Each type of superannuation plan has its benefits, limitations and different strategy options. Download our Superannuation ebook below for a complete guide on superannuation strategies, or contact us for a personalised plan.
Superannuation in Australia – how it works
As soon as you begin employment, earning $450 or more a month, your employer will start contributing to your super. They are required to pay each employee 10% super in each pay cycle.
The funds put into your super account are then invested, and the growth is reinvested, to assist in growing the balance. Once you retire and no longer receive an income, your superannuation can be accessed as opposed to relying solely on the age pension, to support your lifestyle.
The different superannuation structures that we work with include:
- Industry Superannuation Funds;
- Public Sector Superannuation Funds (CSS & PSS defined benefit and PSS accumulation plans Military Super and DFRDB);
- Semi Managed Superannuation Funds (retail superannuation funds); and
- Self Managed Superannuation Funds (SMSF)
As with all financial planning the first step is to determine your financial goals for life. This will often assist with determining which structure is right for your needs. The next step is the development of an investment strategy. This investment strategy will document and outline the approach on ‘how’ to achieve your goals.
Self Managed Super Fund Trustees (SMSF)
We can assist trustees at any phase of the SMSF Life cycle including:
- Establishment of your SMSF;
- Creation and documentation of your investment strategy;
- Consolidation of your super assets;
- Salary Sacrifice and save tax;
- Transition to Retirement (TTR) Strategies
- Setting up Reserving Strategies to meet your estate and family wealth creation plans;
- Manage and pass wealth to future generations in a tax effective manner;
- Wind up of your SMSF.
As specialist advisers with the Self Managed Super Fund Professionals Association of Australia (SPAA) we can assist you with advice at any life stage of your Self Managed Super Fund. Our unique advice approach means we can work with clients on a once off advice arrangement to keep you up to date on legislative changes or ongoing advice services to assist with annual investment review, taxation and financial statement reporting and compliance requirements. Our fixed fee structure means you know what services you are paying for in a transparent way.
Download Your FREE Copy Of Our Superannuation Guide
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