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Meg Heffron

The two things you need to know about $1.9m super cap

It can be the most baffling number in retirement savings but figuring it out could help you get more into your fund.

Superannuation is full of thresholds, limits and magic numbers. One of these is $1.9 million. And while it’s relevant because it’s the current transfer balance cap, exactly what it’s used for can still get confusing.

First, let’s look at its role as the general transfer balance cap. We will all eventually have our own personal transfer balance cap. It’s the lifetime limit on the amount anyone can put into a pension in retirement.

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Meg Heffron is managing director at SMSF specialist firm Heffron.

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    Original URL: https://www.afr.com/wealth/personal-finance/the-two-things-you-need-to-know-about-1-9m-super-cap-20240212-p5f4dl