Financial Standard Comments - Tax lump sums to beat longevity crisis: ASFA Imposing higher taxes on taking lump sums from superannuation will encourage members approaching retirement to opt for income streams, the Association of Superannuation Funds of Australia (ASFA) has said in a new whitepaper. https://www.financialstandard.com.au/feed/latest?story=33061639 Thu, 16 May 2013 16:16:40 +1000 Thu, 16 May 2013 16:16:40 +1000 en-AU Copyright 2026 Financial Standard 5 Comment by First name Last name (Company Name) I am going without now so that I can get funds into superannuation to be able to access it tax-free in retirement. You start taxing funds on exit post age 60 and I will stop contributing any additional funds altogether. You would remove any incentive, particularly when weighing it all up, with the funds locked in and there is no guarantee I will live long enough to access my funds anyway. I would probably look to purchase 10 year bonds instead. I am sure that there are a lot of people out there that will feel the same. Looks to me like you are aiming to destroy your own industry.

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