Tax lump sums to beat longevity crisis: ASFABY MARK SMITH | THURSDAY, 16 MAY 2013 12:25PMImposing 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. |
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Matt Gaden
HEAD OF AUSTRALIA
JANUS HENDERSON INVESTORS (AUSTRALIA) LIMITED
JANUS HENDERSON INVESTORS (AUSTRALIA) LIMITED
Helping investors traverse financial markets and build their wealth during the peaks and troughs is Janus Henderson Investors head of Australia Matt Gaden's game plan. He tells Karren Vergara why in this long game of investing, active management wins.
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.