On 5 April 2013, federal treasurer Wayne Swan, and Minister for financial services and superannuation, Bill Shorten announced a bucket of changes to the existing super arrangements. This article is a summary of the announced changes, and you can find more detail on the proposed changes in separate … [Read more...]
If you have less than $1000 in your super account, or you have children or grandchildren with part-time jobs (or starting their first full-time job), then you will be very interested in this article. From 1 July 2013, the Federal Government is abolishing the ‘member protection’ rule which … [Read more...]
Note: This article is updated each year to reflect the latest APRA performance data for Australia’s largest 200 super funds. The latest data was released by APRA in January 2013. The next APRA report is expected to be released in the first quarter of 2014. The Australian Prudential Regulation … [Read more...]
SuperGuide receives hundreds of questions every week from Australians wanting to create a better life for themselves in retirement. The types of questions we receive include: how much super should my employer contribute each year, how much money is enough, how can I work out if I am in a good super … [Read more...]
The ATO will soon enjoy a super bonanza of nearly $700 million as a result of the misfortune of those Australians who have ‘lost’ their superannuation through lack of action or ignorance, according to the Federal Government’s 2012/2013 Mid-Year Economic and Fiscal Outlook (MYEFO). The upside … [Read more...]
Note: The Q&As listed in this article have been revamped and updated for the 2012/2013 year. One of SuperGuide’s more popular initiatives has been the development of a ‘Super for Beginners’ section that answers some of the many questions that we receive from those readers who are new to … [Read more...]
Note: This article is current for the 2012/2013 year. At the start of each financial year, SuperGuide publishes an updated super checklist for readers. Use this list as a kick-start for your 2012/2013 super resolutions. You may not keep all of your resolutions, but if you do just a handful of … [Read more...]
Q. How do I find out where my super contributions end up? What I mean is, how do I find out the name of my super fund? Your question is a popular one in Australia, even though super fund members receive member statements from their super funds every year. Know the name of your super fund If … [Read more...]
Did you know that billions of dollars is sitting in lost super accounts waiting for Australians to claim the super cash? If you change jobs regularly or you have had part-time jobs while at school or university, then it is highly likely that you have more than one super account. On average, every … [Read more...]
Q: I'm new to Australia and I have no idea where to start with my super in order to have the best outcome 40 years from now. So far, I have had my super spread between 3 industry super funds, as organised by temp employment agencies. I know this is not the way to continue, but I am not sure who to … [Read more...]
For so many women, the needs of other people usually come first — children, partner, parents, friends and even workmates. Often, for a woman to think about her own needs, she has to face a health challenge, financial stress or a relationship breakdown. Too dramatic, perhaps? I don’t think so. … [Read more...]
Q: I worked in a company in Perth in 2000. I left that job and returned to the east coast. As it was a new company they decided to pay super after 6 months and supposedly kept the funds in an investment account until then. When I arrived in the east I sent them the name of a fund I wished to have … [Read more...]
Here’s a tip: a quick and easy way to feel instantly richer is to take the following 3 steps: Find out how much money you have sitting in your superannuation account. Locate any lost or forgotten super accounts Consolidate your super accounts, and potentially save thousands of … [Read more...]
