Home Superannuation How To Boost Your Superannuation Balance While You’re A Stay At Home Mum

How To Boost Your Superannuation Balance While You’re A Stay At Home Mum

written by Shelley Marsh 31/07/2013
Boost your Superannuation while you are a stay at home mum

Superannuation is important for all women, but probably even more so for Stay At Home Mums (SAHMs).  Having a break from paid work reduces our ability to contribute to our super leaving us much worse off than others when it comes to retirement age.

Last week I wrote about the superannuation co- contribution scheme and, if you qualify, what a great way it is to boost your superannuation balance for free (please click here to see the post).  During the week I had lots of questions from readers asking whether stay at home mums (SAHMs) can receive the co-contribution.  Unfortunately, the co-contribution scheme is only available to those in employment or self-employment.  As it stands, the powers that be, consider being a full time mum as “non paid work”,  so we do not qualify for the scheme.  Sadly, being paid in kisses and cuddles does not count as income 🙁

However, there are a couple of things that you can do to boost your super as a SAHM and here they are:

(1)    Individual contributions – Anyone, regardless of whether they are in paid work or not, under the age of 65 can make super contributions.  So, SAHMs can continue to contribute to their super if they choose to do so.  Whether you make before or after tax contributions, depends on whether you have any other income (say investment income).  Seek financial advice to see which way is best for you.

(2)    Spouse contributions – if you have an assessable income of between $0 and $13,800 then your spouse can make after tax contributions to your super and claim a tax offset on their tax return.  Many SAHMs would qualify for this.  If you earn less than $10,800, the maximum tax offset that can be claimed is $540.  To receive this benefit your spouse must contribute $3,000 or more of after tax contributions into your super. The tax offset is progressively reduced until it reaches zero if you earn $13,800 or more in assessable income in a financial year.

(3)    Splitting contributions – Under this strategy your spouse can make before-tax (concessional) contributions into a super fund and arrange to split those contributions with you.  If your spouse plans to do this with you, then you must be under the age of the age of 65.  Also, your spouse needs to complete a particular form stating they propose to split super contributions with you.  This is a complicated strategy and there are other rules (like you can only split contributions made in the previous year), so make sure you get financial advice if this is something you are considering doing.

(4)    Find your lost superannuation.  Such a simple way to boost your balance and reclaim what is rightfully yours.  Click here to see my previous post and find out how.

In case you were wondering, a spouse can be a married or de facto partner of the opposite or same sex.  They have to live with you as your husband or wife and it doesn’t include a person who lives apart from you permanently.

I hope that this helps!

If you liked this post you might also like:

Your Superannuation And Your Children: One Thing You Really Should Know

How To Boost Your Superannuation Balance For Free!

Women And Superannuation: How Do You Make Sure You Have Enough?

3 Easy Ways To Find Your Lost Superannuation 

5 Financial Tips You Should Know Now You’re A Parent

* Please note this is for your general information only and does not constitute financial advice.  Please see a financial planner or accountant to get advice specific to your individual needs.

You may also like


Jody at Six Little Hearts 04/08/2013 at 5:07 pm

Thanks for clearing that up for me!

After 13 years at home my super is pathetic! I shall look into my options!

Money Mummy 04/08/2013 at 9:43 pm

No worries Jody! Your comments on my last superannuation post were part of my inspiration so thank you! Money Mummy

Ness 05/08/2013 at 2:57 pm

This post has reminded me that I need to chase up some of my ‘lost’ super. Thanks for the reminder and all the great tips.

Money Mummy 05/08/2013 at 7:04 pm

Yes – chasing up your lost super is very important and such an easy way to improve your current superannuation balance. Money Mummy.

Emily @ Have a laugh on me 05/08/2013 at 3:10 pm

Wow that is interesting, I should be able to qualify as I am self-employed, well I have an ABN no. so does that make me self employed – I’m sure I’m being thick when I ask this question. I just got a note from my old super fund for when I was employed and it reminded me that for the past 3 years I have been working and have put NOTHING aside for my super… great advice!
And thanks so much for linking up to I Must Confess – it’s very much appreciated!
Emily 🙂

Money Mummy 07/08/2013 at 8:57 pm

Hi Emily, I will have to check the rules around self employment. It was my pleasure to link up with you and I look forward to doing it again next week. Money Mummy

Jodie@FreshHomeCook 05/08/2013 at 5:27 pm

I am always worried about my super since I stopped ‘working’ & became a SAHM. Have been too slack to look into it, but this info really helps – thanks so much for sharing!! 🙂

Money Mummy 06/08/2013 at 10:00 pm

Hi Jodie! I am so glad you found the post useful. It is so easy to forget your super when you are a busy SAHM 🙂 Money Mummy

Jen Hale 05/08/2013 at 9:33 pm

I must confess I am still working. I recently set up a Self managed super fund in order to control my destiny. This is important and they are such great tips.

Money Mummy 06/08/2013 at 9:54 pm

Hi Jen – I am glad you liked my post. I agree superannuation is so important, especially for women given we often take breaks or work part time during our working lives. I am going to write more on the topic to hopefully spread the word. Thanks Money Mummy

How To Increase Your Superannuation Balance For Free! 07/08/2014 at 6:27 am

[…] Previous Next […]

Kamila 11/02/2016 at 5:16 pm

Hi Money Mummy,

Do you know if I can transfer my Super to my Spouse’s Super? Just became a SAHM within the last year & noticed my super declining with the fees etc. We have been contributing to it however it is not enough 🙁 Thought maybe it would be better to transfer to his Super acct rather than let it eventually disappear.

Let me know your thoughts.

Shelley Marsh 15/02/2016 at 7:17 pm

Hi Kamila, I can’t give you any financial advice but I am pretty sure there are rules that stop you from giving all your superannuation to someone else. If I was you I would ring your superannuation company and see what they say. They should be able to help you out.

Alicia Jamal 18/07/2016 at 4:27 pm

Hi Money Mummy,

Do you have any super fund recommendations for permanent SAHM’s. I worked in the corporate world for 10 years but now have been at home for 10 with my children, and my super is slowly eroding away year by year.


Leave a Comment