Most people think of super access in terms of age, but when life deals a cruel blow, the rules allow members early access subject to certain conditions. It’s a valuable safety net.
Tag Archives | superannuation
In considering whether setting up an SMSF is the right decision for you, weigh up compliance obligations and cost with the main advantages SMSFs offer over other super funds. The 6 key positives are enumerated here.
APRA’s letter to super funds highlights concerns about ‘cash’ investments. A lack of understanding might haunt investors when the next downturn comes as too many people forsake protection for yield.
Garry Weaven was instrumental in the development of the industry fund movement, and as Chair of IFM Investors, he outlined his five areas of future investment potential and policy in his address to the AIST Conference.
Claims that zero tax rates on superannuation pension funds are a rort are misinformed because they ignore the taxes paid to put money into super, and the social contract that super was designed for.
The 17% tax on the taxable component of superannuation paid to non-dependants upon death acts like a death duty, and it’s worthwhile finding out how to avoid it using legal means.
Round 5 of the Royal Commission focused on superannuation. Conflicts of interest, trustee responsibilities and delays in meeting the legal obligation to transfer default clients to MySuper products featured.
What to do if super guarantee payments from multiple employers, combined with salary sacrifice arrangements, have resulted in a breach of the concessional contribution cap.
Amid the Royal Commission words like toxicity, rot, darkness and attrition, the super industry must rebuild trust with accessible, open and candid communication, and stop scoring own goals.
The 1 July 2017 changes have caused huge shifts in SMSF assets out of pension mode, and Labor’s proposed franking credit refunds policy is a further hit to self-funded retirees.
The Royal Commission stoked the coals on financial advice fees and commissions, taking three days to learn trustees and management are severely conflicted by best interest responsibilities.
APRA and the ATO do not measure fund performance in the same way. The discrepancy can cause SMSF performance to appear worse than it actually is, and better collaboration between regulators is required.
The $1.6 million Transfer Balance Cap (TBC) on pension accounts affects only capital balances. It’s not affected by income earned and pensions paid, and there are ways to maximise the remaining tax-free status.
Life expectancies have increased dramatically since the nineties, but the uncertainty is forcing retirees to live too frugally. The super industry is switching its attention to the drawdown phase to find better solutions.