12 Changes to Super that Could Affect You or Your Parents

On 23 November 2016, you may have missed the big announcement. Parliament passed the Super measures announced in the 2016 Federal Budget. Sound boring? Well there not boring and they could affect you, your parents or a loved one, so read on. The changes are aimed at improving the fairness, sustainability, flexibility and integrity of the superannuation system – it’s serious stuff. The table below outlined the new laws. Read through them and please, if they don’t make sense or you would...

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Urgent Action Required – GESB West State super members and former public servants

If you have ever worked in the WA State public sector, chances are that you may have a West State superannuation account. What you may not know is that owning one of these accounts can prove extremely valuable, even if you are no longer working. West State super operates under different rules than most super funds, giving West State members potentially fantastic opportunities to save tax, even when they are no longer employed by the State public sector. However, the WA State Government recently...

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GESB Financial Advice

WHAT'S HAPPENING WITH GESB? Are you a WA State Public Sector Worker, or have previously worked for the State Government? Chances are you are a member of one of the GESB superannuation funds. If so, you may have already heard that due to State government pressure, GESB are in the process of shutting down their financial advice arm. So where does this leave GESB members wanting high quality financial advice? Well, let’s face it, there are plenty of advisers out there. However, GESB members need...

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Transition to Retirement

Transition to Retirement Pensions: What are they? Transition to retirement refers to a strategy where those that have met their preservation age use their superannuation to draw an income (called a non-commutable pension), whilst at the same time boosting their superannuation through salary sacrifice. It was introduced by the Australian Government in July 2005 to encourage its workforce to remain working for longer.

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