How long can I contribute to super - Superannuation, Retirement Pension and age limits

How long can I contribute tot super?
Can I have super and a pension funds at the same time?
What are age limits for contributing extra to super?

If you are retired already, you can still open a new superannuation account, subject to meeting the age eligibility I’ve just explained.

As a matter of fact, as long as you are within the age range, you can decide how you wish to split your savings:

You can keep all your savings in super for as long as you wish, there is no rule that you have to move funds to an income stream at all.

It would be a bit silly though, considering that the pension account is 100% tax-free haven, no income tax, no capital gains tax, no tax payable on your pension payments,

You can transfer only a portion of your super to a pension account and keep the rest in super, if this is a better strategy for you

If you already have savings in any kind of an income stream, so you have retired, but you are within the allowable age to make contributions, you can always open a new superannuation account and make your contributions up to the limit.

If you have retired and you moved money to an income stream, you can move them back to super if needed

If you already retired, there is no rule you have to have one income stream, as a matter of fact you can have as many as you wish, which often I could recommend to my clients for the purpose of assets security, income protection, diversity or Age Pension benefits.

The same applies to your super, there is no rule that says you can only have one super account, you can have as many as you need.

Super funds advertise superannuation consolidation as a highly recommended strategy as you can save on ongoing fees. And sometimes it is correct, however often there are reasons why I would recommend more than one super account, and in most cases, this is for estate planning or tax reasons.

To download the book 12 PRINCIPLES OF INVESTING:
https://ebook.aboutretirement.com.au/12-principles-of-investing-download

Contact details:
Katherine Isbrandt of About Retirement
Website: https://aboutretirement.com.au/
Email: hello@aboutretirement.com.au

Or connect with me:
https://www.facebook.com/katherineisbrandt/?modal=admin_todo_tour
https://www.linkedin.com/in/katherineisbrandt/
https://www.instagram.com/katherineisbrandt
https://www.pinterest.com.au/katherineisbrandt/pins/

FSG: https://aboutretirement.com.au/wp-content/uploads/2020/02/FSG-2019-A4-Online-version-4.2-July-2019.pdf
My Adviser Profile: https://aboutretirement.com.au/wp-content/uploads/2020/02/Adviser-Profile-Katherine-Isbrandt-v4.2-1.pdf

#KatherineIsbrandt #Aboutretirement #CanIAddToSuperInRetirement

Видео How long can I contribute to super - Superannuation, Retirement Pension and age limits канала About Retirement TV