Retirement income options: The next step for Australia

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The Australian compulsory superannuation regime has now been in operation for approximately 20 years and has, to date, largely focused on accumulation strategies. Over the past few years, more thought has been given to retirement income strategies, but the market is still relatively immature in terms of solutions available. Now, Australia’s ageing population and increasing

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Super Guarantee hike leads to record $15.57 billion in employer super contributions

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Software spending strikes fresh high as Australian businesses update technology Employers paid a record $15.57 billion into employees’ superannuation accounts in the third quarter of 2013, reflecting the rise in the Superannuation Guarantee to 9.25%, according to gross domestic product (GDP) statistics released today by the Australian Bureau of Statistics (ABS). The data also showed

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FSC commends government commitment to superannuation

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The Financial Services Council has commended the Government for confirming its commitment to increase the Superannuation Guarantee Charge (SGC) to 12 per cent as part of its repeal of the Mineral Resources Rent Tax (MRRT). “The Government has a clear mandate to repeal the MRRT whilst retaining the key policy of increasing super contributions to

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Who is really paying for higher super contributions?

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On 1 July 2013, the compulsory super guarantee charge (SGC) rate will increase from 9 to 9.25 per cent but many Australians may not have thought about how it’s being funded, says the Institute of Public Accountants (IPA). If you think the Government is paying, think again.  There may have been a misunderstanding, that when

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