Most Australians receive a minimum of 9% of their salary contributed into their super account from their employer. This is known as the Super Guarantee. The Superannuation Guarantee will increase to 9.25% on 1 July 2013 before gradually increasing to 12% by 1 July 2019.

While these contributions help your super to grow, they may not be enough to help you have a comfortable retirement. Super is one of the best ways to save for retirement as you get tax concessions on contributions and investment earnings.

A recent study by ASFA* shows a major shortfall Australians face in retirement if they only rely on their 9% employer super contributions.

A single person needs around $788 and a couple $1,078 a week, for a comfortable retirement. According to ASFA, your current employer super contributions earn you a rather modest lifestyle in retirement. A modest lifestyle allows only $432 a week for a single person.

By adding extra to your super now, you can close the gap to enjoy a more comfortable retirement. A comfortable retirement means being able to afford most things you value now, such as: entertaining family and friends, private health insurance, internet at home, running your car and yes, even those little luxuries like dining out.

You can grow your super in the following ways:

• Extra contributions: contribute your own money to super by making regular before- or after-tax contributions, one-off lump sum payments or by contributing to your spouse's super.
• Commonwealth Government Super Co-contribution: is a Commonwealth government initiative designed to increase the retirement savings of Australians, by matching your personal after-tax contributions.
• Roll-in: consolidate your super funds into one account.
• Find lost super: track down super accounts you may have lost track of from past jobs.

To see what kind of retirement you're headed for, and how much extra you need to save per week, have a look through our calculators or see if you are eligible for the Super Co-contribution.

*Association of Superannuation Funds of Australia, Retirement Standard, Sept quarter 2012.

Gold State Super

Gold State Super members can make extra contributions (above their average contribution rate) into a separate West State Super or GESB Super account. Learn more.

Disclaimer: This information is of a general nature. The information does not take into account your investment objectives, financial situation or needs. If you need specific advice for your personal circumstances, you may wish to consult a suitably qualified adviser to ascertain whether the information is appropriate for you.