How super works

Set out below are all SuperGuide articles explaining How super works.

2016 Federal Election: Less Age Pension, and paid to fewer Australians

The change to the Age Pension rules is a bad example of ‘back to the future’ it seems, with a harsher Age Pension asset test taking effect from January 2017. The federal government expects 300,000 retired Australians will lose some, or all, Age Pension entitlements overnight.Before September … [Read more...]

2016 Federal Election update: What superannuation and retirement policies can you expect?

The May 2016 Federal Budget was released on 3 May 2016, rather than its usual date of 10 May 2016. Linked to the Budget night change, Prime Minister Malcolm Turnbull has now confirmed the federal election is to be held on 2 July 2016.The ALP made a preliminary response to the Coalition’s … [Read more...]

Life expectancy: Will you outlive your retirement savings?

Every five years, the latest data is released on average life expectancies, that is, how many years you’re expected to live, on average. The table contained within this article contains the most up-to-date information on expected lifetimes.Note: Updated life expectancy tables were released by … [Read more...]

Age Pension: 300,000-plus Australians lose entitlements from January 2017

Note: Changes to the Age Pension assets test are now law, and will take effect from 1 January 2017. The successful passage through parliament was due to the Greens supporting the changes announced by the Liberal/NP government in the 2015 federal budget. The ALP opposed the changes. Continue reading … [Read more...]

Super stinker update: Immediate cut to non-concessional contributions caps

On 3 May 2016, as part of the 2016 Federal Budget, Scott Morrison mucked up the retirement plans of countless Australians when he immediately cut the non-concessional (after-tax) contributions cap, taking effect from 7.30pm on 3 May 2016. On 12 May 2016, the ATO published further information on this … [Read more...]

Super funds gain 1.4% for April, and 1.7% for 2015/2016 year to date

The median superannuation growth fund gained 1.4% in value for the month of April 2016, and gained 2.8% for the 3 months to April 2016, although due to losses in previous months has only gained 1.7% over the financial year to date (10 months to April 2016), according to superannuation ratings … [Read more...]

Financial advice: Only 76 independent financial advisers in Australia

Note: This article is updated regularly when new financial advisers join the independence club (latest update May 2016). A financial adviser does not have to be a member of the IFAAA to join the SuperGuide list, provided they can declare that they satisfy the requirements of being an independent … [Read more...]

Retirement and tax: What are the minimum pension payment rules?

Q: I am 63. I want to retire next year but I am not sure if I want to access my super benefits yet. I have heard that when I retire, I must withdraw some super benefits each year, otherwise I won’t receive tax-free super benefits. Can you please clarify the rules for me?A: Your question is … [Read more...]