Wealthy retirees forced to double their superannuation fund withdrawals on July 1 are planning to gift the extra money to their children and grandkids as high interest rates accelerate generational wealth transfers, financial advisers say.
Pandemic measures halving the drawdown rate – the minimum amount that retirees must take out of their superannuation every year – lapse on Saturday.
Lucy Dean writes about wealth management, personal finance, lifestyle and leisure, based in The Australian Financial Review's Sydney newsroom. Connect with Lucy on Twitter. Email Lucy at l.dean@afr.com
