Hi Bec, thank you so much for your update email on the super caps. Your articles and emails are so valuable to those of us who are retired or about to retire. Not only is super quite a complex area but many of the rules change on a regular basis so your updates are indispensable. You are truly the "Super-Queen"!
Hi Bec. I have been really enjoying your advice and writing over the past 12 months. I just read your piece in the SMH about January and wanted to add that I wrote a Substack piece called "Uncertain January". It was inspired by my 22-year-old daughter, who, while she wasn't wondering when she could retire, she was wondering what she was going to do now that Uni had ended. For the first time in a long time, my January has been uncertain, but never more optimistic because I did quit my job!!
This piece really made me think about the precision of these indexation models. What if the lag in AWOTE reporting creates a temporary misalignement for those nearing retirement?
Having just completed your epic retirement course last year (great course by the way) I couldn't find an opportunity to ask a question I have about TBC.I'm getting conflicting
info from everyone I ask, including the ATO & super companies & as you have just mentioned it in your weekly email I thought now would be a great time to see what you say.
If you already have a retirement/pension income stream from a super company & want to increase this amount, I've been advised that you need to dissolve the existing pension income stream by moving all of the existing funds back into the accumulation stream (I didn't close this stream when I created the pension stream). Then add the additional amount you want into the accumulation stream & then create a new pension stream consisting of the new amount taken from what's in the accumulation stream.
My question is, does the original amount that was in the pension stream get counted along with the new amount towards your TBC or is it just the new amount in the pension stream thats counts as your TBC
Hi Bec, thank you so much for your update email on the super caps. Your articles and emails are so valuable to those of us who are retired or about to retire. Not only is super quite a complex area but many of the rules change on a regular basis so your updates are indispensable. You are truly the "Super-Queen"!
Hi Bec. I have been really enjoying your advice and writing over the past 12 months. I just read your piece in the SMH about January and wanted to add that I wrote a Substack piece called "Uncertain January". It was inspired by my 22-year-old daughter, who, while she wasn't wondering when she could retire, she was wondering what she was going to do now that Uni had ended. For the first time in a long time, my January has been uncertain, but never more optimistic because I did quit my job!!
This piece really made me think about the precision of these indexation models. What if the lag in AWOTE reporting creates a temporary misalignement for those nearing retirement?
Hi Bec
Having just completed your epic retirement course last year (great course by the way) I couldn't find an opportunity to ask a question I have about TBC.I'm getting conflicting
info from everyone I ask, including the ATO & super companies & as you have just mentioned it in your weekly email I thought now would be a great time to see what you say.
If you already have a retirement/pension income stream from a super company & want to increase this amount, I've been advised that you need to dissolve the existing pension income stream by moving all of the existing funds back into the accumulation stream (I didn't close this stream when I created the pension stream). Then add the additional amount you want into the accumulation stream & then create a new pension stream consisting of the new amount taken from what's in the accumulation stream.
My question is, does the original amount that was in the pension stream get counted along with the new amount towards your TBC or is it just the new amount in the pension stream thats counts as your TBC
Rescue a whippet furkid, about 12mths old... you'll be walking 10,000+ steps from the demanded 3 walks a day!
The increases in the various caps is the first formal news I've seen about them. Thanks Bec