Superannuation strategy: Is retiring later worth it?
Does it make sense to retire later in our superannuation system? Wealth Editor James Kirby has answered your questions.
What’s more, the rules may even get tightened further if the government struggles to get the latest reforms through parliament this month: The opposition has warned it wishes to make more cutbacks, especially for contributions.
Working longer should automatically bolster your super funds — but things are never quite so simple in our complex and evolving pension system.
Wealth Editor James Kirby has answered your questions in his live weekly online Q&A.
Scroll down to the comments section below to read his answers.
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Please note this is a general advice forum — we are not offering personal advice of any kind. James has endeavoured to answer as many questions as possible in the time frame permitted, with a view to helping as many subscribers as possible.
We are planning to produce a series of similar subscriber-only sessions on investment issues that matter to you, and these will be promoted on www.theaustralian.com.au over the coming weeks, so stay tuned. We also cover these topics regularly in the Wealth section.
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Indexation refusal to trigger $8bn tax slug
Labor’s tax on unrealised capital gains is set to raise more than $8bn a year in a decade as more people are slugged, a Parliamentary Budget Office analysis indicates.
The new rule changes set for super are going to make it harder to accumulate savings over your working life.