Have you checked your superannuation lately? It's worth keeping an eye on your investment as the more money both you and your employer contribute, the more time your savings has to grow. This means you can enjoy your retirement in comfort.

Many of us tend to 'set and forget' our superannuation. But it is worth checking in regularly to ensure you are always getting the best deal (and that you're being paid what you are owed). There is currently more than $14 billion in lost super in Australia, so you'd be crazy not to.

Here are three ways to maximise your superannuation:

Over the period of your working life, by law your employer must pay 9.5% of your salary into a super fund. This is known as the Superannuation Guarantee and is likely to increase to 12% in the future.

However, for many Australians, this isn't enough to prepare for retirement. So, there is also the option to voluntarily contribute to your super. This significantly increases the amount of super you have once you reach the age of retirement. Remember, the more you save, the earlier you can stop working.

There are several reasons why you should increase your super:

• The inevitable increase of the cost of living
• If you are eligible, then the Government support such as the age pension may not be enough to live on in retirement
• You may be eligible for extra Government contributions.

If you want to contribute extra money to your superannuation, there are several options.

You can choose to sacrifice a portion of your salary to your super which counts towards your concessional contributions cap. This amount is paid through your employer directly into your super account and is only taxed at 15% (as long as your concessional cap is not exceeded). 

You can deposit money directly into your superannuation account but you will not receive a tax break on these contributions.

If you are self-employed then you are not required to make super contributions to a fund. However, ti is worth looking into options such as being able to claim a tax deduction when you contribute to your superannuation and be aware that there is a limit to how much you can contribute.

It is crazy to have more than one superannuation fund in most circumstances, so consolidate your accounts. More often than not, you are just doubling up on fees and administration. Worst of all, you're increasing the chance of losing track of money owed to you.

According to research conducted for the Association of Superannuation Funds of Australia, the main reason why so many Aussies haven't consolidated their super accounts is because they simply had the opportunity to do so.

It's crucial that you receive appropriate information when it comes to your superannuation. Getting the right advice now could pay off significantly for your financial future and make a massive difference when the time comes for retirement. Of course, there are many underlying factors that need to be considered before you make any drastic moves.

We offer a complimentary Superannuation and Risk Cover Insurance review which will allow you to see where your superannuation sits currently and identifies opportunities for improvement. We can also help you track down your lost superannuation accounts.

To get started with this, all you need to do is contact us.