News : Pensions

Pensions, Retirement, Superannuation

Super growth reducing age pension drawdown

The growth of superannuation assets has resulted in less than half of new retirees drawing on the age pension last year, and only one-quarter accessing the full amount available to them.

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Pensions

Valid pensions take precedence over BDBNs

Valid reversionary pension arrangements should take precedence over binding death benefit nominations, according to an SMSF document provider.

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Pensions, Retirement

Time running out for anti-detriment benefits

anti-detriment; provisions; death benefits

Advisers wanting to take advantage of the anti-detriment provisions for death benefits paid to their clients must do so before 1 July, a financial institution has said.

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Pensions

Pension underpayments a risk for members

SMSF members must meet their mandatory minimum pension amounts in order to claim their tax exemptions for the financial year, an SMSF expert says.

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Pensions

June optimal for pension commencement

SMSF; pension; exemption

A specialist lawyer has suggested June is the best time for SMSF members to start a pension, using an exemption related to minimum yearly draw-down amounts.

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Pensions, Property

More retirees to access reverse mortgages

Changes to the Pension Loans Scheme will allow more retirees to access reverse mortgages, but they should also consider the potential downsides.

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Pensions, Retirement, Superannuation

Poll indicates strong support for raising SG

superannuation; age pension; retirement

The majority of Australians are supportive of raising the rate of compulsory superannuation and believe the age pension alone will not meet their retirement needs.

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Pensions, Superannuation

Overdue super and pensions review welcomed

Calls by the Treasurer for a review of the retirement income system have been welcomed, but such a probe has been labelled as overdue.

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Pensions

BDBNs dangerous territory for advisers

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Advisers making changes to BDBNs or reversionary pensions may be engaging in legal work that could negatively impact on them and their clients.

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Investments, Pensions, Retirement

Hub24 platform adds Challenger annuities

Hub24 has added three annuity products from Challenger to its investment menu.

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