What do retirees need to know? Rules covering contributions to super can be challenging to understand. The following overview looks at the two broad categories of contributions and then focuses on those rules that affect retirees the most. What are the...
My super is tanking: Should I withdraw my super? This question arrived at the end of last week. And it’s easy to see why. The ASX All Ordinaries index dropped by 2.51% in a single day, recovered by 0.15% on Thursday and then dropped again by 1.51% on...
Fifth downturn in 30 years The numbers are in and ‘its not pretty’ said one super fund chief. This is all too true, with Chant West reporting an expected 3.5% drop in super fund balances over the past 12 months. This amount is still an estimate as it takes...
As we’ve noted already, there was a huge focus on superannuation in the last week of the election campaign, in particular, the change in the ‘downsizing’ rules. This proposal would mean that those wishing to put extra money into super, from the sale of a...
The detail you need to know Last week’s Federal Budget included a significant change to the rules regarding decumulation. In particular, how much money you are allowed to draw down from your super account post July 1, 2022. These changes have raised a lot of...
How can these rule changes increase your income? Big things are happening to super on July 1. These changes have the power to significantly improve income for older workers, Age Pensioners, and those aged 60-75. Here’s a summary of what you need to know...