Q: After I retired in 2017 with superannuation assets of $871,000, I made no further contributions (either concessional or non-concessional). I have not withdrawn any money other than the required drawdown amounts each year. The fund has grown through share trading to $2.34 million. The ATO website says I have a transfer balance cap of $1.738 million and an available cap space of about $870,000. What does this mean? I am 72, single and conscious of the limited time left to contribute to my fund. Can I add $100,000 each year to my super until I turn 75? Examples on various websites address this issue only in the accumulation phase. Even the ATO website is unclear. David.

A: There are three important superannuation concepts you need to be mindful of when considering the various aspects of your question: your total superannuation balance, the general transfer balance cap and your personal transfer balance cap.