Early release of super may impact life cover

People planning to apply for early access to their superannuation to deal with severe financial hardship or serious medical problems need to consider the impact early release might have on their insurance cover. Early release may mean losing the right…

No TBC indexation this year

Q: I read in your publication last year that the superannuation transfer balance cap would be indexed to $1.7 million this year. Is that still the case? A: No. The Australian Taxation Office has advised that the transfer balance cap…

Kavanagh

Lifecycle investment options in superannuation funds have been getting a bit of coverage lately, with one article saying they can increase retirement benefits by up to 35 per cent. A typical lifecycle fund is one that automatically changes the member’s…

Time of review SMSF borrowing arrangements

As SMSF trustees review their investment options for the year ahead, one development they need to consider is the recent changes limited recourse borrowing arrangements may make borrowing a less popular option self-managed super funds. The outstanding balance of borrowings…

Kavanagh

One of the difficult issues facing retirees is getting their pension asset allocation right. Should they stay in balanced or even growth options in the early years of retirement to counter longevity risk? Or should they move into a capital…

How to find a sustainable super fund

Australia’s catastrophic bushfire season has prompted many people to consider how they can help address climate change concerns in the way they manage their households and their finances. When it comes to their superannuation, the Responsible Investment Association Australasia lists…

2019’s top super fund performers

Superannuation funds produced strong returns in 2019, continuing a run of positive returns that has been going for eight years. Growth funds were up by close to 15 per cent. UniSuper Balanced was the top performing “growth” fund in 2019,…

SG contribution opt out starts

People with multiple employers can now apply to opt out of receiving superannuation guarantee contributions from one or more of those employers. The new law, which took effect on 1 January, is designed to help people avoid unintentionally breaching their…

Clean, green and making you money: the most ethical super funds

The Responsible Investment Association Australasia has released its annual superannuation study, listing 14 funds that made its leader board. They are Australian Ethical, AustralianSuper, CareSuper, Cbus, Christian Super, First State Super, Future Fund, Future Super, HESTA, Local Government Super, NZ…

Compliance failures common in super fund advice to members

Less than half of the financial advice provided by superannuation funds to their members was fully compliant with advisers’ best interests duty and related obligations, a review has found. And a significant number of members were at risk of suffering…