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Showing 51 - 60 of 1074 results for %22Age Pension%22

Ad hoc changes to super scare self-funded retirees: ASA

CHLOE WALKER  |  MONDAY, 24 APR 2023
... regime which will enable Australians to have a comfortable retirement. "...This removes the growing burden of a government pension for an increasingly ageing population," it said. "We consider this to be a complex issue to tackle, and worthwhile." According ...

Super fund selection driven by fees: SCA

ANDREW MCKEAN  |  THURSDAY, 13 APR 2023
... showed that only 42% of participants are confident about having enough super for retirement, while 43% believe the Age Pension will suffice if their super savings deplete. Delving further into consumer choice and behaviour, the survey indicated that ...

Cut spending and raise taxes, super preservation age: Grattan

JAMIE WILLIAMSON  |  WEDNESDAY, 12 APR 2023
... implemented. Tax breaks on super currently cost about $45 billion a year and are estimated to surpass the cost of the Age Pension by 2036. As previously flagged Grattan wants to see super earnings in retirement taxed at 15%, pre-tax contributions of ...

Drawdown reforms boosts post-retirement phase

KARREN VERGARA  |  TUESDAY, 11 APR 2023
... The final recommendation involves improving how super interacts with other parts of the retirement system like the Age Pension. Annual benefits paid out by superannuation as retirement income would be 10% higher each year, increasing to $38 billion more ...

ISA renews calls for gig worker super

CHLOE WALKER  |  TUESDAY, 11 APR 2023
... would this extra money improve the quality of life for individuals at retirement it would reduce the burden on the age pension," ISA said. The federal government has alluded to extending the Fair Work Commission powers to establish a minimum set of employment ...

Australians want super safeguard: ISA

CASSANDRA BALDINI  |  MONDAY, 3 APR 2023
... to embed this in the law," said ISA chief executive Bernie Dean. The scheme has also increased the taxpayer-funded age pension burden, with every $1 taken out of super resulting in up to $2.50 extra added to future pension costs. "Having super's ...

Super reform "takes away the right to be tax exempt"

ANDREW MCKEAN  |  TUESDAY, 28 MAR 2023
... existing Superannuation Industry Supervision (SIS) regulations, retirees must draw a minimum pension amount based on their age when they start an income stream. This minimum amount must be withdrawn to maintain the tax-exempt status of the pension account. ...

Advice industry must change as population ages: Expert

CASSANDRA BALDINI  |  WEDNESDAY, 22 MAR 2023
Superannuation is one of the great successes of modern pension systems but as more people live longer, it's financial advice that will need to pivot, the Conference of Major Superannuation Funds has heard. Professionals Congress London Business ...

Inflation erodes retiree savings by 7.5%

KARREN VERGARA  |  TUESDAY, 21 MAR 2023
... since the early 1990s, ASFA chief executive Martin Fahy said. For retirees, falling real wages have meant that the Age Pension payments have not benefitted from adjustments linked to wage increases. "These ongoing pressures on retiree budgets have caused ...

Super tax break crackdown to hit $410bn in savings

ANDREW MCKEAN  |  WEDNESDAY, 1 MAR 2023
... percentage of people with very high balances." "Our modelling shows that the average person, with the support of the age pension, only needs $258,000 in super to maintain their standard of living in retirement; those people won't be affected by these ...