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Super Tips
AUSTRALIAN
SUPER CALCULATOR
Author:
AustralianSuper
The Federal Government is
taking an increasingly active
approach to superannuation.
This can be seen in the
many changes to superannuation
legislation that were proposed
in the 2006/07 Federal Budget.
Legislation to give effect
to these changes is expected
to be presented to Federal
Parliament in the next few
months. They demonstrate
the Government’s interest
in helping workers to maximise
their superannuation withdrawal
benefit. Some of the key
proposals are outlined below.
Superannuation
tax cuts
Superannuation
benefits, paid either as
a lump sum or as a pension,
will be completely tax free
for people aged 60 and over
(unless paid from untaxed
sources as is the case with
some government superannuation
schemes). For those under
age 60, benefits will still
be taxable, but on a simpler
basis than the current rules.
Reasonable Benefit Limits
(RBLs) will be abolished
for all members.
Accessing your super
Previously,
anyone who had reached 65
and was no longer working
had to withdraw their superannuation
benefit. Under the new rules
you will be able to leave
your money in super for
as long as you want, as
the age restrictions will
be removed. You will be
allowed to take your benefit
as a regular income stream
or leave it in super and
draw down on it when you
need or want it.
The
rules for when you can access
your superannuation won’t
change that is, you will
still be able to access
your superannuation once
you reach preservation age
and have retired, and from
age 65 even if you have
not retired.
Providing your tax file
number
One of the key outcomes
of this year’s Federal
Budget is the need for all
members to disclose their
TFN to their superannuation
fund. It will not be a legal
requirement, however failing
to do so, pending the passing
of the legislation, will
result in more severe consequences.
Any
employer and salary sacrifice
contributions over $1,000
will be subject to the highest
tax rate; and your super
fund will not be able to
accept any after-tax voluntary
contributions that you make
to your super.
There
will be a period of adjustment
to allow individuals time
to update their superannuation
fund with their TFN, however
you should attend to it
now so you don’t get
caught out. Log on to your
online account or view your
most recent statement to
check whether we’ve
got your TFN on file. If
not, you can advise your
TFN in MemberOnline or by
calling us on 1300 300 273
Author:
AustralianSuper
Members
investing in the ARF Balanced
Investment Option and the
STA Balanced Plan, have
had their superannuation
savings boosted following
further strong investment
returns in 2005/06. Superannuation
funds generally achieved
solid returns last year
but ARF’s and STA’s
results were significantly
better than the median return
of comparable funds, estimated
at 14.2% in the SuperRatings
survey.
The
two Funds not only outperformed
the benchmark but both finished
in the top five performing
super funds for their Balanced
portfolios*. The ARF Balanced
Investment Option returned
17% while the STA Balanced
Plan returned 18.1%.
And
it wasn’t just the
Balanced portfolios that
exceeded expectations. The
ARF Active Investment Option
achieved 18.84% and the
STA Shares Plus option returned
21.22% against a benchmark
of 17%^. Even the ARF Stable
Investment Option and the
STA Low Risk option achieved
above-average returns for
their class, delivering
8.49% and 9.53% respectively.
These
final returns for ARF and
STA are good news for AustralianSuper
members, suggesting that
the merger will bring together
a wealth of experience in
administering high-performing
and diverse investment portfolios.
And with the combination
of low fees, these above-average
returns also mean more in
members’ accounts.
Guiding help
1.
Findng superannuation can
be extremely diffucult,
however a search at the
ATO site or contact them
directly can easy the pain
of searching furthermore
- 13 28 65. Note: A Tax
File Number will be needed
to complete the search.
2.
Ausfund - Australia’s
Unclaimed Super Fund: is
committed to re-uniting
members with their lost
superannuation.
3.
ASIC can provide you with
all areas of searching.
NSW - The Public Trustee
of NSW - Unclaimed Monies
Search
QLD - The Public Trustee
of QLD - Unclaimed Monies
Search. VIC - The State
Trustees of Victoria - Unclaimed
Monies Search. SA - The
Department of Treasury &
Finance South Australia.
WA - The Public Trustee
of Western Australia - Unclaimed
Monies Search
ACT - The Public Trustee
of Australian Capital Territory
- Unclaimed Monies Search.
TAS - The Public Trustee
of Tasmania - Unclaimed
Monies Search. ASIC - Australian
Securities and Investments
Commission ASIC Unclaimed
Monies Search
Search
any Industry Super Funds
that you used to work for:
ie like the table above.
4.
Previous Employers could
be the anwer: You will need
to contact any of your previous
employers and ask them which
superannuation fund they
contributed your monies
into.
Australian
Taxation Office Superannuation
Helpline 131 020 or visit
www.ato.gov.au/super
Superannuation
Complaints Tribunal 131
434
Department
of Employment, Workplace
Relations and Small business
1300 363 264
Association
of Superannuation Funds
of Australia at www.superannuation.asn.au
Top
10 super fund returns for
year-ended Oct 08
Fund
Option Result (%)
Vision SuperSaver Balanced
Growth -1.70 
PSSap Trustee Choice -2.07
MTAA Super Balanced -2.14
AUSCOAL Super Balanced -2.37
OSF Super Mix 70 - 2.73
Hostplus Balanced -3.50
Agest Balanced -3.59
Buss(Q) Balanced Growth
-3.60
QSuper Balanced -3.61
Rest Core Strategy -4.03
SUPER
FUND RETURNS - 11 months
to May 31 08
Top
ten
Vision SS balanced +1.26
C'wealth OSF Super mix70
+0.96
PSS Trustee choice +0.95
HOSTPLUS balanced +0.55
MTAA Super - balanced +0.41
AUSCOAL Super - balanced
-0.17
AGEST balanced -0.41
REST - core strategy -0.46
QSuper - balanced -0.61
BussQ - balanced growth
-0.75
Bottom
ten
Legg Mason corp m'trust
balanced -10.76
BT Lifetime Super multi
balanced -8.72
REI Super - balanced -6.64
Combined fund - balanced
-6.47
BT Super - Westpac balanced
-6.38
Asset Super Medium Growth
-6.37
