Women lead in voluntary contributions: Rest

New analysis by the profit-to-member fund found women represented around 65% of members making voluntary contributions, compared with 35% men.

The data also showed a sharp concentration of voluntary contributions around the end of the end of the financial year, with May and June accounting for 19% of contributions by number but 42% of their total value.

Average contribution amounts more than doubled during the two months, suggesting members who make more voluntary contributions at EOFY tend to contribute substantially larger amounts.

Contributions activity was relatively steady throughout the remainder of the year, with the other 81% of contributions spread across the preceding 10 months.

Rest chief member officer Simone Van Veen said the findings presented an opportunity for members to take a more considered approach to their retirement savings.

"The start of a new financial year is a great opportunity to think about the steps you can take over the next 12 months to help build your retirement savings," Van Veen said.

The fund also recorded a surge in member engagement with contribution-related information, with visits to contribution focused content more than tripling in May and June compared with the preceding two months.

Van Veen said members could benefit from moving away from an EOFY-driven approach and considering their options earlier.

"Rather than waiting until June, members may benefit from taking time earlier in the year to understand their options and make a plan that feels achievable," Van Veen said.

Salary sacrifice and member voluntary contributions were the most common contribution types, while downsizer contributions generally involved significantly larger one-off amounts.

Contribution amounts also tended to increase with age, according to the analysis.

Van Veen said members could use the start of the financial year to review their super balance, retirement goals and eligibility for measures such as government co-contributions.

"Even small changes made today can make a meaningful difference over time, particularly when you consider the impact of compounding returns over the long term," he said.