News : Pensions

Administration, Documentation, Pensions

Advisers urged not to skimp on pension documents

A leading service provider has recommended SMSF advisers opt for full pension documents, even if it may cost clients more, to prevent confusion and breaches of PI insurance.

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Pensions, Superannuation

Segregation not just about pension accounts

When we use the term segregation or refer to an asset as being segregated in a superannuation fund, we are generally referring to a tax concept that relates to funds providing retirement-phase pensions.

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Pensions, Regulation, Retirement, Superannuation

ALP policy a big stick that will be felt by all

A quiet storm is brewing around Australia’s retirees as the Labor Party begins its federal election funding promises. And if people aren’t awake to this storm, and if the polls prove to be right about a change of government, then retirees can expect less pension income and everyone else will likely see a hike in superannuation fees.  

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Investments, Pensions, Retirement

Retiree focus on drawdown key

The issue of drawdowns during pre-retirement and pension phase needs greater attention, though investors are beginning to better acknowledge the risks, according to Lazard Asset Management.

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Accounting, ATO, Pensions

Excess determinations not a disaster

Accountants who lodged transfer balance account reports (TBAR) for their clients on 29 October may receive an excess notice from the ATO, but should not panic, a technical expert has said.

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Pensions, Superannuation

Market-linked pension commutations to be fixed

The federal government has announced it will amend superannuation legislation to find a permanent solution with regard to the transfer balance account treatment for individuals who have commuted a market-linked pension and commenced a new pension arrangement in its place.

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Pensions, Regulation, Superannuation

Franking ban to inflame age pension reliance

A new survey of investors has found nearly half of respondents, 44 per cent, expect to be more reliant on the age pension if the Labor Party’s proposed policy to ban excess franking credit refunds becomes a reality.

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Pensions

Pension conversions and death benefit pensions

Some doubt has been expressed about the ability of a member to use a binding death benefit nomination (BDBN) to convert their non-reversionary pension into a reversionary pension.

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Compliance, Pensions, Strategy

Disregarded small fund asset awareness needed for ECPI

Financial advisers and their SMSF clients need to consider the new rules pertaining to disregarded small fund assets when assessing whether an actuarial certificate will be needed to claim exempt current pension income (ECPI), an industry technical expert has said.

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Pensions, Strategy

Intergenerational estate planning requires varied pension strategy

Advisers should look to use a dual pension arrangement to achieve better intergenerational estate planning outcomes for their SMSF clients, a strategy specialist has proposed.

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