Time to enjoy
What’s on the horizon for super?
July 7th, 2021
As we kick off a new financial year, it’s a good time to look ahead and consider what’s in the pipeline for super. Are there any changes on the horizon that could affect you or benefit your balance? Below, we’ve summarised key changes for super that occurred on 1 July 2021 or are planned. MORE SUPER FOR WORKERS On 1 […]
Are you a COVID cash switcher?
July 7th, 2021
Investing can be emotional. That’s never been truer than the early months of the COVD-19 pandemic last year, when share markets resembled a rollercoaster with more drops than climbs. Nobody likes watching their balance fall, particularly if you’re close to retirement and your super isn’t just future savings – it’s your income. It makes it […]
Higher limits for first home savers
July 7th, 2021
Saving for a first home deposit is challenging. Now that we’ve stated the obvious, what can you do about it? You might be surprised to learn that over the last few years the Government has made some changes to super so first-time buyers can save faster for a home using their super account. While this sounds great […]
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 […]