Super funds of the year, Cheapest super insurance, Manage your own SMSF, Spending in retirement, Work Bonus, My Aged Care
Highlights of the latest SuperGuide Premium newsletter include:
- SUPER FUNDS OF THE YEAR: In the last few weeks, SuperRatings and SelectingSuper have both announced the winners of their Fund of the Year Awards. Did your super fund, pension fund or insurer take a gong?
- SUPER INNOVATION: Barbara Drury discovers some of the leading super fund innovations over the past year, while Janine Mace highlights ways that the ATO’s MyGov is adding innovative features to help you master your super.
- MANAGING YOUR OWN SMSF: What does it take to be your own accountant for your SMSF? And how should you record minutes of decisions made? We also look at ASIC’s recent report to investigate what the average annual costs for SMSFs are, and how much time they take to manage.
- INSURANCE: Which funds have the lowest fees for combined life and TPD insurance and for income protection insurance? We also cover the insurance rules for SMSFs, while Daniel Herborn provides a special report on the long processing times for group insurance claimants.
- RETIREMENT PLANNING: The Institute of Actuaries have devised a new rule of thumb for spending in retirement. And how reliable are retirement forecasts anyway?
- AGED CARE: The Royal Commission provided its interim report with recommendations on three areas of immediate action; the government may be announcing more home care packages before Christmas; and Bina Brown gives a valuable introduction to My Aged Care.
US investment giant sets its sight on Australian super, AFCA’s comparative reporting tool launches, ASIC flags potential downsides of SMSFs, Australian financial institutions at risk of cyberattack and SMSF couples track well against lifestyle goals.Read more
In the last few weeks SuperRatings and SelectingSuper have announced the winners of their Fund of the Year Awards.Read more
Innovation in super: Technology used to engage members but retirement income products the next frontier
While the big funds absorb recent legislation, some noteworthy innovation is coming from entrepreneurial outsiders hungry for a slice of that $2.9 trillion pie. We look at some of the leading innovations over the past year and what they tell us about where super is headed.Read more
As part of ongoing improvements by the ATO, members of most super funds can access additional online information about their super accounts. Find out what information is available and how you can use it to better manage your super savings.Read more
If you have an issue with your super fund, there are steps you can take that will lead to the best chance of resolution.Read more
Nobody likes paying fees, particularly when you can’t see what you’re paying for. So when it comes to your super fund, it’s worth learning a bit more about the fees you’re paying and why.Read more
Super funds rose for the third straight month in June, making a 6.5% comeback from the COVID cliff the previous quarter. By the end of the financial year, most funds ended up near where they started with some funds managing a modest positive return. All in all, that’s a good outcome from one of the most turbulent financial years in the past century.Read more
If you have a reasonable knowledge of accounting and administration software, you might want to handle your own SMSF accounts. We look at what’s involved to give you a better idea if it’s for you.Read more
There’s debate in the SMSF sector as industry stalwarts question figures published by ASIC that suggest it costs $13,900 a year to run a DIY fund.Read more
Part of the responsibilities of being a trustee for your self-managed superannuation fund include taking and keeping trustee minutes that keep a record of all major decisions made by the fund. So what exactly needs to be minuted and what should it look like?Read more
If you’re selling a small business, you’ll need to know what the small business retirement exemption is, whether you’re eligible and how you claim it.Read more
Capital gains and their potential tax liabilities need to be an important part of investment decision making for an SMSF. Careful consideration and planning of when capital gains, and losses, may be realised can have a significant impact on an SMSF’s balance.Read more
Despite concerns that life insurance premiums inside superannuation are set to rise as a result of new legislation making insurance opt-in for members under 25, inactive accounts and balances below $6,000, there is little sign of this happening.Read more
Paying too much for Income Protection insurance inside your super fund can cost you dearly, eating into your retirement savings without necessarily improving your cover.Read more
SMSF trustees need to assess whether each member of their fund has an appropriate level of insurance. In this article we look at whether there are benefits having insurance inside your SMSF rather outside your super fund.Read more
Many Australians are still stuck in insurance processing hell.Read more
An Institute of Actuaries working group has devised a simple rule of thumb for spending in retirement, based on your age and assets.Read more
Many super funds provide a retirement estimate to help you work out how you’re tracking when it comes to your likely retirement income. But how do funds calculate their estimate and is it accurate?Read more
The Work Bonus is an incentive to keep pensioners in the workforce. Find out whether you’re eligible for this fortnightly boost to your pension.Read more
On 1 July 2017, the transfer balance cap was introduced for Australians in retirement. Find out how it works and whether it impacts you.Read more
If meeting your retirement expenses is proving difficult, reverse mortgages are available to people aged 60 and over. We take a look at some of the benefits and drawbacks of this complex financial product.Read more
Along with planning and saving for retirement, it pays to prepare your relationship for the changes ahead.Read more
If you or a loved one are entering the aged care system, My Aged Care may be your first port of call. Find out what you need to do and what services are available at home or within an aged care facility.Read more
The government has announced a $537 million package for aged care in response to the damning interim findings of the royal commission.Read more
The aged care royal commission’s 3 areas of immediate action are worthy, but won’t fix a broken system
After many months of hearings across the country, the Royal Commission into Aged Care Quality and Safety has published its interim report.Read more