Q: Can I make a concessional contribution to my super fund once I have more than $1.6 million?

A: Yes. It is possible for a person to have concessional contributions made to superannuation irrespective of the total amount they have in super.

There is no limit to the amount a person is permitted to accumulate in superannuation.

The value of pensions measured against a person’s transfer balance cap for amounts in retirement phase is not permitted to exceed $1.6 million.

However, if a person’s total balance in all superannuation funds exceeds $1.6 million it is not possible to make non-concessional contributions to superannuation.