Super & Retirement

How to dump $450,000 into your super in one year

Let’s say you sell an investment property and you have a significant sum of money to invest somewhere – can you dump the lot into super? There is a whole host of rules surrounding how much money you can dump into your super fund and many come under the bring-forward rule, which you should be…

Top DIY Super Strategies for 2010

Australia’s $326 billion self-managed superannuation fund (SMSF) sector is moving strongly back into the sharemarket. According to super portfolio administration, reporting and compliance service provider Multiport, the typical SMSF has lifted its Australian shares weighting from 31.9 per cent at 31 December 2008 to 42.6 per cent at 31 December 2009. And the SMSFs still…

Australia slow on super recovery: OECD

Australian superannuation funds were among the worst performers in the world during 2008 because of their dependence on shares rather than other alternatives, such as bonds. They have also been one of the slowest to recover in 2009, the Organisation of Economic Co-operation and Development (OECD) says in a pension newsletter. Overall, pension systems in…

Super industry may need to consolidate

The head of the federal government’s review of the superannuation system says the average managed fund in Australia is “too small” on a global scale and further consolidation may be in store. Jeremy Cooper, who heads the review set up earlier this year, says while “forced, heavy handed” government intervention would not be right, the…

Australian super admin costs ‘may fall’

Lowering administrative costs and the improved disclosure of fees to enhance competition should be the focus of the superannuation industry and its regulators, a study finds. The study, by accounting firm Deloitte and Investment and Financial Services Association (IFSA) found Australian superannuation fees compared well with countries such as the US, UK, Japan and Denmark…

Investor confidence in super funds dives

Almost one in four superannuants are considering switching funds because of poor returns since the global financial crisis began last year, a survey finds. The survey, of 5,600 investors by independent researcher Investment Trends, also found that 54 per cent of respondents no longer trusted their fund managers and would rather invest their savings themselves….

Super funds post fifth straight monthly gain

Superannuation funds have posted the fifth straight month of gains in July and have begun recovering the losses caused by the global financial crisis, a report says. Research firm SuperRatings on Monday reported that the median balanced option fund returned 3.62 per cent in July. “This is a strong positive result for superannuants as their…

Super investors ‘should get back in’

Superannuants who’ve seen their retirement balances shrink because of the global financial crisis should consider reinvesting in the share market to recoup their lost wealth, an investment adviser says. HLB Mann Judd wealth management partner Jonathan Philpot said investors in the 40s would have diminished returns when they eventually retire unless they aggressively recoup their…

Tax free pensions & DIY super

I have just turned 55 and have retired. I am currently living off savings. I intend to start a SMSF in the new financial year. My aim is to earn enough income to support a modest lifestyle and grow my super. Do you need a different SMSF structure from an accumulation fund to enable a…

AMP defends strength of super industry

AMP Ltd chief executive Craig Dunn has called for balance in the government’s review of Australia’s superannuation industry, saying it is the envy of other countries. Super has cushioned Australia against the full impact of the global financial crisis, the head of Australia’s largest super fund manager said on Wednesday. “Superannuation has enabled our nation…