Superannuation

Fee Changes July 2021

Please note: The following information relates to fee changes effective July 2021. We have some exciting news – for the third time in the last two years we are passing on fee savings to our members! For example, someone with $50,000 invested in our My Ethical Super option will now pay $610 in fees each … Read more

Changes to Minimum Pension Drawdown Rates

On the 29th May 2021, the government announced that the reduced annual minimum pension payment amounts will be extended for the 2021/22 financial year. To assist retirees, the government reduced the minimum annual payment amounts required for account-based pensions, annuities and allocated pensions by half for the 2019/20 and 2020/21 financial years. This was due … Read more

How the 2021-22 Federal Budget will affect your super

The 2021-22 Federal Budget was recently announced. Here’s a brief summary of the proposed changes that may affect your super from 1 July 2022.* Quick overview Proposed Changes for Workers Proposed Changes for Retirees Removal of $450 monthly income theshold for super contributions Higher withdrawal limit for First Home Super Saver Scheme Removal of work … Read more

Spouse Contributions

Do you have a spouse who is not working or is earning a low income? If your spouse is either not working or earning a low income, it’s likely their super is significantly lower than your own. Generally, women are more likely to have insufficient super when they retire – in Australia, women retire with … Read more

Co-Contribution and Other Incentives

If your income is under a certain threshold, making voluntary after-tax super contributions before the end of the financial year (EOFY) on 30 June could make you eligible for a government super co-contribution. You may also be able to take advantage of the low tax rate payable in super on investment earnings. If you earn … Read more

Changes to super from 1 July 2021

There are a number of superannuation changes that will take effect on the 1st of July 2021. We’ve summarised the key ones below:   Superannuation guarantee increase to 10% The superannuation guarantee is the minimum percentage of your ordinary time earnings that your employer has to pay into your superannuation fund, if you meet certain conditions. On the 1st of July 2021, the superannuation guarantee will increase from 9.5% to 10%.   Contribution cap increases There are caps on the amount that … Read more