News : Retirement

Estate Planning, Retirement

Be wary about claims around incapacity

SMSF trustee incapacity

Any claims about the incapacity of an SMSF trustee must come with fully documented evidence and should not rely only of the word of an attorney.

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Regulation, Retirement

Carve-out a missed opportunity

retirement income carve-out

A chance to address retirement issues extending beyond investment themes may have been missed by excluding SMSFs from the retirement income covenant.

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ATO, Retirement

Illegal early access on the rise

retirement early access

SMSFs being set up to allow individuals to access their retirement savings early and illegally increased last year and the trend is continuing.

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Regulation, Retirement

SMSFs get retirement income covenant bypass

retirement income covenant

SMSFs will not be bound by the proposed legislation requiring superannuation fund trustees to formulate a retirement income strategy for members.

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Retirement

COVID-19 impacts retirement plans

retirement COVID-19

Investor research has shown Australians have changed their attitudes towards retirement as a result of the coronavirus pandemic.

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Retirement

Retirement covenant an advice opportunity

retirement covenant advice

The Retirement Income Covenant will create further opportunities for financial advisers who can map out the income needs of clients beyond the accumulation phase and well into their retirement years.

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Retirement, Superannuation

SMSFs mainly viewed as nest egg

SMSF retirement nest-egg

SMSF members have only started to reconsider superannuation as a retirement funding tool, with many still viewing it as an untouchable nest egg.

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Financial Planning, Retirement

Advice for fund members not addressed

retirement superannuation advice

Super fund members have not been given adequate advice on how to spend their retirement incomes despite being told for years how to save for it.

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Financial Planning, Retirement

RI covenant raises advice issue

SMSFs retirement advice

The advice SMSFs will need for retirement income covenant compliance could be problematic given the unlicensed status of many sector advisers.

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Retirement

Virus restrictions hit retiree living costs

retirees living costs

ASFA statistics have revealed the increased cost of living in the past year has put greater pressure on retirees.

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