THE SOAPBOX: Sneaky sneaky – no indexation in co-contribution income threshold for 2 years
Although superannuation savers have generally done well from the Federal Government’s Henry Tax Review announcements, and the May 2010 Budget, hidden away in the detail of the Budget announcements is a shocker.
Over-50s contributions cap of $50,000 now permanent, for some
I have some more good super news for super savers from the Government’s response to the Henry Tax Review. Australians aged 50 or over retain the $50,000 cap for concessional (before-tax) contributions, subject to satisfying certain conditions.
Superannuation Guarantee now fairer to older workers
In the recent past, SuperGuide has made a lot noise about the inequity of the SG rules for older workers. When you choose to work beyond the age of 69 you miss out on Superannuation Guarantee (SG) contributions. In other words, by working longer, older workers effectively took a pay cut.
Preservation age: I’m 58. Can I withdraw my super benefits?
Q: Can you please tell me whether I can withdraw my super benefits when I retire at age 58? This answer assumes that your super benefits are preserved, and the answer to your question depends on your date of birth.
THE SOAPBOX: The 25-year super war
Consumers don’t matter. They really don’t. In case you thought superannuation was about the fund members and that the 9% Superannuation Guarantee was all about your retirement savings, then think again. In the heat of the battle, sometimes civilians get [...]
Super for beginners, part 4: My son’s super account is bleeding fees
Q: Hi, I am inquiring on behalf of my son who is unable to work at this stage of his life. It has been three years since he worked. He doesn’t have much in the fund and it is going [...]
THE SOAPBOX: Trish’s four lessons from the GFC (Grab-For-Cash)
I was holidaying in Europe when the Global Financial Crisis (GFC) officially hit in October 2008 (although investment markets had been falling dramatically since December 2007). The impact of the GFC saw the United Kingdom bail out its major banks. [...]
Does changing to part-time at 60 count as ‘retiring’?
Question: I am 60. I am interested in the condition of release relating to turning 60 and resigning. Is it sufficient to satisfy the ’60 and resign’ condition of release by changing my employment arrangement from full-time to part-time? Answer: [...]
THE SOAPBOX: Women and carers ignored by super law-makers
I first wrote about the unfairness of Australia’s super system for most women in the Melbourne Age in July 2007. Incredibly, nothing has changed during the past two years. In the hope that those reviewing the super system (see article, [...]
Why women have to save more in super
Women are disadvantaged because superannuation policies are linked to time in the workplace. The co-contribution scheme should be available to stay-at-home mums and full-time carers.
