Super Frequently Asked Questions
Superannuation, or super, is Australia’s compulsory long-term savings plan that enables you to save money for your retirement. Your employer pays a minimum of 9.5% of your salary into a super fund nominated by you – Crescent Wealth Super is one such fund you can choose.
Your entitlement is arranged into a superannuation fund which is invested into various assets, so they may accumulate and grow as part of your retirement savings. You have the right to choose the investment option for your super that best meets your needs, ethical principles and expectations.
Super is also a tax-effective way to save for your retirement. You only pay 15% contributions tax on before-tax super contributions*.
After-tax super contributions are not taxed going into the superannuation fund as you have already paid tax on them. Earnings in the funds are taxed at 15%.
Contributions are made into your super account. These can be from your employer, you, your spouse and/or the government.
Note: You may be taxed by the Government on your super withdrawal, depending on your age when you make the withdrawal and the amount withdrawn.
*Please consult a financial planner or your tax agent for advice.
Once you retire or reach your preservation age you can:
- Continue to hold your money in super, paying 15% tax on earnings and making withdrawals when it suits you^
- Withdraw some or all of your money as a lump sum^
- Use some or all of this money to start a pension account that pays you a regular income
^You may be taxed on your super withdrawal, depending on your age when you make the withdrawal.
There are things that you can do today to increase your super for retirement:
- FIND LOST SUPER. There are millions of ‘lost’ super accounts in Australia worth billions of dollars. Some of this could be your money. Crescent Wealth offers a complimentary service to help you get your lost super back and combined into your Crescent Wealth Super account. Call us today on 1300 926 626 and talk to one of our Super specialists to avail of this complimentary service.
- CONSOLIDATE/COMBINE all your super accounts to avoid paying multiple sets of fees and charges that over a lifetime may total thousands of dollars. This could be valuable when you retire. You can do this online or ask us on how to do it and we will gladly walk you through the process over the phone. There are some things you should consider before deciding whether to consolidate your super, such as whether there are any fees for consolidating (e.g. exit fees) or other loss of benefits (e.g. insurance).
- YOUR CONTRIBUTIONS STRATEGY. It may be possible to make extra contributions to super from your pre-tax salary through salary sacrifice and take advantage of super’s 15%* concessional contributions tax rate. Remember that there is a limit on the amount of pre-tax contributions you can make to your super each financial year. If you contribute more than the limit allowed, you will pay additional tax on your excess contributions.
- TAKE ADVANTAGE OF GOVERNMENT INCENTIVES for example if you are eligible for co-contributions and spouse contributions, this could be a great way to add to your super balance.
**Please consult a financial planner or your tax agent for advice. 1 Australian Taxation Office, Taxation statistics 2010-11, ‘A summary of tax returns for the 2010-11 income year and other reported tax information for the 2011-12 financial year’.
Islamic investment principles, also known as Responsible investing, refers to an investment philosophy that differs substantially from the conventional approach to investments. It represents a philosophy established to create a better world through investments that benefit society, consider the environment and support the well-being of our future generations.
Yes. According to data sourced from the Association of Superannuation Funds of Australia (ASFA), we find that on average 25 – 40% of superannuation monies is directly invested in non-Islamically compliant assets. These include interest bearing products and shares in companies dealing in weapons, alcohol, gambling and other prohibited sectors.
In addition, the vast majority of superannuation funds do not take Islamic investment principles into account.
We actively screen out investment opportunities that earn profits from market prohibited goods/services such as alcohol, gambling, riba/interest, weapons and more. We also filter out companies who have high levels of debt/gearing, cash or short-term investments and receivables. We do this by adhering to the AAOIFI standards, under guidance of our Shariah Supervisory Board and using an investment research firm IdealRatings.
- All our investments comply with and adhere to the globally recognised standards for Islamic Investment principles as set by AAOIFI. AAOIFI determine the laws based on Islamic Jurisprudence. AAOIFI is comprised of dozens of the world’s leading Islamic Finance scholars who also provide these standards for the world’s leading Islamic financial institutions.
- We have a globally recognised Shariah Supervisory Board from Dubai - Dar Al Shariah - consisting of scholars of Islamic finance who advise leading Islamic institutions and who monitor each of our funds adherence to the above principles. Dar Al Sharia has been awarded the World’s Best Sharia Advisory Firm and World’s Best Islamic Consultancy Firm 7 years in a row with IFN. We have their fatwas for each of our specific products should you wish to view them.
- Each investment undergoes in-depth analysis for its Islamic compliance by IdealRatings, the world’s most trusted Islamic investment research firm. Established in 2006, IdealRatings works with investors like Crescent Wealth who want to align their values with their investment goals. Keeping pace with the significant growth and evolution of Islamic finance, they have been enhancing and expanding their tools and services for values-based investors.
Our highly skilled investment team researches the globe to analyse, undertake due diligence and ultimately appoint and outsource the best and most appropriate investment managers as Crescent Wealth’s investment sub-advisors. All funds are managed in accordance with Islamic investment principles while providing diversification across major asset classes such as Australian shares, international shares, Islamic money market securities and, listed and unlisted property.
Superannuation is an investment for your retirement and as such Crescent Wealth, has a comprehensive regulatory framework in place to safe guard your super. Crescent Wealth Super Fund (CWSF) is registered under the Australian Prudential Regulation Authority (APRA).
Crescent Wealth does not physically hold any of your money. It is held by RBC Investor Services, a subsidiary of Royal Bank of Canada as Crescent Wealth's independent custodian.
In addition, Crescent Wealth has Diversa Trustees Limited as the independent trustee who are responsible for the regulatory compliance and operations of the Fund.
Yes – As required by law, the Trustee of the Fund, Diversa Trustees Limited, holds both an Australian Financial Services Licence – AFSL: 235153 (issued by ASIC) and a Registrable Superannuation Entity Licence RSE: L0000635 (issued by APRA). In addition, the Fund has been registered with APRA (the Superannuation Regulator) and has been given the Fund Registration Number R1075182. The Crescent Wealth Super Fund Australian Business Number (ABN) is: 71 302 958 449.
The Crescent Wealth Super Fund (the Fund) offers competitive ongoing investment fees. These may vary depending of the underlying composition of the assets within the option.
Click here for a detailed break down of fees.
The latest ASFA Retirement Standard estimates that a couple will need approximately $60,063 a year to enjoy a comfortable retirement or $43,695 if you are single1. But everyone is different and may have different circumstances. ASFA can give you a sense of how much you may need to retire and whether you are on track, as well as helping you see the long-term effects on your superannuation for the things you can control.
Yes. We also provide Islamically compliant investment funds which individuals can invest directly into. Our four funds are:
- Crescent Wealth Australian Equity Fund
- Crescent Wealth International Equity Fund
- Crescent Wealth Property Fund
- Crescent Wealth Cash Fund
If you have a self-managed super fund, you can invest directly in any one of our managed funds in order to gain exposure to a specific asset class, for example Islamic compliant Australian property via the Crescent Wealth Property Fund.
Super Fund Name
Crescent Wealth Superannuation Fund
Superannuation Product Identification Number (SPIN)
Australian Business Number (ABN)
71 302 958 449
Unique Superannuation Identifier (USI)
71 302 958 449 001
Crescent Wealth Funds Management (Aust) Pty Ltd. Australian Financial Services Licence (AFSL)
Fund Postal Address
Crescent Wealth Superannuation Fund
GPO Box 4650
Melbourne VIC 3001
Your Username is your 9 digit member number that you can find on your annual statement. If you can't remember your member number please contact our Member Care team for assistance on 1300 926 626.
If you do know your username, and have only forgotten your PIN, simply input your username in the member login portal and click “Reset PIN” and follow the instructions.
No. Crescent Wealth is not a financial lending institution. We are a superannuation and wealth management company.