There’s lots of jargon in the super system and even when it comes to something as simple as the different types of super funds, it can be hard to know what they are and how they work. One of the key differences you need to understand when comparing two super funds is whether the fund is a defined benefit or an ... Read more
Best performing pension funds over 5 calendar years (to December 2018)
According to the 10/30/60 rule, 60% of your retirement income comes from the investment returns you achieve during your retirement. While this rule originated from a US study, the principle holds broadly true for Australian retirees and underlines how important it is to continue to earn a good investment return in your ... Read more
Best performing super funds over 5 calendar years (to December 2018)
Being in a good performing super fund is one of the key factors for growing your super balance. The recent Productivity Commission (PC) review of superannuation identified that members of consistently poor performing funds would have substantially lower super balances at retirement. The PC produced an example of a ... Read more
Australian super funds (APRA regulated, June 2018)
Choosing a super fund is difficult enough, and it’s not helped by the fact there are hundreds of different super funds offering seemingly identical products. To help you better understand what super funds are available, on this page you can find a list of all super funds that are regulated by APRA. This is essentially ... Read more
Your tax guide to accessing your super under age 60
Many people dream about retiring early, taking their super and heading off to enjoy their remaining years, but it’s important to understand the tax implications before you take the plunge. Even if you are retiring you may not be able to access your super if you are under age 60 and if you do, the tax man is sure to ... Read more
Over age 60? A simple tax guide to accessing your super benefits
When it comes to the super system, reaching age 60 triggers an important change. It means you can withdraw you super benefits and most people pay no tax on their savings. This represents a big change from the tax position if you withdraw your benefits before age 60 where tax is payable on some parts of your super ... Read more
Super and pension funds with the lowest fees
In the recent Productivity Commission (PC) review of superannuation, the high fees paid by too many super members became a principal focus for the report. A key issue identified by the PC was that “balances are eroded by fees and insurance”, and the PC also claimed that fees were “the biggest drain on net ... Read more
What are the different types of super funds?
Choosing a super fund is one of the most important financial decisions you will make during your working life. With the difference between a top fund and a poorly performing one potentially adding tens of thousands of dollars to your retirement nest egg, choice of fund deserves careful consideration. Whether you are ... Read more
Retirement income: When is the optimal time to purchase a deferred annuity?
Since 1 July 2017, the government has extended the tax exemption on earnings in the retirement phase (currently applicable to superannuation pensions) to other retirement products, such as deferred lifetime annuities and in-house annuity products that super funds, or other financial organisations, may want to ... Read more
What you can expect from the Financial Services Royal Commission
Announcing a government inquiry is always big news, but when the Australian Government declared it was establishing a royal commission into Australia’s banks, it really made a splash. Referring to it simply as a banking royal commission may be underestimating its potential to also investigate the superannuation sector, ... Read more
Longevity risk: How deferred annuities can help your savings last as long as you do
In this article we will consider how a person can best ensure that they maximise their income in retirement from their savings while at the same time ensuring that their savings last for as long as they do. In doing so we will introduce you to deferred lifetime annuities, a retirement income product that can now be ... Read more