Pensioners, veterans, other income support recipients and concession card holders will receive a one-off payment of $750 as part of the Government’s $17.6 billion plan to prevent the economy sliding into recession following the coronavirus pandemic.
Age Pension rates increased on 20 March 2020. This article also explains how the Age Pension works, and includes the latest Age Pension rates for residents, non-residents, and the transitional Age Pension.
A common question for those nearing or in retirement is “How much can a pensioner earn before it affects the pension?”.
This article details the rules of the Age Pension assets test (how much your savings and other assets are worth), which is one half of the means test (along with the income test) that determines how much Age Pension you could be eligible for.
Super funds stay safe in short-term volatility, NAB hit with new class action, no increase in $1.6m transfer balance cap, older Australians resist home modifications and more Australian seniors would downsize if they could.
This month we look at what support is available to Australians affected by the bushfires, changes to legislation allow high earners to opt out of some SG payments, warnings from the ATO and ASIC on early release of super schemes, the price of medications for pensioners has come down, FASEA’s ethics rules are now in place and APRA launches a new sustainability standard.
This month we look at APRA’s MySuper heatmap, the new ‘Right to remain’ test recommendation, longevity tables in need of an update, new research shows that the majority of Australian retirees are independently navigating their way through their retirement finances and Treasury invites submissions as it considers the present and future performance of our retirement income system.
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.
This month we look at the new proof-of-life certificates required for pensioners overseas, the launch of Australia’s first independent superannuation consumer advocacy organisation, the announcement of a major review of Australia’s retirement income system and an awareness campaign to help you stay safe online.
This month we look at rising mortgage stress for retirees, Fat Cat Funds results, the suburbs with the most unclaimed super and the Better Retirement Outcomes report on super balances.
APRA to rate super funds, ATO cracking down on SMSF diversification and Australians working longer.
If you are wondering how recent rule changes have affected your super and retirement plans, here’s a quick guide to the key changes and when they commenced.
A key recommendation in the new Productivity Commission report, the idea of employees being given a ‘best in show’ list for the top 10 performing super funds has been met with a hostile response from the super industry.
Australia’s current super system is “harming millions of members” through underperforming funds, multiple accounts and excessive fees.
In this article, I dig into this subject in more detail, particularly for those who hold their shares directly in their own names, to show what the ALP proposal really means and how it would operate.