Buy shoes, earn super – ChildCare Super launches SUPERSUPER program
Early childhood education and care (ECEC) superannuation provider, ChildCare Super, has launched a discount gift card scheme, which allows fund members to earn cash rebates on everyday purchases such as groceries and clothing, and have the rebates paid automatically into their super fund
ChildCare Super describes the SUPERSUPER program as a shop and save rewards program, which allows members to add to their superannuation account daily, by shopping with participating retailers such as grocery stores, department stores, and petrol stations.
E-vouchers or gift cards are purchased through the SUPERSUPER site, and are then spent in store, with the current number of participating businesses in the region of 100. A cash discount is calculated as a percentage of every dollar spent, which is then added to the fund members account.
Promotional material on the company’s website says the potential for a member who joins the program in their early thirties is to add an extra $20,400 to their superannuation by age 67 through participation in the scheme and compound interest.
ChildCare Super says the intention of the scheme is to make savings using superannuation easier and fairer for women and their families, citing research which says women are at higher risk of retiring with less money in their superannuation than men.
Further information about superannuation comparisons can be found at Canstar https://www.canstar.com.au/providers/child-care-super/