Sep 2, 2023 | Accessing Superannuation, Blog, Contributing to Super, Retirement Income Streams, Superannuation
The difference between superannuation and retirement is that one is a vehicle for retirement savings and one is a term generally used to describe the act of no longer working. Superannuation can be broken into two main parts and retirement can have numerous...
Sep 2, 2023 | Accessing Superannuation, Blog, Centrelink, Retirement Income Streams, Superannuation
If you were born in 1965, you can retire when it is affordable to do so. For most people, retirement becomes affordable when they can access their superannuation. Retirement income can also be supplemented if you become eligible for the Centrelink Age Pension....
Sep 2, 2023 | Blog, SMSF, Superannuation
What is Superannuation? Superannuation is a vehicle saving for retirement in a tax-effective manner. Superannuation is Australia’s own little ‘tax haven’. This is place to build up savings for retirement in a tax effective way. All income and capital...
Sep 2, 2023 | Blog, SMSF, Superannuation, Superannuation Tax
Pooled vs segregated assets refer to the investment strategy of a self managed superannuation fund (SMSF). A self managed superannuation fund is a specific type of super fund that has fewer than five members. Generally, all members of a SMSF are trustees of the SMSF,...
Sep 2, 2023 | Accessing Superannuation, Blog, Death Benefits, Superannuation
What is a non-binding beneficiary in superannuation? A non-binding beneficiary is a the person that you would like to receive your superannuation balance (and any insurance benefits within super) upon your death. A person becomes a non-binding beneficiary of your...
Sep 2, 2023 | Accessing Superannuation, Blog, Retirement Income Streams, Superannuation
The working after retirement rules in Australia are reasonably flexible. Ultimately, it is better for the Australian economy if more people are working. This is why the Government leaves the retirement definition quite open. In saying that, it is important to...
Sep 2, 2023 | Accessing Superannuation, Blog, Centrelink, Retirement Income Streams, Superannuation
The retirement age for women, based upon the general concept or definition of retirement, is no different between men and women. Therefore, the retirement age for women in Australia is the same as the retirement age for men. I define retirement as the ability to cover...
Sep 2, 2023 | Accessing Superannuation, Blog, Retirement Income Streams, Superannuation
The Superannuation Preservation Age in Australia gradually increases from age 55 to age 60, depending on when you were born. We are currently in the midst of this gradual increase in superannuation preservation age. The superannuation preservation age signifies the...
Sep 2, 2023 | Accessing Superannuation, Blog, Centrelink, Retirement Income Streams, Superannuation
An indexed pension is an income stream that has income payments progressively increasing in value. The purpose of this is an attempt to ensure that the pension recipient has the ability to continue covering living expenses, despite the cost of living increasing due...
Sep 1, 2023 | Blog, Death Benefits, Reversionary Pensions, SMSF, Superannuation
There are a number of advantages and disadvantages of superannuation binding death benefit nominations. A superannuation binding death benefit nomination is akin to a Will for your super. Your Will does not control who receives your super if you die. The distribution...