August 19, 2015 11:59 am

Wealth Protection Strategies For Retirement


So you’ve accumulated enough wealth by working more than half your life. Now it’s time for you to enjoy your hard earned money and hope it lasts you through retirement.  Pre – retirement is a crucial time as you should have strategies in place to protect your wealth. Life after retirement should be an exciting chapter in your life, and with your retirement fund in hand, securing it should be the least of your worries. When you are in your early 50’s, proper care should be made to ensure that you have a wealth protection plan for retirement. Usually, at [...]

Wealth Protection Strategies For Retirement2023-03-03T00:01:37+10:00

August 29, 2014 1:09 pm

Are You Willing to Trust Automated Superannuation Advice?


The Australian Institute of Superannuation Trustees is looking into the not so distant future where the industry will be offering their members with automated advice online or over the phone. This was posed as a possibility to counter red tape and fraudulent advice. The AIST is looking into regulatory constraints such as product disclosure and how to align advice according to the clients’ personal circumstances. It is expected that consumers will feel skeptical about getting automated advice, but this will ultimately result in quicker results. Several important issues have to be addressed before this becomes a reality, but for now [...]

Are You Willing to Trust Automated Superannuation Advice?2023-03-03T00:01:38+10:00

June 13, 2014 12:53 pm

Would You Be Comfortable Talking to Your Kids About Superannuation?


Is there an appropriate age to open up about the superannuation system? A recent study commissioned by Australian Institute of Superannuation Trustees show that Generation Y – on the average, are starting to talk more about superannuation as early as 24 years old as compared to pre – retirees, who thought about superannuation at a later age, at 42 years. Women in particular should be more concerned as they are more likely to be affected due to the gender pay gap and career breaks. The current pay out for superannuation for men is $110,000 while women contribute a measly $37,000. [...]

Would You Be Comfortable Talking to Your Kids About Superannuation?2023-03-03T00:01:38+10:00

April 14, 2014 1:29 pm

Women Far Behind on Superannuation: ASFA


The Association of Superannuation Funds of Australia has recently released a report revealing that 35% of women have no money for retirement. A staggering 60% of women aged 65 to 69 are among the worst affected, as they had no superannuation. ASFA chief executive officer Pauline Vamos has called this an alarming gap in superannuation for women. Based on the report, across all age brackets, men’s average superannuation stands at $112,000 while women only average $68,600. A huge factor being pointed out for the disparity is the length of time women take career breaks to take care of their families, [...]

Women Far Behind on Superannuation: ASFA2023-03-03T00:01:40+10:00

January 29, 2014 2:46 pm

Retail Funds Call for Privatization


The Financial Services Council have urged state government officials to sell infrastructure to For – Profit Superannuation funds, setting their sights on state-owned electricity networks. Retail fund’s plan to invest in infrastructure have sparked debate among economists, who warned that this is a risky move, as privatization can push electricity prices up, and the government will shoulder the burden in case such projects fail. Australian Competition and Consumer Commission chairman Rod Sims stands firm in his claim, saying that ''There is no doubt in my mind that energy prices, particularly in NSW and Queensland, would now be lower had the [...]

Retail Funds Call for Privatization2023-03-03T00:01:41+10:00

October 9, 2013 11:47 am

Proposed Generation Y Retirement Age: 68


Retirement Commissioner Diane Maxwell is recommending to raise the retirement age for Generation Y (people born on the 80s to the 2000s). This is part of a proposal to increase the retirement age by a year every 10 years starting in 2027 to address the increasing number of baby boomers (post World War II 1946 and 1964) nearing retirement. The gap between male and female retirement benefits will also be reduced, as women contribute 20% less than men. The government is considering this proposal, as well as putting up a “flexi-super” scheme, where early retirees can avail of a lower [...]

Proposed Generation Y Retirement Age: 682023-03-03T00:01:42+10:00

Australia’s Superannuation System is One of the World’s Best


Australia has been ranked 3rd overall in Superannuation quality for 2 straight years, behind Denmark and the Netherlands in the 2013 Melbourne Mercer Global Pension Index. The country’s overall score has increased from 75.7 to 77.8 this year. This is good news for Australia as it boasts of a consistent and effective Superannuation system. Even with this impressive performance – the Australian Superannuation system still has room for improvement. The report notes that the nation can use part of pension can be allocated for income and realigning the pension age with life expectancy. Read more about this on the Money [...]

Australia’s Superannuation System is One of the World’s Best2023-03-03T00:01:42+10:00
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