How do we retire if we’re not employed?
We do not intend to work again and would like to take a pension from our SMSF. Is this intention sufficient? We cannot retire from gainful employment because we do not have any.
I’m 60 and not working. Can I access my super?
Q: Hi, I have recently turned 60 and I would like to access my super. I have not worked mid July 2011. Is there any reason why I would not be able to withdraw on my super? I have not been getting unemployment benefits.
If I’ve reached preservation age can I claim my super?
Q: If you are living in New Zealand and you have super which has been sent to the ATO, and you have reached your preservation age, and you have retired, is there any reason you would not be able to claim your super directly from the ATO?
Can we run our business overseas if we are ‘retired’?
Does it affect our “retired” status for superannuation if we are running our own business overseas which has no connection at all to Australia?
Turning 55: Taking super, tax and timing
Q: If at 55, I take up to $150,000 out of my super as a lump sum tax free, when I turn 60 will I be able to draw down as a lump sum the rest of my super tax free? For an individual to access preserved super benefits they must satisfy a condition of release…
Tax on super payout
An individual can only access super benefits if they reach preservation age (currently 55) AND retire. If they don’t fall into this category then they must satisfy another condition of release to access super benefits.
Retirement planning in six steps
Retirement planning can be compared to planning for a dream holiday – your trip may have an exciting destination but the steps you need to take to ensure you get to your desired location safely, and within your budget, can sometimes be tricky.
A comfortable retirement: How much super is enough?
So, the big question is: how much money do you really need for your retirement? Lifestyle is a very personal thing —luxury living for one person is a modest existence for someone else.
Setting a retirement target: Living on more than $55,000
The most popular question about superannuation and retirement planning is, without doubt: How much money is enough?
I’m 67. Can I access my super and continue working?
Q: I am going to be 67 yrs this year and still working as a security guard. I would like to continue in employment for as long as possible. I have about $84,000 in super contributions – can I access $80,000 to put on the mortgage of our house and still continue working?
Accessing super early on compassionate grounds
From 1 November 2011, any Australian applying to access super benefits early on compassionate grounds must apply to the DHS rather than APRA. I explain what ‘compassionate grounds’ means later in the article.
