Transfer Balance Cap set to rise, Industry funds maintain their lead, COVID relief for SMSFs, Write your own retirement plan, Age Pension increase, New Age Pension eBook.
Highlights of the March 2021 edition of the SuperGuide Premium newsletter include:
- LIFTING THE LID ON THE TRANSFER BALANCE CAP. From 1 July you may be able to boost the amount in your super pension account. We show you how.
- INDUSTRY VS RETAIL SUPER FUNDS. After a challenging year, industry funds still lead on assets, satisfaction and performance.
- WRITE YOUR OWN RETIREMENT ROAD MAP. Retirement planning can seem complex, but it’s not rocket science if you follow these directions.
- COVID RELIEF FOR SMSF BORROWINGS. The tax office has provided guidance for SMSFs with limited recourse borrowings who took advantage of COVID relief.
- IS THAT ALL THERE IS? Age Pension rates and assets and income test limits will all rise in March, but not by much.
- NEW AGE PENSION EBOOK. If you are about to retire and think you may be eligible for the Age Pension, we’ve put everything you need to know in one easy-to-read guide.
HOW SUPER WORKS
Super caps to rise, ASIC commences civil proceedings against REST and Statewide, APRA wants super funds to lift their game on insurance, QSuper and Sunsuper merger update, Toyota Super to merge into Equipsuper, Aware Super and VISSF discuss merger, Costs rise for retirees, Three strikes and you’re out for SMSF annual returns, AMP Capital offloads some investment management capabilitiesRead more
The amount you can have in a super pension account (known as the transfer balance cap) just increased, but so did the complexity of the rules.Read more
If you have already retired, or are close to it, from 1 July 2021 you may be able to boost the amount in your tax-free super pension account.Read more
Making super contributions not only helps with saving for your retirement; it can also be a useful tool for minimising your tax bill in the right situation.Read more
Fees are important, but they are not the only thing driving superannuation’s investment returns.Read more
MySuper funds have been around since 2014, but they are undergoing change in an effort to improve investment performance and lower fees.Read more
APRA statistics released this week show retail funds have lost nearly $23 billion in value since December 2017, while over the same period industry funds grew by nearly $40 billion. This represents a change in value of assets of -6% for retail funds and +4% for industry funds.Read more
Super funds continue to produce strong returns for their members in a difficult economic climate, with the median Growth fund up 1.7% in August for a cumulative return of 2.8% in the first two months of the financial year.Read more
Answers to common questions from SMSF trustees about repayment relief for their LRBA loans.Read more
They are easy to use, cheap and growing in number. So how are SMSFs using ETFs and what’s stopping more of them from following the trend?Read more
Although it’s legal to have more than one SMSF, there are important pros and cons you need to consider before taking the plunge.Read more
Retirement planning can seem daunting, with so many things to consider. But rest assured, it doesn’t take a degree in rocket science to get your head around the key concepts.Read more
Getting high-quality independent financial advice is too important to put in the too-hard basket. These red flags will help you avoid bad advisers.Read more
Finding a truly independent financial adviser is not easy, but don’t let that put you off. We’ve done the hard work for you.Read more
Knowing what and where you will spend will make retirement planning much easier, and help you avoid retirees’ biggest fear: outliving their savings.Read more
This calculator helps you estimate how long you might live, based on the latest Life Tables from the Australian Bureau of Statistics (ABS) and the Australian Government Actuary.Read more
AGE PENSION INCREASES
Age Pension rates increase on 20 September 2021. 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.Read more
Our Age Pension calculator gives you an indication of potential Age Pension entitlements. The Age Pension rates are those that apply from 20 September 2021 to 19 March 2022.Read more
A common question for those nearing or in retirement is “How much can a pensioner earn before it affects the pension?”.Read more
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.Read more
You may be able to earn more income than you think without losing your Age Pension entitlements. We show you how.Read more
NEW: Age Pension for beginners eBook
We produced this eBook as a comprehensive starting point for readers that need to understand the essentials about how the Age Pension works. We hope you find it useful.
This is the first eBook we have put together for SuperGuide Premium subscribers. We’d really like to know what you think and if you would like us to create more. Click here to give us your feedback.