Super Update for 2018 FINANCIAL WELLNESS Personal & Business - - PowerPoint PPT Presentation

Super Update for 2018

FINANCIAL WELLNESS

Personal & Self-Managed Super Funds Retirement Planning Strategies Wealth Creation, Education Plans & Personal Investment Portfolios Wills & Estate Planning Personal & Business Insurance Home & Investment Property Mortgage Solutions Equity Lending for Share Portfolios Superannuation

SUPER SOLUTIONS

The Government introduces the concept of the old Age Pension for the 1st time in 1900 Life Expectancy = 51 years of age

SUPER SOLUTIONS

There are now 3.3m retired Australians, of which 2.4m currently rely on the Age Pension as their primary source of income. Life Expectancy Male = 80 years of age Female = 85 years of age

WHY SHOULD WE PLAN FOR THE FUTURE?

Year Male Female 2016 80.4 84.6

Source: Australian Bureau of Statistics, October 2017

Life Expectancy

Sources: Australian Government Department of Human Services, Mar 2018 ASFA Retirement Standards, September Quarter 2017

Single Couple Per year $21,481 $32,385 Pension – Maximum Basic Rate Single Couple Per year $44,011 $60,457 Comfortable Lifestyle

Ensure your company default super fund is competitive and right for you. Assist you as an employee to make informed choices for a successful financial future. Approaching retirement - providing the most appropriate tailored

• ptions for you.

Providing comprehensive financial advice.

Employee Employee Employee

HOW DO WE SUPPORT YOU?

Ensure that your super is on track:

• Make sure you open your annual statement or monitor your super ‘online’
• Understand the fees you are paying
• Do you have more than one super fund? Consider consolidating your super!
• Insurance – know how much cover you have and be aware of how much it is costing you
• Have you nominated a beneficiary?
• Understand where your money is invested
• Review your contributions – will you reach your retirement goals?
• Form a plan for your financial future

SUPER ‘HEALTH CHECK’.

super-advice.com.au/Westgold

IOOF company plan:

• Fees

Member fee $78 pa Admin fee 0.25% of your acc balance MySuper Investment fee 0.50% of your acc balance

IOOF COMPANY PLAN.

300+ investment options ASX Top 300 Online investment changes available MySuper default option IOOF Balanced Investor Trust as at 30 June 2018 1 year 9.90 % 3 year 7.81 %

IOOF company plan:

• Insurance design for Office employees

Life & Total Permanent Disability cover Sum insured formula = 15% x base salary x years to age 70 Salary Continuance Design Insures 75% of your base income Accident & illness 30 day waiting period 2 year benefit period

Asgard company plan:

• Fees

Member fee Waived Admin fee 0.20% of you’re a/c balance MySuper Investment fee 0.50% of you’re a/c balance ICR: 0.15 – 0.27% deducted prior to returns being declared.

ASGARD - PREVIOUS COMPANY PLAN.

300+ investment options ASX Top 200 Online investment changes available

Asgard MySuper age based default options as at 30 June 2018

1 year 3 year 1940’s 3.59% 1940’s 3.13% 1950’s 4.53% 1950’s 3.57% 1960’s 7.56% 1960’s 5.31% 1970’s 10.79% 1970’s 7.02% 1980’s 10.78% 1980’s 6.98% 1990’s 10.72% 1990’s 6.94%

Asgard company plan:

• Insurance design for Office employees

Life & Total Permanent Disability cover Sum insured formula = 15% x base salary x years to age 70 Salary Continuance Design Insures 75% of your base income Accident & illness 30 day waiting period 2 year benefit period

Let us help you take control of your super. If you have any lost super or super spread across multiple accounts, you may consider consolidating it into one single account. This makes it easier to keep track of how your super is growing and could save you paying multiple fees.

Find and consolidate your super on your mobile…

Step 1. Register for a MyGov Account Step 2. Link to the ATO

Find and consolidate your super on your mobile…

You can view your super accounts Consolidate at the click of a button

WAYS TO BOOST YOUR SUPER.

• 2. After-tax contributions

Make Personal super contributions directly from your bank account. Investment earnings within super taxed at 15% Non-Concessional Contributions Cap is $100,000 pa or $300,000 over a three-year period depending on total Superannuation balance.

• 3. Spouse super contribution tax
• ffset

If your spouse’ assessable annual income is less than $40,000, you can potentially make super contributions on their behalf and claim a tax offset.

• 4. Government co-contribution

If you’re a middle to low income earner, adding to your superannuation from after-tax money could see you entitled to a government co- contribution worth up to $500.

• 1. Pre-tax contributions

Up to $25,000 per annum (this includes your 9.5% SG contributions) Salary Sacrifice Personal Deducted

(from your bank account)

• Michelle, 45 years old
• $80,000 salary

CONTRIBUTION EXAMPLE.

Source: AMP Salary Sacrifice calculator amp.com.au https://www.ioof.com.au/financial- advice/tools-and- resources/calculators

THE POWER OF REGULAR INVESTING.

George (age 30)

• Invests $5,000 into the same

managed fund as Sarah

• He adds $1,000 each year until the

age of 65 which means $34,000 Sarah (age 21)

• Has $5,000 to invest
• She invests the $5,000 in a managed

fund at assumed rate of 5%

• Sarah adds $1,000 each year until

age 65 which means $44,000

moneysmart.gov.au

FIRST HOME SUPER SAVER SCHEME.

Commenced 1 July 2017, the Scheme will give individuals the ability to boost savings for their first home. First home buyers can contribute up to $15,000 per year ($30,000 in total) to their super with pre tax (concessional)

• r

after tax (non-concessional) contributions.

https://www3.colonialfirststate.com.au/pers

• nal/guidance/intelligent-investing/how-

you-can-use-super-to-buy-your-first- home.html

YOUR SUPER TEAM.

DISCLAIMER.

The information and any advice in this presentation does not take into account your personal objectives, financial situation

• r needs and so you should consider it’s appropriateness

having regard to these factors before acting on it. When considering whether to acquire a financial product, before making any decision, you should obtain the relevant product disclosure statement. Any outlooks or projections in this presentation rely on assumptions as stated, however actual results may differ materially from these projections. Past performance is not a reliable indicator of future performance. This presentation may contain material provided by third parties and is given in good faith and has been derived from sources believed to be reliable but has not been independently verified. To the maximum extent permitted by law: no guarantee, representation or warranty is given that the information or advice in this presentation is complete, accurate, up-to-date

• r fit for any purpose.

AFSL: 283 049 ABN: 99 111 384 519

QUESTIONS & FEEDBACK.