Labor’s super plans, Super wish list, Best super funds, SMSF cybersecurity threats, Outliving your retirement savings, Age Pension taper trap, Super pension top-ups.
Highlights of the June 2022 edition of the SuperGuide Premium newsletter include:
- SOFTLY SOFTLY FOR SUPER: New financial services minister, Stephen Jones talks to SuperGuide about his ‘’no shocks” super and financial advice agenda
- THE SUPER FIX: From better retirement products to closing the super gender gap, here’s what industry experts think the Albanese Government should do next
- TOP FUNDS OF 2022: UniSuper has won the coveted super fund of the year award, from a field of award-winning funds
- CYBERSECURITY CHECKLIST: With online scams on the rise, we’ve devised a questionnaire to keep your SMSF safe from harm
- WORRIED ABOUT OUTLIVING YOUR SAVINGS? Read our 9-step plan to relieve those retirement income blues
- MIND THE RETIREMENT TRAP: The Age Pension taper rate creates a not-so-sweet spot where more super means less retirement income
- TIME FOR A LATE TOP-UP: New rules allow super pensioners to add to their super but watch how you go about it
HOW SUPER WORKS
Minister promises no more regulatory shock for super
In an exclusive interview the Assistant Treasurer and Minister for Financial Services, Stephen Jones, has promised no more “regulatory shock” for the superannuation sector.
What should the federal government’s super and retirement planning priorities be?
As we see the dawn of a new government, we asked some of Australia’s top experts in superannuation and retirement planning what they think the government should be focusing on.
Super news for June 2022
Superannuation assets rise by nearly 10% over the year, Mercer to acquire BT Super, inflation hits retirees, super fund customer satisfaction awards, new super fund mergers announced.
How to read a super fund PDS
Are you and your super fund a perfect match? All will be revealed in your fund’s product disclosure statement.
What to teach your (big) kids about super
If your kids are old enough to have scored their first fulltime or part-time job, now’s the time to pass on everything you wish you’d known about super at their age.
Quiz: Super for beginners
Does super bamboozle you? Take this quick quiz to learn some of the super fundamentals.
SUPER FUNDS
Super funds of the year awards: Best super funds for 2024
UniSuper continued its award-winning run, winning Fund of the Year for the eighth time in a little over a decade at the recent SuperRatings awards night.
Pension funds of the year 2023–24: What makes a winner?
Innovation has been slow at the retirement end of superannuation, which makes it even more important to search for a pension fund that will make your retirement as smooth as possible. Awards aren’t everything, but they do put a spotlight on industry best practice.
Members benefit from more superannuation board diversity
More women and people of diverse backgrounds on superannuation fund boards should translate to better outcomes for members.
Super fund performance: Monthly returns to March 2024
Super funds continued their positive run in March, with the median Growth fund up 1.9% over the month.
SMSFs
How to boost your SMSFs immunity to cybersecurity threats
Keeping yourself and your SMSF safe online is critical these days. So take our SMSF cybersecurity questionnaire to make sure you’re covering all bases.
Non-arm’s length expenditure: NALE
Don’t know your NALE from your NALI? Failure to attend to both can lead to some gnarly tax outcomes.
Member direct vs SMSFs
Many large superannuation funds now offer a member direct option which can be a good training ground for anyone considering an SMSF.
How to avoid getting caught in the in-house asset trap
Getting in-house asset rules wrong could cost you and your SMSF thousands of dollars but they continue to be one of the most common contraventions made by trustees.
RETIREMENT PLANNING
Worried about outliving your retirement savings? 9 steps that can help
Worrying about whether your retirement savings will be enough is normal, but there are some easy steps you can take to ensure you’re as prepared as you can be for retirement.
The taper trap: Super and the Age Pension means test
The way super intersects with the Age Pension has a big impact on retirees with ‘middling’ super balances, but it’s important not to fixate on short-term pension entitlements at the expense of long-term financial security.
Why it can pay to put as much as possible into super
If your super balance is underwhelming, even small personal contributions can supercharge your retirement savings once compound interest and tax do the heavy lifting.
Case study: Combining downsizer and non-concessional contributions
New rules from 1 July will potentially allow older Australians to bring forward the sale of their home and get two bites of the super contributions cherry.
How much can I afford to spend in retirement?
It’s a common question, but the answer to your optimum pension drawdown may be as simple as spend your age.
IN RETIREMENT
How can I top up my super pension?
New rules will allow older people to add to their super without meeting the work test but thought needs to be given to how those contributions are made.
Case study: Recontribution of death benefits?
When an older person inherits their spouse’s super, decisions need to be made about the best way to hold the funds. New super rules offer increased choices.
Shift changes threaten home care help
Changes to minimum shifts for home care workers could make it more difficult for elderly clients to make their funding packages cover the care they need.
How to create an investment portfolio in retirement
By the time you retire you may think you know a thing or two about investing. But retirement raises new challenges, especially when it comes to structuring your income.
Are pension withdrawal rates safe?
Retirees often withdraw the minimum amount from their super pension for fear they will outlive their savings. But recent studies show many could safely spend more. So what is a ‘’safe” withdrawal rate?