Government ponders more super changes, Age Pension freeze, Affordable financial advice, Super returns continue positive run, Super funds take climate action
Highlights of the September 2020 edition of the SuperGuide Premium newsletter include:
- AGE PENSION INCREASE ON HOLD: There will be no September rise in the Age Pension for the first time in 23 years, but increased asset and income thresholds give some part-pensioners a lift.
- IS SUPER IN FOR ANOTHER SHAKE-UP? Senator Jane Hume discusses early release, her ambivalence about the planned SG increase, and how to close the super gender gap.
- SUPER RETURNS KEEP ON COMING: Buoyant share markets lifted super fund returns in August, but can this five-month winning streak continue?
- DEMAND SOARS FOR AFFORDABLE ADVICE: As the shake-up in financial advice gathers pace, super funds are moving in to meet the demand.
- CLIMATE-PROOFING SUPER INVESTMENT RETURNS: More funds are signing up to dial down their financial exposure to climate risk.
- SMSFs TAKING CONTROL OF THEIR FUNDS: Managed accounts offer greater control, flexibility and tax benefits than traditional managed funds, tempting more SMSFs to make the switch.
SUPER NEWS
Super news for September 2020
Early release super scheme hurts the young and low paid, ‘Herstory’ of superannuation, Confusion about ESG and super caps and Increased appetite for financial advice.
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SUPER FUNDS
Super fund performance: Monthly returns to February 2024
Super funds continued their winning streak in February on positive economic news, despite concerns that markets appear fully valued.
What are lifecycle super funds, and how do they perform?
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.
10 points to check on your annual super fund statement
Take the time to get familiar with your annual member statement it to make sure your account is tailored to your needs and your fund is working hard for you.
Selecting your super fund: Can I make the choice?
Most Australians can choose which super fund they want their employer’s super contributions paid into, but there are exceptions. We explain who is, and is not, free to choose and how to go about it.
SUPER GUARANTEE
Superannuation Guarantee contributions rate and rules
With Super Guarantee (SG) contribution rates changing again, it pays to understand the rules and the rate your employer is required to pay in 2022-23.
What to do if your employer doesn’t pay your super
Chasing your unpaid super contributions can be difficult but there are things you can do to get the money you’re owed and ensure your super account keeps growing.
How the Division 293 tax works: Super surcharge for high earners
High-income earners pay extra tax on their concessional super contributions, so it’s important to understand the rules.
What is the maximum super contribution base?
High-income earners face a quarterly cap on the amount of income on which their employer must make SG contributions. Here’s the limit for 2022-23.
AGE PENSION
Note: There are no changes to Age Pension rates or the assets test or income test thresholds this September, but there are still opportunities for you to maximise your Age Pension entitlement and learn more about how the Age Pension is assessed.
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How to maximise your Age Pension
If you receive a part-Age Pension or none at all due to the level of your assets or income, these 12 strategies may help you increase your pension entitlements.
Am I eligible for the Age Pension?
A common question for Australians planning their retirement is if, and when, they will be eligible for the Age Pension.
FINANCIAL ADVICE
Financial advice through super funds: What’s on offer?
Super funds have been expanding their financial advice services to members, but it’s important to understand the different levels of advice on offer, how it’s provided and paid for.
SMSFs and financial advice: A matter of cost and trust
The number of SMSF trustees who have unmet advice needs is growing, but upcoming reforms and new technology offer the prospect of improved affordability and access.
Can I get free financial advice?
The best things in life are free, but is financial advice one of them? Find out the possibilities.
SMSFs
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Video: Pros and cons of SMSFs
Tracey Spicer talks to Deborah Kent from Integra Financial Services about the pros and cons of SMSFs, and how ethical investing is becoming more popular.
IN RETIREMENT
How the Home Equity Access Scheme works (formerly Pension Loan Scheme)
The Home Equity Access Scheme can be a great way to boost your retirement income by taking a loan from the government against the equity in your home.
What government services are available for older Australians?
With the cost of living on the rise, it’s worth making the most of the government discounts and services for older Australians in your state or territory.