Super co-contributions pass $1 billion

Senator Nick Sherry, minister for superannuation and corporate law, has announced the government has now paid over $1 billion in superannuation co-contributions this financial year. He said it was important individuals ensure they don't miss out on a co-contribution payment next financial year by making personal contributions before 30 June 2008. Those on an income of $28,980 or less will receive the maximum co-contribution payment of $1.50 for every $1.00 of after-tax contributions.