Retirement planning & Superannuation

retirementPreparing for retirement can be a stressful and uncertain time…

Your standard of living during retirement is becoming increasingly dependent on how well you take advantage of the most tax-effective form of retirement savings – superannuation. The minimum payment to a super fund during your working life may not be enough for you to sustain the lifestyle you wish for when you retire.

For most people, superannuation will be paid to them as a retirement benefit in either a “lump sum” or as a lifetime pension. In some funds, the member has a choice between the two. This is a critical decision.

Pre-retirement advice from a financial planner can be extremely valuable in helping you decide how you should take your super benefit, taking full account of all tax considerations and social security entitlements, and devising an investment strategy that meets your personal needs.