News : Retirement

Retirement

More seniors working in retirement years

Association of Superannuation Funds of Australia ASFA Mary Delahunty Working in retirement superannuation

A substantial portion of older Australians are working beyond retirement age, prompting a call for more adaptable policies to accommodate this shift.

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Retirement, Superannuation

Gain or reward key to proof of work

condition of release retirement superannuation gainful employment SMSF Institute of Financial Professionals Australia IFPA Natasha Panagis

To meet a condition of release using the definition of retirement, the relevant employment situation must have an associated gain or reward.

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Regulation, Retirement

Role change is not retirement

Retirement Condition of release Superannuation Industry (Supervision) Regulation 6.01(7)

A change of employment conditions of a super fund member aged 60 will not satisfy a retirement condition of release in most cases.

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Retirement, Superannuation

Age pension fails to meet retirement needs

Retirement Age pension Superannuation

The age pension is proving insufficient to support even a basic standard of living in retirement, leading to growing concerns about financial well-being among senior Australians.

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Pensions, Retirement, SMSF

Trustees retiring earlier with more

Class SMSF TRIS Transition-to-retirement income streams APRA Pension

Research has found a much higher percentage of SMSF trustees are in pension phase and have larger member balances compared to those in APRA-regulated funds.

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financial advice, Retirement

Australians forgoing retirement advice

ASFA Retirement Advice

New research shows nearly half of Australian adults have not sought retirement planning information, with a significant gap between those trusting professional advice and those actually using it.

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Retirement

Retirement funding sources to evolve

2024 Super Members Engagement Report Investment Trends Retirement Superannuation savings Irene Guiamatsia Age pension

Australians expect to rely less on the age pension and more on their own superannuation savings, investments and their partner’s savings as income to support their retirements.

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Pensions, Retirement

Age pension falling short

age pension guaranteed income Allianz Retire+ Allianz Australia Adrian Stewart

The age pension is regarded as insufficient by most retirees, leading to a growing interest in working longer and securing guaranteed retirement income streams.

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Retirement, Tax

Set rules for CGT retirement exemption

Small business capital gains tax Retirement exemption CGT Contribution

Specific rules apply to individuals under age 55 who want to take advantage of the retirement exemption under the small business CGT concessions.

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Compliance, Retirement, SMSF

Query reasons for trustee transactions

SMSF Self-managed superannuation Tim Miller SuperGuardian Smarter SMSF sole purpose test related party transaction

Questioning the motives of trustees will often reveal why they are undertaking a transaction and if it will pass the sole purpose test.

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