I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC

Super Facts and Tips

Allocated Pension Plan for Superannuation

The Key Point of Superannuation

The key point here is you can make those ad hoc withdrawals, but you're not compelled to take an ounce of money from super. It's just there if you need it. Everything will continue as normal, and you will have the same business options, structure, payment and disability insurance, and those will continue until you reach the age of 70.

Your income potential will continue as you choose to continue work. You can continue to drop down to a part-time basis as well until you reach the age of 65.

If you are ready to start withdrawing funds regularly from your super, then an allocated pension might be a better option for you. Itís really important to consider a pension because sometimes if your vision of important involves withdrawing a lot of funding and setting off into the sunset, then you might want to consider that.

As you retire, your money needs to work over the next 25-30 years. In fact, research shows that return-generation on your super after you retire will, at least, double those generation life. Now that is simply amazing and staggering. An allocated pension can be a good option for you.

When You Draw Down on Pension

When we draw down on a pension, it's still super money, but you' re allowing it to be withdrawn into your bank account. You have to option to get it paid either monthly, or course, bi-annually, or even annually. You need to get a minimum amount out; that is certainly going to be one of the requirements. You can also calculate the balance of your percentage so you can monitor how your funding is doing.

One of the major benefits of an allocated pension is that the earnings are tax-free. If you are under age 60, any income that you take out of your pension will be accessible. In any sense, it's just like another employer is paying you. So you will need to declare in your tax return, but it won't all be accessible at your normal marginal range. There will be a 15% tax offset.

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