June 2021 newsletter

Pension payment relief extended for another year, Super bills pass, Retirement costs rise, March super stats show super increase, Running out of money in retirement major concern for retirees, Magellan launches fund with reserving strategy.

Proposed changes to legacy pensions will make it much easier to switch to newer, more flexible products without some of the previous hurdles and restrictions.

In a world of ever-increasing prices, the ATO’s annual SMSF supervisory levy has been unchanged for more than a decade, but an increase is on the way.

Preservation age is now 60 for everyone. Here’s what reaching it lets you do with your super, and the extra condition you’ll usually need to meet first.

Setting up an SMSF involves upfront fees, ongoing expenses and a commitment of your time. Understand the costs before deciding whether to start your own fund.

The Low Income Superannuation Tax Offset (LISTO) pays up to $500 a year into the super of people earning $37,000 or less, refunding the tax on their contributions. From 1 July 2027 the limits rise to $45,000 and $810.

Lifecycle super funds start cutting growth assets at about 50 and keep going after 65. Here’s what APRA’s June 2026 figures show they hold through your 50s and 60s, and what changes when your pension starts.

The professionals who design super defaults for 25-year-olds put a median 90% in growth assets, against 76% in a typical single strategy default, and over the past decade that gap was worth almost 1 percentage point a year.

Performance matters when you’re building a healthy super balance for your retirement, but so does the level of risk you are comfortable with along the way.

Default MySuper funds have been undergoing a makeover in recent years, with performance under the microscope and fees falling.

Lifecycle funds are designed to reduce risk as you near retirement without sacrificing returns; recent research shows many do just that but you need to know what to look for.

If your super is invested in a lifecycle fund, or you are interested in exploring your options, SuperGuide’s new lifecycle comparison tool can help.

Good advice can make a big difference to both your financial position and retirement plans, but it can be confusing to know what’s available and who to ask.

ATO focus areas for SMSFs in 2026–27, SMSF software: Better records, fewer year-end headaches, SMSF contributions reserving: How the timing strategy works, How to record SMSF minutes (with examples), Had enough of your SMSF? Your options for leaving or winding it up

You can’t choose which part of your super to withdraw. Learn how the proportioning rule sets the tax on every payment and what your adult children could pay when they inherit your super.

Starting a super pension is a big step, but the decisions you make beforehand can matter just as much as the pension you choose.

Estimate how much Total and permanent disability insurance cover you need in super to receive the lump sum you want after tax.

Contributing to a low-income spouse’s super could cut your own tax bill by up to $540. Find out who qualifies, how the offset is calculated and how to claim it.

Leaving an SMSF and winding one up are different decisions, each with its own alternatives, steps and costs to weigh before you move any money.

Current deeming rates and thresholds for the Age Pension income test. See exactly how your assets are assessed.

Staying in the workforce beyond a traditional retirement age could boost both your health and finances but it’s not all roses.