Managing retirement in the COVID-19 environment

Managing retirement in the COVID-19 environment Investment markets are experiencing significant volatility, and for those planning for or heading into retirement, there’s limited certainty at a time when you likely need it most. Hosted by Lara Bourguignon – Managing Director, Superannuation, Retirement and Platforms at AMP, this webinar is delivered by Darren Beesley – Head of Retirement Solutions at AMP Capital, who gives his perspective on the impact of COVID-19 on retirement plans and the …

Covid-19: Temporary changes to minimum pension payments | Q&AMP

Covid-19: Temporary changes to minimum pension payments In response to coronavirus (Covid-19), the Australian government has temporarily reduced the minimum drawdown for account-based pensions by half. AMP Capital senior economist Diana Mousina and technical services manager Fabian Bussoletti discuss the changes in minimum drawdown amounts and how it can benefit retirees. Watch to find out what the temporary reduction in superannuation minimum drawdown rates can mean for your retirement savings and future income payments. 0:42 …

Dealing with being asset rich and cash poor

Dealing with being asset rich and cash poor Reverse mortgages could be one way to help with living expenses, but they may also erode any equity you have in your home over time. Given longer life expectancies, the rising cost of living and the property boom, more and more retirees find themselves asset rich and cash poor. One option is to downsize to a cheaper home, but this often has major disadvantages. If they are …

All about annuities

  All about annuities  All about annuities Offering a secure income for as long as you need it, annuities are often seen as a safe, but not very sexy option for investing your retirement savings. This animation unpacks the pros and cons of annuities.   Online source: Produced by The Financial Financial Planning Association of Australia and published on 25 January 2018.  Original article.    

Understanding different types of retirement pensions

Understanding different types of retirement pensions We explain the difference between the government’s Age Pension, a transition to retirement pension, and an account-based pension. If you’ve heard the term ‘pension’ being thrown around, you may have picked up that there are many types of pensions available in Australia. We explain the difference between three commonly used pensions, including the government’s Age Pension, a transition to retirement pension, and an account-based (or allocated) pension, so you’re …

What is the retirement age in Australia?

What is the retirement age in Australia? With no definitive retirement age in Australia, the date you exit the workforce will probably come down to personal circumstances and whether you can afford it. The age you retire in Australia isn’t set in stone. You can really retire whenever you want to, but health, financial commitments and your ability to fund the lifestyle you want will play a big part. For this reason, you may want …

Are you prepared for the changes to the Age Pension assets test?

Are you prepared for the changes to the Age Pension assets test? How the assets test will work in 2017 could increase your Age Pension entitlements, or take some or all of them away. With revisions to the Age Pension assets test just around the corner, it’s important to understand how the changes could impact you, particularly with part-pension thresholds somewhat tighter than initially projected. These thresholds are the value of assets you can own …

Changes to the Age Pension assets test

  Changes to the Age Pension assets test The government’s recent changes to the Age Pension could affect your ability to plan for a comfortable retirement. Recent reports[1] suggest that more than 300,000 Age Pensioners will have at least part of their pension cut, with just under 100,000 of these people losing all Age Pension entitlements, taking effect from January 2017.  The Age Pension and assets test explained The Age Pension provides income support and …

A growing family doesn’t have to blow the budget

A growing family doesn’t have to blow the budget If you’re thinking of expanding your family, be sure to keep on top of things financially. Having a family usually comes not just with extra expenses but also a drop in income as one or both of you take time off work. Raising children and growing your family can be one of life’s greatest joys. But it can also be costly. You’ll need to plan ahead …