A recent paper by advocacy group, Save Our Super, originally produced for SuperGuide, has uncovered financially devastating repercussions for Australia because of harsh Age Pension and superannuation policies made in haste and with hubris, and implemented with gusto by Federal Treasurer, Scott Morrison.Treasurer ... Read more
Retirement planning
Retirement planning covers topics such as how much superannuation is enough, taking a super pension, claiming the Age Pension, making superannuation contributions while receiving a pension from a super fund, estate planning and looking after your family.
Below are some of our key Retirement Planning articles:
Set out below are all SuperGuide articles referring to Retirement planning.
Retirement income and savings trap: 13 findings from Save Our Super’s paper
For a couple who own their home, the retirement savings ‘sweet spot’ target should be $400,000, to ensure maximum income (utilising super savings and Age Pension entitlements under the 2017 changes), according to a paper written by advocacy group, Save Our Super.Only when superannuation savings increase to ... Read more
Retirement income and savings trap caused by Coalition’s 2017 superannuation and Age Pension changes
Note: SuperGuide has invited advocacy group, Save Our Super, to highlight the immediate and long-term implications of the federal government’s latest changes to super and the Age Pension. The authors of this article, Jack Hammond, founder of Save Our Super, and Terrence (Terry) O’Brien, a retired Treasury official, ... Read more
No rest for SMSF trustees: 10 jobs for life after 1 July 2017
Although most SMSFs trustees have had a busy time preparing for the arrival of the new super system rules on 1 July 2017, the upcoming financial year will not be a time to kick back and forget about your SMSF.In fact, the new regime will usher in a number of fresh challenges that are likely to keep SMSF trustees up ... Read more
Boost your spouse’s retirement kitty: 10 things you need to know
These days it’s rare for a government to be more generous about handing out benefits, but when it comes to helping boost your spouse’s super, that infrequent event is set to happen.From 1 July 2017, the maximum income threshold for the spouse contributions tax offset jumps from its current measly upper limit of ... Read more
Age Pension age increases to 65.5 years from July 2017
From 1 July 2017, the Age Pension age effectively increases to 65.5 years (from its current 65 years) until it reaches age 67 from July 2023. Your Age Pension age is the age at which you are eligible to apply for the Age Pension, and this will depend on your date of birth.Australian residents born on or after 1 ... Read more
Super concessional (before-tax) contributions: 2017/2018 survival guide
Note: This article explains the rules applicable to concessional contributions for the 2017/2018 year, and also explains the rules applicable for the 2016/2017 year. You can also find information about the lower concessional cap, effective from 1 July 2017, see SuperGuide article Concessional contributions caps to be ... Read more
Your 2017/2018 guide to non-concessional (after-tax) contributions
Note: This article explains the rules applicable to non-concessional contributions for the 2017/2018 year, and explains the rules applicable for the 2016/2017 year. You can also find information about the lower non-concessional cap, effective from 1 July 2017, in SuperGuide article New $100,000 cap: Cut to ... Read more
Cashing in on the co-contribution rules (2017/2018 year)
Note: This article explains the co-contribution rules for the 2017/2018 and 2016/2017 years (and later in the article, also for the 2015/2016, 2014/2015, 2013/2014, 2012/2013 and 2011/2012 years).The federal government is giving away money to anyone who makes a non-concessional (after-tax) contribution to their ... Read more
Do I have to be working to make super contributions?
The answer is no, if you’re under the age of 65. An Australian under the age of 65 can make super contributions whether they are working, rearing children, looking after a sick partner, recovering from illness or on an extended holiday.If you are aged 65 or over then you must satisfy a work test if you’re seeking ... Read more
I’m retired. Can I make super contributions?
Q: If I have retired from work and later on inherit a reasonable sum of cash, can I make a non-concessional contribution into my superannuation fund? OR is that only permitted while I am working, regardless of my age?A: For the benefit of other readers, I will first explain the meaning of a non-concessional ... Read more
Superannuation rates and thresholds for 2017/2018 and 2016/2017 years
Note: The article lists the latest superannuation rates and thresholds for the 2017/2018 year, for the 2016/2017 year, and also for earlier financial years.One of the most searched-for superannuation thresholds is the concessional contributions cap for the latest financial year. For the 2017/2018 year (1 July 2017 ... Read more
