Super and pension fund rankings, Super rules for all ages, Super tips for EOFY, SMSF Q&As with the ATO, Looking beyond dividends for income, ‘Safe’ pension withdrawal rates
Highlights of the May 2020 edition of the SuperGuide Premium newsletter include:
- SUPER FUND RETURNS FOR APRIL: After a dismal February and March, super fund returns staged a partial rebound in April. While funds are still on course for a negative return this financial year, the damage may not be as bad as many feared.
- TOP SUPER AND PENSION FUNDS: Have you been wondering how your super is doing compared with other funds? Well now you can find out thanks to our fund rankings by quartile performance over various time frames.
- ACT YOUR AGE: The way you interact with your super will depend in part on your age and stage of life. So we have pulled together the rules that apply to you each decade from your teens to your 70s, and how to make the most of them.
- EOFY SUPER TIPS: It’s been an extraordinary year, leaving some people with savings to invest and others with a cash shortfall to cover. So this year it’s more important than ever to do a super and tax stocktake ahead of June 30.
- SMSF Q&As WITH THE ATO: Dana Fleming, Assistant Commissioner of the SMSF Segment at the ATO answers questions from SuperGuide readers about COVID-19 issues, including early release of super process, providing rental concessions for tenants and the change to the minimum pension drawdown rates.
- THE SEARCH FOR INCOME: First it was record-low interest rates. Now the big banks and other companies are cutting dividends. Where can investors turn for income? We uncover some alternatives.
- WHAT IS A SAFE PENSION WITHDRAWAL RATE: The government has temporarily halved minimum pension withdrawal rates in response to the impact of the coronavirus on super pension account balances. But are our minimum withdrawal rates sustainable? We cover the debate over ‘safe’ withdrawal rates.
FUND PERFORMANCE
Super and pension fund performance: Where does your fund rank?
Now updated to 30 September 2020. Have you ever looked at your super fund’s investment returns and thought “that looks pretty good”, or “that’s disappointing’’, and wondered how your fund compares with similar funds? Is it a consistently high performer or an inveterate underachiever?
Read moreBest performing super funds: All Growth category (96–100%)
In this article you can discover the top 10 performing All Growth super funds over 1 year and 10 years to 31 December 2020. All Growth funds have 96-100% invested in growth assets.
Read moreBest performing pension funds: Balanced category (41–60%)
In this article you can discover the top 10 performing Balanced pension funds over 1 year and 10 years to 31 December 2020. Balanced funds have 41-60% invested in growth assets.
Read moreSunsuper named Chant West Super Fund of the Year
It was fitting that sustainability and a focus on the long term were the focus of this year’s Chant West Super Fund of the Year Awards.
Read moreSuper fund performance: Monthly returns to March 2021
Super funds continued their phoenix-like rise from the COVID ashes in March, with the median Growth fund up 1.9% for the month and an extraordinary 12.2% for the first 9 months of the financial year.
Read moreWhat are lifecycle super funds, and how do they perform?
The surprisingly strong share market rally from April through to August resulted in strong positive returns for all Lifecycle cohorts during that period.
Read moreSUPER RULES BY AGE
In your teens? The super rules that apply to you
When you’re in your teens you are new to the super system, so it’s important to learn how much and when you can contribute and when you can get your hands on your savings.
Read moreIn your 20s, 30s or 40s? The super rules that apply to you
In the early to mid stages of your working life you need to pay attention to your super to ensure it’s growing steadily. But you also need to know the rules about making contributions and withdrawals.
Read moreIn your 50s? The super rules that apply to you
When you get to your 50s, you should be paying a lot more attention to your super savings. So you need to know all the rules about making contributions and withdrawing money from your account.
Read moreIn your 60s? The super rules that apply to you
Once you reach age 60, the rules of the super system change, so it’s important to know all the rules governing when you can make contributions and withdraw money from your account.
Read moreIn your 70s? The super rules that apply to you
Once you reach age 70, your ability to make contributions into your super account is limited, so it’s important to ensure you know all the rules governing when you can make contributions and withdraw money.
Read moreSUPERANNUATION
10 EOFY housekeeping tips for your super
This financial year is like no other, but that doesn’t mean you should forget how important it is to get your super and tax affairs ready for 30 June. Here are our top 10 super tips for this EOFY.
Read moreSuper news for May 2020
Access to early super resumes, ASIC defers mortgage broker reforms, Royal Commission calls for submissions on COVID-19, ASIC warns against day trading, SMSF annual returns deferred, Older Australians see silver lining.
Read moreThe Superannuation Standard Choice Form explained
If you want to exercise your right to choose a super fund, you must complete the Standard Choice Form that your employer gives you, and return it to your employer.
Read moreWhich super funds accept transfers from KiwiSaver accounts?
If you have savings in a KiwiSaver account, you can voluntarily transfer them to an Australian super fund under the provisions of a Trans-Tasman Retirement Savings Portability scheme that was introduced on 1 July 2013.
Read moreHow do I transfer a UK pension to an Australian super fund?
If you’re thinking of transferring a UK pension into an Australian super fund, the process has become much more difficult in recent years, but not impossible.
Read moreSMSFs
SMSF Q&As with the ATO: COVID-19 special
Dana Fleming, Assistant Commissioner of the SMSF Segment at the ATO, provides useful insights for SMSF trustees about current issues such as the early release of super process, providing rental concessions for tenants and the change to the minimum pension drawdown rates.
Read moreEverything SMSF trustees need to know about rebalancing
Market volatility should prompt a look at asset allocations and the potential need to rebalance investments.
Read moreTime in the market not timing the market
When markets fall by as much, and as quickly, as they have recently, it’s easy to conclude that it’s time to move all your assets into a safer haven.
Read moreDoes a core and satellite strategy still work? Two perspectives…
A core and satellite asset allocation strategy is one of the most popular ways to invest. But does it still make sense when markets are falling?
Read moreIncome alternatives to bank shares
Self-managed super fund (SMSF) investors were left reeling after three of the big four banks slashed dividends across the board, with ANZ and Westpac suspending theirs altogether and NAB cutting its by 64%. CBA has said it won’t make a final decision on its dividend until August when it reports its full year results.
Read moreBank dividends are bare. Here’s why some shareholders hate it more than they should
In bad news for retirees and others who depend on dividend cheques (and dividend imputation rebate cheques from the Tax Office) bank dividends have largely evaporated. But it’s not as bad as many commentators suggest, and actually good for some investors.
Read moreIN RETIREMENT
Rules of Thumb: Do these popular retirement planning hacks measure up?
When it comes to retirement planning and superannuation there is a lot of uncertainty; how long you will live, how much income you will need, what the markets will do and how long your savings will last.
Read moreAre pension withdrawal rates safe?
In a low interest rate environment, debate has been sparked about whether ‘safe’ pension withdrawal rates are still safe. With the economic impact of the coronavirus also putting pressure on share prices and dividend payments, the issue is more topical than ever.
Read moreWhat are the 3 stages of ageing?
In this video interview David Williams from My Longevity talks about the 3 stages of ageing, and how long each stage generally lasts.
Read moreWorking in retirement: Busting the age barrier
Whether by choice or necessity, more Australians are embracing working for longer. Yet there are obstacles to overcome when you’re looking for work in your 50s and older.
Read moreSmashing senior stereotypes
As people live longer, mature age is being redefined. Far from viewing retirement as the final curtain call, a growing number of retirees see the milestone as the start of something new. It’s a chance to explore the world, pursue an adventure, learn new skills, graduate from university and celebrate the best of a whole new life stage.
Read more