I’m 58, single and earn $120,000 per year. I’m receiving an inheritance shortly and would like to use it to boost my super in preparation for retirement somewhere in my 60s. I’ve never made any extra super contributions, just what my employer puts in. I know there are limits to what you can put into super. How much will I be able to deposit?

Given your income level, your employer will contribute $13,800 into super over a year. The current limit for this type of contribution (known as concessional) is $30,000, so you have $16,200 unused and therefore available to you.

Using an inheritance for a super boost can be a great move, but mind you don’t exceed your yearly caps.Credit: Louie Douvis

If your superannuation balance is under $500,000 at the beginning of the financial year, you also can make catch-up contributions. These give you the ability to look back over the prior five years and make use of any unused concessional contribution limits.

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