Meeting the work test

I’m 68. Working 16 hours a week. Can I add a lump sum to my accumulation super account, before I retire?

A: Thanks for the question.

As you are meeting the work test, potentially yes.

However:

  1. a) subject to a $100,000 cap each year (non-concessional cap); and
  2. b) if your total superannuation balance on 1 July was over $1,600,000, then you cannot make any contribution at all.

I hope this makes sense.


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