How lifetime income products can help reduce the ‘taper trap’ for retirees
By using a combination of super account-based pension and lifetime income product, retirees may be able to boost their Age Pension.
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By using a combination of super account-based pension and lifetime income product, retirees may be able to boost their Age Pension.
For some people, annuities can be an easy way to convert some of your super into a guaranteed income stream to cover your basic expenses in retirement.
It’s been a long time coming, but super funds are beginning to offer more flexible pension products offering income for life.
Changes to the means testing of lifetime annuities have changed potential Age Pension entitlements for retirees who purchased their annuity before or after 1 July 2019.
Deferred annuities offer retirement income for life, but you need to weigh the costs and benefits of different deferral periods.
If you have good genes and modest savings, then it may be worth considering a deferred annuity as part of your retirement income plan.
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