super – Page 2

What are super contributions?

What are super contributions? A super contribution is money that’s deposited into your super account, either as an ongoing payment or as a one-off. Usually made by you or your employer. For more information on super contributions, please go to https://www.amp.com.au/superannuation/super-contributions/guide Get more insights about growing your super and investing your money: https://www.amp.com.au/insights/grow-my-wealth Subscribe to our AMP YouTube channel for the latest information and smart tips on money, investing and living your best retirement. Subscribe …

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Rising bond yields and the end of the super cycle bull market in bonds | AMP Capital

Rising bond yields and the end of the super cycle bull market in bonds Key Points It’s normal for bond yields to rise in economic recoveries but it’s looking increasingly likely that the nearly 40-year super cycle decline in bond yields is over. This will remove a key tailwind for investment returns over the decade ahead but as we have seen this year bond yields are unlikely to go up in a straight line. Introduction …

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The Work Test And Work Test Exemption Explained

The work test and work test exemption explained If you’re aged 67 to 74 and want to make voluntary super contributions, you must meet a work test, unless you qualify for an exemption. See what you need to know. If you’re an older Aussie looking to make super contributions, you may have noticed more rules begin to apply as the years go on. If you’ve heard people talk about the work test and work test …

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Planning a career break? Here’s how to manage your superannuation

Planning a career break? Here are tips to help keep your super on track Whether you’re doing it because you want to travel, study or start a family, taking a career break can really affect your financial future. Thankfully, there are ways to help keep your superannuation in shape. Whatever your stage of life, there are several reasons for planning a career break. In some instances, leaving the workforce won’t impact your super. But in …

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Planning ahead for the new financial year | AMP Capital

Planning ahead for the new financial year As history shows, a new financial year usually brings new opportunities in super and the commencement of the 2021/22 financial year is no different. From 1 July 2021, indexation of the contribution caps, Transfer Balance Cap (TBC) and Total Super Balance (TSB) takes place. Then there’s the announced continuation of the 50% minimum pension requirement, which has been in place for the previous two financial years. Indexation of …

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The superannuation health check | Money & Life

The superannuation health check Does your super deserve a clean bill of health? Managing your super might seem tricky, but it doesn’t need to be. With a few simple tweaks, you can put the basics in place to last you a lifetime. Here’s how to do a quick and easy health-check on your super. It’s likely that your super will provide much of your income in retirement, so it’s worth spending a little bit of …

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Indexation allows for higher super contributions from 1 July, 2021 | AMP Capital

Indexation allows for higher super contributions from 1 July, 2021 Making super contributions after 1 July this year comes with a nice surprise as the concessional and non-concessional caps have been indexed along with the increases to the Transfer Balance Cap and Total Super Balance Cap. So how do the contribution changes work? Increase in concessional contributions cap Indexation of the standard concessional contributions cap takes place in increments of $2,500, calculated on increases …

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Transfer balance cap increase

Transfer balance cap set to increase to $1.7 million The amount of super savings that can be transferred into a retirement pension (whether you have one or more than one) will increase from $1.6 million to $1.7 million on 1 July this year, but not for everyone. Currently you can transfer a maximum of $1.6 million from your super savings into a retirement pension (or pensions) to generate an income after you’ve finished working. However, from 1 …

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New laws to protect your retirement savings

The laws to protecting your retirement savings Around 40% of working Australians claim they don’t have life insurance1. Yet, with 13.5 million insurance policies inside super2, it’s likely many people may have life insurance without knowing it3. The bigger picture There’s a good chance, at some point in your career, you joined your employer’s default super plan – this is the plan your employer pays super into if you don’t nominate your own. Perhaps it …

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Make a plan for your tax refund

Some ways to use your tax refund for a stronger financial future Not sure what to do with your tax refund? Strategic financial decisions for your tax return begin with a strong plan. Whether you breeze through tax time or dread the extra admin, receiving a tax refund makes the effort worthwhile. For many of us, getting a financial boost will be even more welcome this year, and you might be looking around for the …