Super for every superwoman

Transcription

1 Super for every superwoman Presented by Katrina McPhee Senior Superannuation Adviser VicSuper representative VicSuper Pty Ltd ABN AFSL RSE L is the Trustee of VicSuper Fund R

2 This seminar does not take into account your financial situation, objectives or needs. VicSuper recommends you seek professional advice for your own circumstances. This is where we can help you. Contact us today to make a time to see a VicSuper representative. Please read the relevant Combined Financial Services Guide and Product Disclosure Statement which is available at vicsuper.com.au or by calling VicSuper Pty Ltd ABN ("VicSuper") is the Trustee of VicSuper Fund ABN The Trustee holds an Australian Financial Services Licence (AFSL ) under the Corporations Act 2001 (Cwlth) and a RSE Licence under the Superannuation Industry Supervision Act 1993 (Cwlth). Under its AFSL, VicSuper is licensed to deal in and provide financial product advice on superannuation products. This means that VicSuper advisers can address your super and retirement needs with a focus on superannuation strategies. This advice is limited to VicSuper benefit plans and also extends to ESSS Revised, New SERB and Transport Schemes. This advice does not cover assets and investments external to super or comparisons between super funds. VicSuper representatives are paid salaries by VicSuper. No commissions are payable to or received by VicSuper representatives, any other person or entity or VicSuper itself. VicSuper is not owned, aligned or affiliated with any other institution. VicSuper is the Trustee of the Fund and, as the AFS licensee, is responsible for the advice provided.

3 The projections assume after tax investment returns (above inflation) of 4% pa in the superannuation phase and 4.9% pa in the pension phase. These are the 10-year investment return objectives for the Growth Option, which is VicSuper's default investment option Retirement income is assumed to increase at inflation of 3% pa and salaries are assumed to increase at 4% pa VicSuper's account keeping fee of $78 per annum and the administration fee of 0.28% have been taken into account with the projections and an allowance has been made for the capping of the fee of $1,500 per annum. Insurance premiums and any tax payable on withdrawal (before age 60) have not been taken into account. All figures are in today's dollars. For all projections, it is important to note that this information is predictive in character, may be affected by inaccurate assumptions or by known or unknown risks and uncertainties, and may differ materially from results ultimately achieved. The assumptions for the investment returns are based on modelling by Frontier Investment Consulting Pty Ltd (AFS Licence No ). The wage and inflation assumptions are based on analysis carried out by Russell Employee Benefits Pty Ltd (AFS Licence No ).

4 Session outline Introduction to super Superannuation 101 Transition to Retirement Strategy Choosing and Consolidating Funds Investments, Insurance and binding nominations Where can I get help Your time

5 Think of your last holiday. How much time did you spend planning and saving to make sure you got the most from your time? If retirement is the longest holiday you ll take, have you made adequate plans?

6 Superannuation 101

7 When can you access your super? Date of birth Before 1 July 1960 Preservation age 55 years 1 July June years 1 July June years 1 July June years 1 July June years After 30 June years

8 Transition to retirement Age 55 (build super/minimise tax) No TTR Using TTR Gross Income: $70,000 Gross Income: $52,300 (after salary sacrifice of $17,700) VicSuper Non Commutable Pension $14,422 Net Income: $54,653 Net Income: $54,653 Tax Saving: $0 Tax Saving: $623 Super Balance after 5 years $329,631 Super Balance after 5 years $345,118

9 Transition to retirement Age 60+ (build super/minimise tax) No TTR Using TTR Gross income: $70,000 Gross income: $52,300 (after salary sacrifice of $17,700) VicSuper Non Commutable Pension $11,467 Net income: $54,653 Net income: $54,653 Tax saving: $0 Tax saving: $3,579 Super balance after 5 years $329,631 Super balance after 5 years $361,407

10 Types of superannuation funds Do-it-yourself funds Industry Super Fund Public sector employees fund Defined benefit funds Retail Master funds Not for Profit Super Fund

11 Comparing Super Funds. Fees Investments Insurance Advice

12 Get your super sorted checklist Understand where you are at Consolidate your super funds Contribute extra to super Check your investment option Assess whether a TTR strategy is right for you Make time to talk to a VicSuper adviser today

13 VicSuper services Member Centre Bendigo Advice Centre 15 Mackenzie Street Bendigo Vic 3550 VicSuper Website vicsuper.com.au Express Super Advice (over the phone) Super Retirement Planning Advice (face to face)