James Kirby answers your superannuation questions

Our Wealth Editor has answered your questions on all things superannuation. Here are the key take-aways.

Months of closed-door deal-making and bargaining have shaped Australia’s new superannuation rules and every investor needs to be aware of how they impact their personal wealth planning.

What does the scrapping of the “lifetime cap” on super contributions mean for you? What about the annual limit on non-concessional contributions of $100,000?

A clear understanding of these changes to how Australians plan for their retirement is crucial, as The Australian’s Wealth Editor James Kirby explained earlier today in a live lunchtime web Q&A to discuss all things superannuation.

Key questions included whether the $1.6m transfer balance cap for superannuation will be indexed - the answer is yes, it will be indexed to inflation.

There were also a lot of questions about the potential to ‘top up’ the $1.6m if it were to decline dramatically - a stockmarket crash for example. Unfortunately you cannot ‘top up’ except in exceptional circumstances such as bankruptcy and fraud.

James Kirby will return to the issues that surfaced in today’s Q+A in future editions of The Australian’s Wealth section.

***

Today’s live Q&A with James Kirby has now concluded. Here are a few key articles that may answer some of your questions.

Super system’s reboot gives a degree of clarity at last

Most happy to welcome backdown over $500,000 lifetime cap

Last-minute superannuation winners and losers

Super reforms have unintended consequences

***

Please note this is a general advice forum - we are not offering personal advice of any kind. James endeavoured to answer as many questions as possible in the timeframe permitted with a view to helping as many subscribers as possible. Unfortunately he could not get to all questions and we apologise if your question was not answered this time.

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.