Note: This article lists the 30 top-performing pension (retirement) funds over 5 years to 31 December 2018. For the top-performing super funds, see SuperGuide article Super stars! Top 30 super funds over 5 years. Discovering the best-performing super funds is fascinating reading for any Australian interested in how ... Read more
Super stars! Top 30 super funds over 5 years
Note: This article lists the 30 top-performing super funds over 5 years to 31 December 2018. For the top-performing pension (retirement) funds, see SuperGuide article Super performers! Top 30 pension (retirement) funds over 5 years. The investment performance articles on the SuperGuide website are some of the most ... Read more
Super tax tables: When OVER 60 years of age
The summary tables below contain the following information on super taxes for over-60s: Table 1: Contributions taxes Table 2: Earnings taxes (accumulation phase) Table 3: Benefit payment taxes for over-60s (taxed funds). All super funds except certain public sector funds. Table 3 outlines the tax treatment ... Read more
Tax-free super for over-60s, except for some
If you withdraw your super benefits after you turn 60 years of age, you can expect to pay NO tax on those super benefit payments, unless you are a member of certain types of public sector super funds, or you receive defined benefit pension of more than $100,000 a year. Note: Since 1 July 2017, certain recipients of ... Read more
Super tax tables: When UNDER 60 years of age
The summary tables below contain the following information on super taxes for under-60s: Table 1: Contributions taxes Table 2: Earnings taxes (accumulation phase) Table 3: Benefit payment taxes for under-60s (taxed funds). All super funds except certain public sector funds. Table 3 outlines the tax treatment ... Read more
Retirement: 3 ways of taking super benefits before the age of 60
When you retire early, you’re going to have to make a few decisions about your superannuation benefits. The tax implications of your retiring before the age of 60 can depend on whether you take your super as a lump sum and/or pension. Are you taking your super as a lump sum, a super pension (also known as a super ... Read more
Retiring before the age of 60: the tax deal
If you retire before the age of 60, your super benefit payments are likely to be subject to tax — but not always. With the right structure, and usually with expert advice, many Australians retiring early can end up paying no tax. If you’re willing to wait until you turn 60 before you retire, you can ... Read more
Accessing super: Turning 55 (or 56 or 57 or 58 or 59) is not enough
Q: I am 53 years old, born September 1964. I thought I could access my super funds from age 55 but I have been told I can’t access my funds until age 60. Is this correct? And, when I withdraw my super benefits, is there any tax payable? A: The general rule is that you must have reached your preservation age AND ... Read more
Super for beginners, part 27: Tax-free super when I start a pension just before turning 60?
Q: I turn 60 in May 2019. Is the compulsory 4% drawdown from my super pension treated on a pro-rata basis for my tax return for the 2018/2019 year, or can I draw it down after May 2019 rendering my super income after 60, and then tax-free? You ask a popular question relating to tax-free super for over-60s, and the ... Read more
Super for beginners, part 15: Super tax – as easy as 1-2-3
Superannuation only exists because of how super savings are taxed. Superannuation savings receive tax incentives to encourage Australians to choose super as a retirement savings option. Even so, superannuation is still taxed (for most Australians), but at a lower rate of tax than non-superannuation income and ... Read more
Super for beginners, part 8: What happens to my super benefits when I retire?
Q: I have a superannuation fund accumulating (although I am no longer making super contributions). I am 54 and I intend retiring at age 60. When I do retire can I withdraw the entire super fund as a lump sum and deposit it in to my bank account? What would the tax implications be for taking the entire fund as a lump ... Read more
Super fees: Top 10 cheapest funds in Australia
Note: In this article you can find the cheapest super funds and the cheapest super pension funds. The fees listed relate to the balanced investment option of the particular public offer super fund. Balanced option is defined as having 60 to 76% of investments in growth assets, which means some super funds may describe ... Read more
Comparing super funds: Who’s who in the super zoo?
Note: We regularly update this article with the latest data on superannuation funds issued by the Australian Prudential Regulation Authority. This article contains the latest data available, released on 29 May 2018 (for data as at 31 March 2018). Unless you work in the superannuation industry, how the world of super ... Read more
Comparing funds: List of all superannuation funds
If you’re comparing super funds, you have 199 super funds to consider. Daunting? Perhaps, but it is important to note that there are only 5 types of super funds in Australia, and most Australians can only choose from 3 of these fund types. You can expect to find the following five broad types of super funds in ... Read more
Investment performance: Mega super funds fail to deliver best returns
Is bigger better when considering where to invest your super money? Do the larger super funds deliver higher longer-term returns than the smaller superannuation funds? The short, and non-contentious, answer of course is: it depends on the super fund, including the asset allocation of the investment option and the ... Read more