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Showing 1 - 10 of 322 results for %22Aged Pension%22

Top 10% of households home to 15 times more wealth

JAMIE WILLIAMSON  |  FRIDAY, 19 APR 2024
... since 2003, some 45% of it went to the highest 10%, being those with more than $2.6 million, and half of that went to people aged 64 and older. The wealth inequality in households aged under 35 is also stark. The average wealth of the top 10% grew from ...

Mine Super cuts fees, updates investment options

ANDREW MCKEAN  |  WEDNESDAY, 17 APR 2024
... down to three. From May 20, members under the age of 50 continue to be invested in a high growth strategy, however, members aged 50-54 will be invested in growth, and those aged 55 and above in balanced. Mine Super will also soon change its default insurance ...

UK advisers told to review retirement advice processes

JAMIE WILLIAMSON  |  THURSDAY, 21 MAR 2024
... consumers access their retirement savings, giving them more choice around what to do with their money. Since then, those aged over 55 could spend their pension how they please, including withdrawing 25% tax-free. Previously, retirees were forced to buy ...

AustralianSuper engages TAL to create retirement option

ELIZA BAVIN  |  TUESDAY, 19 MAR 2024
... drawing down a regular income stream from their superannuation savings while also maximising the benefits of the Aged Pension. For others, it is providing the comfort that no matter what their retirement journey they have the certainty of an income for ...

Taskforce suggests aged care funding be based on personal wealth

JAMIE WILLIAMSON  |  TUESDAY, 12 MAR 2024
The final report from the government's Aged Care Taskforce suggests the amount paid by Australians accessing care should be determined by their personal wealth, including superannuation, rejecting the idea of an aged care levy. On the back of the ...

Long-term cost of super early release to be $85bn: SMC

CHLOE WALKER  |  FRIDAY, 1 MAR 2024
... at $2.5 billion per annum (in today's dollars) in the mid-2060s when the last of those who accessed the scheme, currently aged in their 20s, begin to retire and qualify for the Age Pension. These costs are borne by future taxpayers, either explicitly ...

Aussies do not underspend in retirement, say super funds

JAMIE WILLIAMSON  |  WEDNESDAY, 21 FEB 2024
... pre-retirees and retirees from six of its member funds, a qualitative and quantitative survey of 1562 pre-retirees and retirees aged 55-74, ABS data and the HILDA Survey.

Advice reforms can solve retirement income challenges

KARREN VERGARA  |  FRIDAY, 9 FEB 2024
... suggestion is the government providing educational material to members to better understand how large unforeseen expenses such as aged care and medical expenses affect their nest egg. Such new laws can lead to super funds assisting or nudging members ...

Product modernisation will strengthen retirement outcomes: FSC

CHLOE WALKER  |  MONDAY, 20 NOV 2023
... by 2050, delivering $21 billion in additional retirement income for Australians." According to the report, an individual aged 40 with a current balance of $80,000 could have an additional $198,676 - from $484,005 to $683,689 - by the time they retire ...

Taskforce unveils recommendations for economic equality

KARREN VERGARA  |  MONDAY, 23 OCT 2023
... government in a bid to deliver better economic equality for women. Given that the median superannuation balance for women aged 65+ years was $168,000, compared to $208,200 for men in the 2019-20 financial year, the taskforce is pushing for the government ...
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