Published on 16 May 13
by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE
While building up superannuation is important to provide for a comfortable living in retirement, just as important is how you take your superannuation benefits. Understanding the options available and how best to structure payments can save money and any pain that may arise in getting it wrong.
This paper covers:
- lump sum or pension or combination
- taxation of superannuation benefits
- are reversionary pensions still useful?
- binding death benefit nominations
- timing of benefits
- latest strategies and traps to snare the unwary
- ATO view on pensions, TR 2011/D3.
Mike has been a senior consultant in the technical
team at MLC Advice Solutions for over nine years. His role is to
assist financial planners in the areas of superannuation, taxation,
estate planning, social security and investments. He has over 34
years experience in the financial planning and funds management
industries. Over this period he has headed up several technical
teams and also developed several superannuation products,
including the first allocated pension.
- Current at
18 February 2013