Research shows falling retirement spend driven by behaviour, not declining income

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Does spending decline dramatically through retirement due to declining assets balances? Can individuals predict their retirement spending based on pre-retirement income? New analysis by Milliman suggests that retirees’ age is just as strong an indicator of behaviour as income levels and casts doubt on common benchmarks, such as using a percentage of final salary as […]

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SuperEd adds B2C with Retirement Essentials merger

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Personalised digital advice provider SuperEd will add a unique retiree service for super funds and secure a direct-to-consumer offer after finalising its merger with consumer advice platform Retirement Essentials. Retirement Essentials provides retirees with a concierge service which guides them through Centrelink’s complicated Age Pension application process. After the merger, SuperEd will become the only digital […]

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The First Home Super Saver Scheme

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The First Home Super Saver Scheme (FHSSS) is intended to assist individuals entering the property market by allowing them to save on tax and receive higher earnings than if the money was invested in a bank account. What is the scheme? From 1 July 2018, an eligible member may apply to withdraw certain contributions (and […]

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Super plans for a new financial year

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July is the perfect time for people to ensure superannuation arrangements are on track for the financial year ahead, and to ensure their fund is still well placed to meet their needs, says Andrew Yee, Director, Superannuation with HLB Mann Judd Sydney. “There are a number of superannuation tactics that are best put in place […]

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GROW Super announces fee-free parental leave initiative to help raise awareness of super gap issue

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GROW Super announced yesterday their fee-free parental leave initiative to raise awareness to the growing super gap with women on average retiring with nearly 40% less than their male counterparts; an issue with devastating effects on Australia’s ageing population that will become even more challenging with increased cost of living in the future. Currently, the […]

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How much do you need to retire comfortably?

Three quick questions: Why do you work? How long will you work for? How much do you need to retire? Did you answer “I don’t know” to questions two and three above? Next question then. Do you go and buy a car without knowing your budget? Do you start a home renovation without knowing what […]

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Schroders Global Investor Study 2018: People significantly underestimating cost of living in retirement

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Key insights include: Australians expect to spend an average of 39% of their retirement income on basic living expenses — but the reality is retirees require 58%. Working Australians feel they should be saving 15% of their current income for a comfortable retirement, but they only save an average of 12%. Australian retirees currently live […]

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Super funds defy global chaos, remain on track for double-digit returns

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With geo-political tensions running hot, Australian super funds have held firm in the face of global uncertainty, delivering a modest positive return in May and remaining on track for double-digit returns for the 2018 financial year. According to superannuation research house SuperRatings, May return data shows super funds struggled through the month as global events, […]

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How to help customers make choices today that will benefit them tomorrow

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Superannuation is one of the most valuable products that working Australians own and yet one of the products they care least about. Forcing people to buy a product when the value can’t be unlocked for many years is a poor starting point for engagement. Not surprisingly, few choose to delay extra gratification today despite knowing […]

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SMSFs see spike in lump sum payments

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The latest findings from the SuperConcepts SMSF Investment Patterns Survey revealed a spike in the allocation of lump sum versus pension payments (19 per cent versus 81 per cent) in the first quarter of 2018. This is a reversal of trends from previous quarters which saw on average 10 per cent of payments as lump […]

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