire.

Using strategies and small changes now to grow your super could be the difference in a basic income in retirement or an income that allows you to do the things you always dreamed about doing.

Here are a few things to consider when you’re thinking about how to grow your super:

1. Check your balance regularly

Log-in and check your super balance regularly so you can ensure you’re on track and you can mitigate any gaps early.

2. Consolidate

If you’ve had numerous jobs you may have multiple super accounts. Consider consolidating all of your super into one account which helps to save on fees and insurance premiums. You can use this rollover form to send to your previous super account, they will then send your existing super funds to the Alcoa Plan.

3. Making Pre-tax contributions

Salary Sacrificing is a great way to grow your super account. However, it is important to be aware of your concessional contribution cap of $27,500, particularly as Alcoa reimburse your insurance costs (which counts towards your concessional contributions). It's worth checking the concessional contributions you have made each financial year by logging into your account online. It’s very straightforward to increase the amount of pre-tax contributions; complete the Application to change contributions form and send through to HR. 

4. Making Post-Tax contributions

If you have exhausted your concessional (pre-tax) contribution cap of $27,500 for the financial year, you can also make post-tax contributions also known as Non-concessional contributions up to $110,000 per financial year. If you are 65 years old you may also be able to use the ‘bring forward’ rule and make up to $330,000 in non-concessional contributions over three years.

As a member of the Alcoa of Australia Retirement Plan you are able to make voluntary contributions to your super account using BPAY. BPAY allows you to make a contribution by phone or from your internet banking account at a time convenient to you. BPAY is available 365 days a year.

To make a contribution via BPAY, log in to your online account and visit the personal details section for the Biller Code and Personal Reference Number or, for assistance call the Helpline on 1800 355 028. 

5. Review your investment strategy

The plan offers different investment strategies so it’s important to think about the level of risk versus reward that you’re comfortable with and understand which strategy is right for you at different times in your life. Investment strategies within higher returns tend to be higher risk and are often used by people with low super balances with a view to increasing returns. If you’re nearing retirement you might be more comfortable with a lower risk strategy. The Alcoa Plan has five different options, which offer different returns due to where they are invested. Attend a workplace advice session to learn more about the options available.


Alcoa of Australia Retirement Plan Pty Ltd ABN 80 065 702 454 RSE Licence L0002974, Australian Financial Services Licence #530684, as Trustee for Alcoa of Australia Retirement Plan ABN 80 928 800 255. This website is provided by Mercer Outsourcing (Australia) Pty Ltd (MOAPL) ABN 83 068 908 912, Australian Financial Services Licence # 411980. The Trustee pays a fee for the provision of this service, however this fee is not conditional on you using this service or acting on the information or advice provided through this service.