Time to enjoy
Budget changes to super: more super for a first home and the end of the “work test” for older Australians
May 12th, 2021
The 2021-22 Federal Budget has been handed down, with several changes to super and retirement being announced. Most were adjustments to existing rules, rather than sweeping changes. We’ve summarised the key points for members below. FIRST HOME BUYERS CAN SAVE EVEN MORE OF THEIR DEPOSIT IN SUPER UNDER THE FIRST HOME SUPER SAVER SCHEME. The current situation: Eligible first home […]
You could save 10% more into your super from 1 July
May 12th, 2021
From 1 July the amount you can contribute to your super will increase by 10%. That’s because the Government is lifting the contribution cap limits on concessional (before-tax) and non-concessional (after-tax) contributions. Here are the new caps, effective 1 July this year. Financial year (FY) 2020/21 (current FY) 2021/22 (next FY) Concessional (before-tax) contribution cap $25,000 $27,500 Non-concessional […]
The 3 phases of retirement – and how they affect your spending
March 2nd, 2021
Just like during our working life, how much we spend in retirement, and on what, depends on our ever-changing circumstances. Sometimes – like when your washing machine breaks down and floods – we’re hit with unexpected costs. Other times – like when the kids and their families start visiting you more often and your car […]
Are there benefits beyond the Age Pension?
March 2nd, 2021
In Australia, we enjoy the safety net of the Age Pension to help us pay our way in retirement. But what other concessions could you be entitled to if you are on the Age Pension, or of qualifying age? We take a closer look at what’s available for the older generations. Pensioner Concession Health Card […]
Get retirement advice that goes the distance
February 5th, 2021
Planning for retirement can be stressful, exhilarating, and hard work! So, what happens once you’ve officially hung up the boots? Is there much First Super can do for you, apart from protecting your investment? We believe the answer’s a resounding yes. In fact, our Financial Advice Team* can support you with big or small changes at any point along your retirement journey. Have your circumstances changed? It’s useful to review your retirement finances every now and again, especially if your situation changes. A big change, like […]
From the CEO: pension fund 2020/21 mid-year investment update
February 5th, 2021
After a turbulent 2019/20 financial year, it was heartening to see investment returns firmly in the positive for the first half of 2020/21. Global share market performance was varied early in the 2020/21 financial year. As economies and businesses slowly started to recover from the impact of COVID-19, the US and China produced large positive […]
CAN YOU CONTRIBUTE TO SUPER IF YOU’RE NO LONGER WORKING FULL-TIME?
December 15th, 2020
In recent years, super contribution rules have been relaxed to give members more opportunity to add to super as they grow older. Here’s an overview of how you could keep your super growing as you near retirement and, possibly, afterwards. Employer contributions If you’re still working part-time and earning $450 or more per month from […]
Super advice for the season
December 15th, 2020
You’re never too young or too old for some quality advice about your super. But sometimes it’s not easy to know where to start – or even what to ask. To give you a better understanding of the advice services we offer, here’s a breakdown of some of the topics we help our members tackle. […]