News : Pensions

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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Pensions, Strategy

Inquiry launched on scrapping of franking credit refunds

The House of Representatives Standing Committee on Economics has announced an inquiry into the impact of removing refundable franking credits.

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Pensions, Retirement

Morrison dumps plan to raise pension age to 70

The Association of Superannuation Funds of Australia (ASFA) has welcomed Prime Minister Scott Morrison’s announcement today that the government will scrap a proposal to lift the age of eligibility for the age pension beyond 67 years.

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Pensions, Regulation

Actuarial certificate regulation will cut red tape

SMSF administrator SuperConcepts has urged Treasury and the federal government to push ahead with a regulation that will prevent SMSFs that only have account-based pensions in their fund from needing to obtain an actuarial certificate if they want to cut costs and red tape.

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