A recently released report from the Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulatory Authority (APRA) reveals a massive gap in the support that retirees should now be receiving from their super fund – and what...
Alfred Einstein knew a thing or two. His view on mistakes was simply summed up when he said, ‘The only mistake in life is the lesson not learned’. We agree. For most of us, it’s not about any poor choices that we may have made, but more about how we respond...
How to respond to 12-month returns Superannuation research house SuperRatings has released the financial year returns for Australian super funds – and Account-Based Pensions. These rankings are useful in many ways. First and foremost, we have a clear idea of...
Five worst super mistakes And ways to avoid them Yes, it’s a challenge to keep up with the ever changing landscape of superannuation. But that shouldn't result in you making any of these worst super mistakes. Back in the day there was the idea of not...
Steven says: Your questions answered on super drawdowns A few weeks ago we reported on the pending change to the minimum super drawdown rates. Essentially, on 1 July the current rates will be doubled, reverting to the previous rates pre-Covid 19. At one...
Transfer Balance Cap explained Will you be affected on 1 July? On 6 February we reported that Consumer Price Indexation of the $1.7 million super Transfer Balance Cap means it will increase to $1.9 million on 1 July. That change has now been confirmed and it...
Minimum drawdown rates explained: How much, how fast? The minimum drawdown rates for income payments from super are about to double. We mentioned this last week in our overall Federal Budget coverage. But because it can have such an impact on your retirement...
Budget 2023 - what’s in it for older Australians? Federal Treasurer Jim Chalmers has handed down the May 2023 Federal Budget. There weren’t a lot of surprises but there are a few nice bonuses for older Australians. Before we start, it's important...
Federal Budget 2023-2024: What we’d like to see Our goal at Retirement Essentials is simple. It is to help all older Australians to enjoy their best possible retirement. This we do by providing financial guidance and support when it comes to managing your...