Superannuation is an ownership structure designed to assist you accumulate funds for retirement. Just as you are able to hold assets like shares, property or managed investments in your own name, you are able to hold assets within superannuation. Read more about Understanding Superannuation
The superannuation co-contribution is a Commonwealth Government initiative designed to encourage low income earners save for retirement. If you are eligible and make a personal contribution to superannuation, the Government will contribute an additional amount to your superannuation account. Read more about Understanding the Superannuation Co-contribution
A Self Managed Superannuation Fund (SMSF) allows individuals to gain greater control over their retirement savings.This is due to the fact that the investment decisions of an SMSF are made by members. In contrast, public offer superannuation funds generally make these decisions on behalf of their members. SMSFs benefit from the same tax concessions as public offer superannuation funds. Read more about Understanding Self Managed Superannuation Funds
The transition to retirement initiative was introduced by the Government to encourage older Australians to remain in the workforce and slowly ease out of full-time employment. Under the transition to retirement rules, if you have reached your preservation age, you are able to access your superannuation benefits as regular pension income without having to retire or leave your job. Read more about Understanding the Transition to Retirement
An account based pension is a superannuation account that pays you a regular income. Compared to superannuation in accumulation phase, an account based pension has additional concessions and is a convenient, flexible and tax efficient way of receiving your superannuation benefits. Read more about Understanding retirement Income
Understanding the Transfer of UK Retirement Benefits
Due to the increasing number of individuals who temporarily work overseas or who immigrate to Australia, the number of people who have accumulated foreign retirement benefits is becoming more common. This is particularly so for retirement benefits generated in the United Kingdom (UK). The issues associated with the transfer of retirement benefits accumulated in the UK are outlined in this Understanding Series information flyer. Read more about Understanding the Transfer of UK Retirement Benefits
While a Will is an important aspect of an effective estate plan, not all assets can be dealt with by the terms of a Will. These assets are generally referred to as non-estate assets and can include non-estate assets such as a superannuation account for example. Estate planning seeks to ensure an individual’s estate is passed on to their intended beneficiaries in an efficient and tax-effective way. Read more about Understanding Estate Planning