We have received many questions from readers about how the new $1.6 million transfer balance cap will operate when a fund member dies, especially if the fund member has arranged for his or her spouse to receive a superannuation death benefit pension, including a reversionary pension. This article provides a brief ... Read more
Superannuation death benefits: Who receives super payments, and how much tax is paid?
On the death of a super fund member, a superannuation death benefit can be paid to the dependants of the fund member, or to the fund member’s estate. The term ‘dependant’ has two special meanings when referring to superannuation death benefits. A super fund can only directly pay a superannuation death benefit to ... Read more
Superannuation death benefits: Dear Dad, Tax for everything
If you plan to leave your super to your adult children when you die, your superannuation death benefit may be hit with benefits tax, even though you would have received that benefit tax-free (if aged 60 or over) while you were alive. The reason for this inconsistency is that superannuation death benefits paid to ... Read more
Life expectancy: Will you outlive your retirement savings?
Every five years, the latest data is released on average life expectancies, that is, how many years you’re expected to live, on average. The table contained later in this article contains the most up-to-date information on expected lifetimes. Note: The next batch of official data on life expectancies will be ... Read more
Maximum life expectancy: Have we reached our longevity limit?
Australians born today are expected to live longer than Aussies born five years earlier, on average, according to the Australian Life Tables. The prospect of a longer life doesn’t seem to apply however if you’re a woman or man in your late-eighties or nineties (see Tables 1 and 2 later in this article). A firm fact ... Read more
Retirement Income Reckoner
The SuperGuide Retirement Income Reckoner allows you to discover what type of annual income (indexed for inflation), you can expect in retirement (including PART Age Pension) for a range of superannuation balances. You can find out what type of income your retirement savings will deliver based on 8 different ... Read more
How Much Super Is Enough Reckoner
The How Much Super Is Enough Reckoner allows you to discover how much superannuation you need in retirement to deliver your ideal indexed annual income over retirement (including PART Age Pension). You can find out the super savings you will need for a $50,000 a year retirement, a $60,000 a year retirement, a ... Read more
Reality check: How much does it cost to live in retirement?
We all have expectations about what our retirement will look like in terms of lifestyle, but how does retirement actually pan out for those living in retirement? SuperGuide regularly publishes articles and reckoners on the lump sums necessary on retirement to live your desired lifestyle, and we also publish articles on ... Read more
Latest Age Pension rates (since September 2018)
Note: This article explains the latest Age Pension rates, applicable until 19 March 2019. The Age Pension rates are indexed twice-yearly, with the next adjustment taking effect from 20 March 2019. If you are seeking information on how the Age Pension rules work, see SuperGuide articles Australian Age Pension: Am I ... Read more
Age Pension: Assets test thresholds applicable since September 2018
Note: This article explains the latest Age Pension assets test thresholds for FULL Age Pension (applicable from 1 July 2018 until 30 June 2019) and for PART Age Pension (applicable from 20 September 2018 until 19 March 2019), and also earlier thresholds (including from 1 July 2018 until 19 September 2018, and 20 March ... Read more
Age Pension changes: More Australians entitled to payments since September 2018
Effective since 20 September 2018, Age Pension rates increased, and the assets test and income test thresholds changed for assessing Age Pension entitlements. In March, July and September of each year, the federal government changes the rules for claiming the Age Pension… usually for the better! Currently, the Age ... Read more
Age Pension: Income test thresholds applicable since September 2018
Note: This article explains the latest Age Pension income test thresholds for FULL Age Pension (applicable from 1 July 2018 until 30 June 2019) and for PART Age Pension (applicable from 20 September 2018 until 19 March 2019). This article also lists the thresholds applicable from 1 July 2018 until 19 September 2018, ... Read more
