How super works

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

Investment performance: Super funds gain 0.1% for September 2016

The median superannuation growth fund gained 0.1% in value for the month of September 2016, delivering 3.1% for the first 3 months of the 2016/2017 financial year, according to rating company, Chant West.For the 3 months to September 2016, Australian shares gained 5.2% in value. Over the same … [Read more...]

Comparing super funds: Top 20 cheapest funds for income protection insurance

Note: This article covers the best deals in super for income protection insurance. For the best deals in super on life insurance (death and disability cover), see SuperGuide article Comparing super funds: Top 20 cheapest funds for life insurance.In the past few years, insurance premiums … [Read more...]

Comparing super funds: Top 20 cheapest funds for life insurance

Note: This article covers the best deals in super for death and total permanent disability insurance. For the best deals in super on income protection insurance, see SuperGuide article Comparing super funds: Top 20 cheapest funds for income protection insurance.In the past few years, life … [Read more...]

Financial advice: Only 82 independent financial advisers in Australia

Note: This article is updated regularly when new financial advisers join the independence club (latest update October 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...]

SMSF pension: How do I start one?

Q: How do you change your self-managed super fund (SMSF) from accumulation phase to pension phase (husband aged 60, and retired) and transition-to-retirement pension phase (myself aged 57 and still working part time)? If an accountant has to do it, what costs could be involved? Your site has been a … [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...]

Age Pension: I have moved states. Do I get the same amount of pension regardless of where I live?

Q: I have read in a local newspaper that Age Pension rates have increased. I recently moved from New South Wales to Queensland. I am anxious to know if the Age Pension increases are for ALL Australians. Can you help?A: Any increases in the Age Pension are the same regardless of where you live in … [Read more...]

Does changing to part-time at 60 years, count as ‘retiring’?

Q: I am 60. I am interested in the condition of release relating to turning 60 and resigning. Is it sufficient to satisfy the ’turning 60 and resign’ condition of release by changing my employment arrangement from full-time to part-time, with the same employer?A: Most super benefits are … [Read more...]

I’m 60. Why can’t I access my super benefits?

Q: My husband just turned 60 years of age, and he has $80,000 in his super fund. We would like to withdraw his entire super as we need the funds to purchase a house. He is currently employed full-time and will be working for many years yet. We have sent the super fund all the documents to receive … [Read more...]

Remember! Retirement unlocks your super cash

In the hype and hoopla surrounding the rules relating to super – in particular, tax-free super benefits for over-60s, many of the websites in the super space forget to mention the magic words ‘preservation rules’.The rules surrounding when and how you can access your super have not changed for … [Read more...]

Accessing super: Turning 55 or 56 (or 57) is not enough

Q: I am 50 years old, born September 1964. I thought I could access my super funds from age 55 but I have been told I can’t access my funds until age 60. Is this correct? And, when I withdraw my super benefits, is there any tax payable?A: The general rule is that you must have reached your … [Read more...]

Unrestricted access to super, sometimes

Q: I have been a member of my super fund from about 1993. I see from your 14 legal ways to withdraw your super benefits article, that I may be able to access my restricted benefit. You write: “If you’ve been a member of a super fund since before 1 July 1999, you can cash your ‘restricted … [Read more...]