You can expect some difficult conversations between employers and employees in coming months as some salaried employees discover that the Superannuation Guarantee (SG) increase of 0.25% (taking the SG rate to 9.25%) will not benefit those employees on fixed remuneration packages. I have heard that … [Read more...]
Note: This article is written by Ashley Owen, Joint Chief Executive Officer of Philo Capital Advisers and a director of Third Link Investment Managers. This article first appeared on Cuffelinks.com.au, reproduced with permission. There’s a never-ending debate about income inequality and how … [Read more...]
From 1 July 2013, the official Age Pension age for women increases to 65 years, from 64.5 years previously. (From July 2017, the Age Pension age increases to 65.5 years until it reaches age 67 from July 2023.) Historically, the Age Pension age for women was 60 years, but since 1 July 1995, only … [Read more...]
The question is a popular one among prospective retirees, and the answer can be best explained by dividing the question into four parts: What is the Commonwealth Seniors Health Card (CSHC)? Who is eligible for the CSHC? What year of income does Centrelink use when testing for CSHC … [Read more...]
In early 2013, SuperGuide published two articles which triggered a lot of emails from readers, especially from women, about the financial demands placed on older women, and the financial denial many women and men experience when thinking about the lifestyle they are expecting in retirement. A … [Read more...]
Note: This article is a supporting article to the two-part series, ‘Crunching the numbers: a $1 million retirement’ and ‘Crunching the numbers: a $2 million retirement’ (links for these articles are set out at the end of the article). If you live off the earnings only from your invested … [Read more...]
From July 2013, eligible employees who are 70 years or older will receive Superannuation Guarantee (SG) payments from employers. The current SG rules stop SG entitlements when an employee turns 70 years of age. SuperGuide is proud to take credit for the positive influence that our regular … [Read more...]
Note: This article is regularly updated with new figures to allow readers to compare what a $2 million retirement can deliver if retirement savings are invested with returns of 7% a year, or if invested on retirement with returns of 5% each year. If you opt for a 5% investment return, rather than, … [Read more...]
Note: We regularly update this article with the latest data on superannuation funds issued by the Australian Prudential Regulation Authority (APRA). This article contains the latest data available as of May 2013 (for data as at March 2013). Unless you work in the superannuation industry, how the … [Read more...]
Note: This article is regularly updated with new figures (in particular the effects of Age Pension changes), to allow readers to compare what a $1 million retirement can deliver if retirement savings are invested with returns of 7% each year, or if invested on retirement with returns of 5% a year. … [Read more...]
Note: This article is updated regularly with the latest lifestyle/income data. The most recent data was released in May 2013 (for lifestyle costs as at March 2013), and includes Age Pension rates effective from March 2013 (until September 2013). Due to reader demand and the current market … [Read more...]
Note: This article is updated regularly with the latest lifestyle/income data, and latest Age Pension rates. The most recent data was released in May 2013 (for lifestyle costs up to March 2013) and includes March 2013 Age Pension rates (which apply until September 2013). Due to reader demand and the … [Read more...]
The federal government will be introducing a temporary concessional cap for over-60s from 1 July 2013, which will also apply to over-50s from 1 July 2014. Draft legislation has been prepared for this change. The government will be introducing an unindexed cap of $35,000 for over 60s (from 1 July … [Read more...]
Q: Do you need to be 60 at July 1 or could you turn 60 any time in 2013/2014 to take advantage of the new $35,000 cap? A: For the benefit of other readers, I will first explain the background to the new over-60s cap. On 5 April 2013, the federal government announced that it will be introducing an … [Read more...]
Note: This article explains the Superannuation Guarantee rate. If you’re seeking information on other superannuation rates and thresholds see SuperGuide article Super rates and thresholds for the 2012/2013 year. In the 2013 Federal Budget papers, the planned increase in Superannuation … [Read more...]
