Is calculated as the total of your household superannuation balance growth at an hourly rate and includes employer contributions received while working, as well as any salary sacrifice or post-tax contributions to your superannuation.
Going a little deeper now. The growth of your super balance includes the Super’s Balance Earnings, your employer contributions and other contributions you make to your Super via salary sacrifice or post tax contributions.
Balance Earnings is calculated as the sum total of existing Super multiplied by the Superannuation Earnings Rate. We set a default rate for this at 5.5% which is net of all Superannuation fund fees and charges, but you can adjust the value by locating the Projected Superannuation Earnings Rate (%) within the Superannuation profile area under the Other Assets sub-menu, within the web/desktop version, or in the mobile app version within the Financial Cards section of Moorr®.
Following the rules of superannuation, when you are working, you receive contributions paid into your Super, referred to as Employer Contributions – which are calculated based on your salary, after deducting any salary sacrifice into Superannuation, or other salary sacrifice, multiplied by the current minimum employer contribution rate, set by the government and adjusted for tax payable within the super fund (not your individual marginal tax rate).
Finally, any additional contributions you make through super salary sacrificing arrangements or any contributions you make directly to superannuation out-of-pocket.
The diagram shows the source of contributions that make up the total value of your SuperSPEED money you have tucked away in your Super. Note: For couples, the calculations in Moorr® are performed individually, before being added together to make up the household hourly rate value.
That brings us the AssetSPEED™.