Step Ahead - July 2016
Step Ahead, the retirement planning issue

Stay a Step Ahead!

This month’s issue is jam packed with retirement planning advice considerations, particularly how Age Pension plays a part in retirement for around 76% of Australians.

The rules for Age Pension are changing on 1st January 2017 and to be future ready we have provided a series of articles in this newsletter and are also running a seminar next Wednesday 20th July. This is a must-attend event for anyone who receives Age Pension currently or expects to be entitled in the future. See below for details and to RSVP.

These changes are simply too big to be ignored and there are practical planning decisions that can be made to help improve the outcome of retirement income.

The articles in this issue vary in detail and complexity, with the third article, How to save more for your retirement with annuities, being the most detailed in providing one potential strategy to achieve a better end result.

We know retirement is not a topic that is going to benefit all of our readers directly this month. However, you will be doing a loved one a favour if you take the time to forward this information on to someone you think will benefit.

Have a wonderful day!

James McFall and the team at Yield.

Is Centrelink in your retirement plan? Get the benefits you deserve

Over the past 10 years the rules to Centrelink have changed considerably. They are set to change again in January 2017, however many people nearing retirement don’t understand how Centrelink may fit into their retirement plan. It is more straightforward than it has been for years to get the Centrelink benefit you deserve, so ensure you know what you are entitled to and how your entitlement can be brought into your retirement mix.  

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Changes to the Age Pension rules — will you be affected?  

From 1 January 2017 Government changes to the Age Pension are likely to reduce pensioner entitlements. People with assessable assets of between $451,500–$823,000 will be negatively impacted by the changes and we have devised some strategies to combat this. It’s important that you understand how the changes could affect you. After all, most retirees want security and peace of mind that they can enjoy their retirement years knowing their financial strategy is clear.  

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How to save more for your retirement with annuities

A key component of retirement advice is assisting retirees to achieve their income goals. With approximately 76% of all people age 65 or above receiving a Centrelink/DVA government pension, strategies to help retirees maximise their age pension benefits are important. People who see their age pension reduced (possibly to zero) from 1 January 2017 will be looking for advice to help them continue to meet their income goals. In this article, we look at an example strategy to cushion retirees from these changes.  

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Join us at our complimentary Age Pension seminar on Wednesday 20 July

We would like to extend an invitation to our next seminar where we will be focusing on age pension. Retirement expert Prashant Nagarajan, is joining us and we're excited to hear his insights on how changes to the age pension eligibility rules will impact financial plans. Registration is free but spaces are limited and there has been a strong take up to date so RSVP now so you don't miss out.   Read more and RSVP
Wednesday 20 July
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