Retirees bullied and betrayed, Women and super, Financial advice, New Age Pension rates, Insurance in super
Highlights of the March 2019 edition of the SuperGuide Premium newsletter include:
- BULLYING AND BETRAYAL OF RETIREES: As we prepare for the forthcoming Federal Election, Sean Corbett reminds us how Australian retirees have been repeatedly let down and demonised by politicians on all sides.
- FINANCIAL ADVICE: The Royal Commission uncovered advice horror stories and made strong recommendations about how the industry must improve. We look at the risks and benefits of financial advice, how to find a suitable adviser, how much financial advice costs, and how you can find free or low-cost advice. One of Kenneth Hayne’s recommendations was that non-independent advisers need to disclose their lack of independence. Daniel Brammall helps us to identify what makes a financial adviser independent, and we list 129 independent advisers who operate in Australia.
- AGE PENSION: The Age Pension rates increase on 20th March. Find out the latest rates and thresholds, or use our calculator to find out how much you could be eligible for. Age Pension expert Regan Welburn also provides handy case studies to illustrate how the Age Pension is assessed, and a step-by-step guide to applying for the Age Pension, avoiding the common mistakes, and getting it right the first time.
- INSURANCE AND SUPER: Have you considered your insurance needs lately? In a suite of articles we look at how insurance operates inside super, and investigate life insurance, TPD insurance and income protection insurance in depth. Learn about the pros, the cons and the strategies you can consider.
- WOMEN AND SUPER: Women have the odds stacked against them when saving for retirement. They earn less, have more time out of the workforce, and live longer. However women do have Barbara Drury on their side, with some super strategies for women at different stages of life.
- SMSF LUMP SUM WITHDRAWAL RULES: Penny Pryor details the rules and tax implications for withdrawing lump sums from SMSFs, provides case studies to illustrate how the rules work, and reminds us about what you should consider if you have started a pension or are claiming the Age Pension.
- INDUSTRY FUNDS VS RETAIL FUNDS: The pain from Hayne continues for retail funds. Recent statistics show they now lag behind industry funds in assets under management, customer satisfaction and investment performance.
- LATEST SUPER RETURNS: 2019 has had a strong start with median growth fund gains of 2.7% in February and 2.5% in January. Learn more in our performance articles at the bottom of the email.
2019 FEDERAL BUDGET SPECIAL
This year the Federal Budget will be announced a month earlier – on Tuesday 2nd April. We will provide insights into the announcements affecting super, tax and retirement planning. Watch out for a Budget special newsletter early on April 3rd.
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Age Pension rates increase on 20 March 2024. 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.
Our Age Pension calculator gives you an estimate of your potential Age Pension entitlements for the period 20 September 2023 to 19 March 2024.
This article details the rules and limits 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.
A common question for those nearing or in retirement is “How much can a pensioner earn before it affects the pension?”.
This article is a step-by-step guide to claiming the Age Pension and getting it right the first time so you can avoid any delays or frustration.
The amount you and your partner have in super can have a big impact on your Age Pension entitlements. We explain how.
INSURANCE AND SUPER
If you have insurance inside super but you’re not sure how it works, it’s easy to take control once you learn the basics and how to assess your needs.
Holding death cover through your super fund can be a costeffective way to protect your family and financial dependents and to help pay off your debts if you die.
TPD cover is a valuable benefit often provided as part of your insurance cover inside super. But there are important differences between funds, so ensure you check out the details.
Income protection insurance through your super fund can be invaluable for paying the bills if you can’t work temporarily. But it’s important to understand exactly how these policies work.
LATEST SUPER RETURNS
Super funds continued their winning streak in January, with the median Growth fund up 1% over the month.
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.