If you are younger than age 65, it is relatively easy to contribute money into super to build your retirement assets. However, once you are older than 65 contributing to super is more complicated. There is a complicated web of legislation which you need to navigate to confirm if you are eligible to contribute money into this tax efficient structure.  This complexity emerges right at the moment when boosting your retirement savings becomes one of your highest priorities!

The benefit of getting money into superannuation is clear – you won’t pay any tax in retirement on these assets and before retirement the most you will pay is 15% – a much lower rate than most working Australian’s pay.

But if you are over 65 years old, don’t despair. Recent changes now mean that if you are aged between 65 and 74 and finished working last financial year, you may still be able to contribute to your superannuation, even though you are no longer working.

Previously, once you turn 65, you were required to pass a ‘work test’ ensuring you worked for at least forty hours in a one month period.  Recent legislative changes mean that if your balance is less than $300,000 at 30 June, 2018, and you met the work test in the 2018/19, financial year, you can contribute to your fund this year even if you aren’t working. This change offers senior Australians another pathway to further boost their retirement savings and tax effectively increase the assets available to them to fund their household expenses once they stop working.

We’ve provided a summary below which shows the types of contributions that you can make depending on your age. With this new change, many more Australians who want to boost their retirement savings tax effectively will be able to do so. For more information please contact your Milestone financial planner on 02 6102 4333.

Superannuation Contribution Rules

Contribution type Under age 65 Age 65 but under 70 Age 70 but under 75 Age 75 and over3
Member (personal) contributions1 Yes Yes, if work test met or work test exemption applies2 Yes, if work test met or work test exemption applies2 No
Spouse contributions (recipient spouse) Yes Yes, if work test met or work test exemption applies2 No No
SG and award/industrial agreements employer contributions Yes Yes Yes Yes
Salary sacrifice and additional employer contributions Yes Yes, if work test met or work test exemption applies Yes, if work test met or work test exemption applies2 No
Transfers/rollovers Yes Yes Yes Yes
CGT exempt contributions and overseas transfers Yes Yes, if work test met or work test exemption applies2 Yes, if work test met or work test exemption applies2 No
Co-contribution (made by Government)4 Yes Yes Yes, in limited circumstances4 No
Downsizer contribution No Yes Yes Yes


1 Includes contributions arising from structured settlements and personal injury orders.
2 Work test exemption applies if work test is met in the 2018/19 financial year and total super balance on 30 June 2019 was less than $300,000.
3 Personal and non-mandated employer contributions can be made up to 28 days after the end of the month the person turns 75 (provided the work test has already been met in the financial year for which the contribution is being made).

4 An eligible member contribution must be made into superannuation to qualify for Government co-contribution. The person must be under age 71 at the end of the financial year in which an eligible member contribution is made to receive a co-contribution.

Milestone Financial Services ABN 68 100 591 508 trading as Milestone Financial is an Authorised Representative of AMP Financial Planning Pty Limited, ABN 89 051 208 327 AFS Licence Number 232706, Level 8, 33 Alfred Street, Sydney NSW 2000, Australia.

This document contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. The examples used are illustrative only and are not an estimate of the investment returns you will receive or fees and costs you will incur.

If you decide to purchase or vary a financial product, your financial adviser, Milestone Financial Services Pty Ltd and other companies within the AMP Group may receive fees and other benefits. The fees will be a dollar amount and/ or a percentage of either the premium you pay or the value of your investment. Please contact us if you want more information on (02) 6102 4333.

Contact us for further information or to make an appointment

02 6102 4333


12A Thesiger Court Deakin, ACT 2600

Contact us

Address: 12A Thesiger Court, Deakin ACT 2600

Phone: 02 6102 4333

Email: enquiries@milestonefinancial.com.au

Milestone Financial Services Pty Ltd

(ABN 68 100 591 508) is an Authorised Representative and Credit Representative of AMP Financial Planning AFSL 232706