Can I put money into super when I’m 65 or over?

Can I put money into super when I’m 65 or over? If it’s a voluntary contribution, you’ll need to have worked for at least 40 hours within a 30-day period under work test requirements. If you’re 65 or over, you can continue to build your superannuation with compulsory employer contributions (such as Super Guarantee contributions your employer pays where you are eligible). However, if you’re making voluntary contributions, which you may do through salary sacrifice (which is …

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Why it pays to contribute to your partner’s super

Why it pays to contribute to your partner’s super If your other half is a stay-at-home parent, working part-time or out of work, adding to their super could benefit you both financially. If your spouse (husband, wife, de facto or same-sex partner) is a low-income earner or not working at the moment, chances are they’re accumulating little or no super at all to fund their retirement. The good news is, if you want to help …

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Do you make up the age group with the most lost super?

Do you make up the age group with the most lost super? With almost $18 billion of super money unclaimed in Australia, it’s worth knowing if any of it’s yours and how to go about getting it. If you noticed cash was missing from your wallet, it’s more than likely you’d look for it. But, what if the money you lost track of was your superannuation? Would you notice it was gone? Would you know …

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Simple money steps for women

Simple money steps for women The same approach to managing day-to-day money can be applied to long-term investments. It was Carrie Bradshaw, of Sex and the City fame, who said: ‘I like my money where I can see it – hanging in my closet.’ While that might sound trite, it’s not far from the truth for many women. Most of us are more comfortable dealing with day-to-day money and the tangible things it can be …

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Millions but not all to benefit from 2017 super changes

Millions but not all to benefit from 2017 super changes With changes to super now in effect, numerous Australians will get a leg up, many being low-income earners. According to the Association of Superannuation Funds of Australia (ASFA), more than four million Australians will benefit from the super changes that came into effect on 1 July 2017.i The industry body said while many would be impacted by new rules and restrictions, millions would benefit from …

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Superannuation and the financial ties that bind

Superannuation and the financial ties that bind They say, only one thing in life is certain. And while we would rather plan our next holiday than consider what’s going to happen when we die, it is one inevitable event that we should all plan for. When someone dies, it’s a very difficult time for all the family. A Will provides some assurances as to how our money will be distributed. But what about superannuation? …

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Living longer, working longer and super balances larger

Living longer, working longer and super balances larger Australians with the best life expectancy in history will have to work longer in order to be able to fund their retirement. But research has found only half of all working Australians will be healthy enough to work in to their golden years. The latest AMP.NATSEM report, Going the distance: Working longer, living healthier, has found the majority of Australians have less than a 50 per cent …

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It pays to contribute to your partner’s super

It pays to contribute to your partner’s super If your spouse is a stay-at-home parent, working part-time or out of work, adding to their super could benefit you both financially. If your spouse (husband, wife, de facto or same-sex partner) is a low-income earner or not working at the moment, chances are they’re accumulating little or no super at all to fund their retirement. The good news is, if you help by contributing some of …

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Make the most of the current super caps

Make the most of the current super caps Consider John and Jane’s story before new rules limit your super contributions and pension transfer options. John’s aged 65 and Jane is 60—they’re both about to retire. John has super assets totalling $2 million and Jane’s super balance is $300,000. Because neither has made a non-concessional contribution (NCC) recently, the three-year bring-forward rule hasn’t yet been triggered. That means John and Jane have a chance to take …

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Estate planning and why you need a super plan

Estate planning and why you need a super plan When it comes to passing-on your super money, you need to put specific plans in place so the right people end up with it when the time comes. You’d probably rather be doing something other than thinking about your own mortality. But because your super can become a significant amount of money, you’ll want to make sure it goes to the right people when you die. …

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