FAQs
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General information
Superannuation, or super, is Australia’s compulsory long-term savings plan that enables you to save money for your retirement. Your employer pays a set percentage of your salary into a super fund nominated by you. Salaam Wealth is one such super fund you can choose. You can view the super guarantee percentage by visiting the Australian Taxation Office website here.
Contributions are made into your super account. These can be from your employer, you, your spouse and/or the government. Your entitlement is arranged into a fund which is invested into various assets, so they may accumulate and grow as part of your retirement savings. You can 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% tax on before-tax super contributions*
- After-tax super contributions are not taxed as you have already paid tax on them
- Earnings in the funds are taxed at 15%.
(Note: You may be taxed by the government on your super withdrawal, depending on the age you make the withdrawal and the amount withdrawn.)
*Please consult a financial planner or your tax agent for advice.
Islamic investment principles refer to an investment philosophy that differs substantially from the conventional approach.
At its core is building a better world through investments that benefit society, consider the environment, and support the well-being of our future generations.
Read more about our Islamic investment principles here.
All our investments comply with and adhere to the globally recognised standards for Islamic Investment principles as set by AAOIFI. 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 and determine the laws based on Islamic Jurisprudence.
We also have a globally recognised Shariah Supervisory Board from Dubai - Dar Al Sharia - consisting of scholars of Islamic finance who monitor each of our funds’ adherence to the above principles. Dar Al Sharia has been awarded the World’s Best Shariah Advisory Firm and World’s Best Islamic Consultancy Firm seven years in a row with IFN. We have their fatwas for each of our specific products should you wish to view them.
In addition, 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 Salaam 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.
This means we actively screen out investments that earn profits from market-prohibited goods or services such as alcohol, gambling, riba/interest, weapons and more. We also filter out companies that have high levels of debt/gearing, cash or short-term investments and receivables.
Read more about our Islamic compliance and investment philosophy.
You can view the latest ASFA Retirement Standard estimates that a couple, or a single person will need for a comfortable requirement here.
But everyone is different and may have different needs and 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 understand how your options and decisions can affect your superannuation in the long term.
Your preservation age is the age you can access your super if you are retired (or start a transition to retirement income stream).
If you were born before 1 July 1960, you have already reached your preservation age of 55 years. You can access your super once you have met a condition of release. If you were born after 1 July 1960 your preservation age depends on when you were born.
(Note: Preservation age is not the same as pension age.)
| Date of birth | Preservation age |
| Before 1 July 1960 | 55 |
| 1 July 1960 – 30 June 1961 | 56 |
| 1 July 1961 – 30 June 1962 | 57 |
| 1 July 1962 – 30 June 1963 | 58 |
| 1 July 1963 – 30 June 1964 | 59 |
| From 1 July 1964 | 60 |
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.
Superannuation Fund Name
Russell Investments Master Trust
Unique Superannuation Identifier
(USI) TRM0001AU
Australian Business Number
(ABN) 89 384 753 567
Salaam Wealth Funds Management (Aust) Pty Ltd. Australian Financial Services Licence (AFSL):
365260
Fund postal address:
Salaam superannuation
Locked Bag A4094
Sydney South NSW 1235
Investment options in Salaam Wealth Super and formed from combinations of unit trusts under the trusteeship of Salaam Wealth Funds Management Limited. The investments in each trust are managed by professional investment management teams (sub-advisors) who are unaffiliated with either Equity Trustees Superannuation Limited or Salaam Wealth Funds Management Pty Ltd.
Our highly skilled investment team undertakes global research and analysis, conducts due diligence and ultimately appoints the best and most appropriate investment managers as Salaam Wealth’s investment sub-advisors.
All funds are managed following 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; Australia has a comprehensive regulatory framework in place to safeguard your super. Salaam Wealth Super Fund is registered under the Australian Prudential Regulation Authority (APRA).
Salaam Wealth does not physically hold any of your money. It is held by State Street as Salaam superannuation's independent custodian.
In addition, Salaam Wealth has TRM as the independent trustee responsible for the regulatory compliance and operations of the fund.
Salaam Wealth offers competitive ongoing investment fees. These may vary depending on the underlying composition of the assets within the investment option chosen.
View the product disclosure statement for a detailed breakdown of fees.
There are things 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 yours. Call us on 1300 926 626 and we’ll help you find any unclaimed super. - Consolidate your funds*
If you have multiple super funds, you may be paying multiple sets of fees every year that, over a lifetime, can add up to thousands of dollars. Let Salaam Wealth help you consolidate your super into one account. You can do this online or call us on 1300 926 626 and we’ll gladly take you through the process over the phone. - Make additional contributions
There are several ways you can make additional contributions to your super, including voluntary contributions, salary sacrifice and spouse contributions. Learn more about making additional contributions. - Discover government incentives
Several government incentives are designed to help low- and middle-income earners build their super, including co-contributions and spouse contributions. Learn more about applicable government incentives.
*Before deciding whether to consolidate your super, consider any applicable fees (e.g. exit fees) or loss of benefits (e.g. insurance).
**Please consult a financial planner or your tax agent for advice.
Switching funds, rollovers & contributions
Simply forward the Choosing Salaam Superannuation form to your new employer, or call us on 1300 926 626, and we will assist you over the phone.
If you’re not a Salaam Wealth member, you can join in under five minutes and we will help you find your lost super. This service is free of charge and only requires your Tax File Number (TFN). Join online or call our Concierge Team on 1300 926 626.
Alternatively, log in to or create a myGov account to find your lost super.
There are two ways you can make or receive contributions on behalf of your spouse:
- Spouse contributions
If your spouse earns a low or no income, you may be able to claim a tax offset if you contribute to their super fund by making a spouse contribution. See the ATO website for details. - Contribution splitting
You may be able to split your employer's super contributions with your spouse. Please refer to the contributions splitting on the ATO website for more information.
If you have questions, we’re happy to answer them. Call us on 1300 926 626.
Yes, you can. Please call us on 1300 926 626 and we’ll be happy to assist you.
Investment, returns & tax
Salaam superannuation offers three Islamically-compliant investment options. Each provides the opportunity to invest in a variety of global and domestic markets, asset classes and investments; and each has a different investment return objective, time frame, risk, and timing strategy.
Choosing the right option brings you a step closer to ensuring your super is invested according to your Islamic values.
Tax rules frequently change and can be complex. If you have specific questions, you should talk to your tax advisor or the ATO.
Currently:
- You pay 15% contributions tax on before-tax super contributions.
- After-tax super contributions are not taxed as you have already paid tax on them.
- Earnings in the funds are taxed at 15%.
- If you exceed the contribution limits set by the government, then you may need to pay more tax on your contributions.
- You may be taxed by the government on your super withdrawal, depending on your age when you make the withdrawal and the amount withdrawn.
Life events & your super
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 your money as a lump sum^
- Use some or all of this money to start a pension account that pays you a regular income.
If you die before being eligible to receive your super, the Trustee of the Salaam Wealth Super Fund must determine who to pay your super balance and any insurance benefits (if applicable) to, having regard to superannuation laws.
If you don’t nominate any beneficiaries or make a preferred nomination (also known as a non-binding nomination), the Trustee will exercise discretion and pay your death benefit to eligible beneficiaries – which could be your legal personal representative and/or any one or more of your dependents.
You can set up or change a preferred nomination (non-binding nomination) by logging onto your Member Portal at any time here, or by calling us on 1300 926 626.
You can set up or change your binding nomination by completing a valid, binding death benefit nomination form. Once completed, it must be posted to us.
(Note: You’ll need to submit a new binding nomination form every three years if you wish to maintain your nomination. If you don’t renew, the nomination automatically becomes preferred.)
You may be granted limited early access to your super in special circumstances (e.g. severe financial hardship, terminal illness, temporary or permanent incapacity etc.). For more information, call us or visit the ATO website.
Separation and divorce can be difficult and it’s important to understand the impact it can have on your retirement savings and finances. Guidance is given on the Family Court website.