On 22 March 2020 the federal government announced a temporary measure allowing individuals to access up to $10,000 of their superannuation in 2019/20 and a further $10,000 in 2020/21.
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Accessing super early due to severe financial hardship is possible under Australian law, provided that you meet strict eligibility conditions and your super fund allows it.
Learn more about accessing super early in the following SuperGuide articles:
Learn the rules for accessing your super early on compassionate grounds, including for paying your mortgage if you are at risk of losing your home.
To legally access your super in Australia you must satisfy a condition of release. Different conditions of release have different payment conditions and tax implications.
Learn more about preservation age in the following SuperGuide articles:
On 22 March 2020 the Federal Government announced that the minimum pension drawdown rates would be halved for the 2019/20 and 2020/21 financial years.
Learn more about retirement planning in the following SuperGuide articles:
Learn more about retirement strategies in the following SuperGuide articles:
Learn more about SMSF pensions in the following SuperGuide articles:
In this article we detail how the Age Pension is assessed, how the income and assets tests work, and illustrate with case studies for a Single and a Couple.
Learn more about the Age Pension in the following SuperGuide articles:
When you retire, how you put your investment portfolio together is more important than ever if you want your retirement savings to last as long as you do.
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An Institute of Actuaries working group has devised a simple rule of thumb for spending in retirement, based on your age and assets.
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On 22 March 2020 the Federal government announced that from 1 May 2020 the deeming rates would be lowered to 0.25% (lower rate) and 2.25% (upper rate).
Our Age Pension calculator gives you an indication of potential Age Pension entitlements. The Age Pension rates are those that apply from 20 March 2020 to 19 September 2020.
Learn more about retirement calculators and reckoners in the following SuperGuide articles:
Age Pension rates increased on 20 March 2020. This article also explains how the Age Pension works, and includes the latest Age Pension rates for residents, non-residents, and the transitional Age Pension.
Learn more about the latest super and retirement changes in the following SuperGuide articles:
This article details the rules of the Age Pension assets test (how much your savings and other assets are worth), which is one half of the means test (along with the income test) that determines how much Age Pension you could be eligible for.
Most Australians are worried about outliving their retirement savings, with pre-retirees the most concerned. But there are some simple steps you can take to help you worry less and sleep a little better.
When it comes to investing your super, working out what mix of assets to use is tricky. But new research shows there are important issues to remember when selecting your mix of investment assets.
Although building your super account balance is a good idea, the current Age Pension and super system rules can create a black hole for some people – leaving them better off with less money in their super account. Could you be at risk?