Looking back at 2017 in superannuation
Superannuation | 4/01/2018 |
5 min read
It’s a new year. And since everyone is slowly drifting back to work after the holidays it seems like a fitting time to look back at the previous 12 months in superannuation.
The biggest story of the year was the government’s implementation of new super legislation. Broad changes impacted everything from pre-tax contributions to pension caps.
Equip’s successful merger with the Rio Tinto Staff Super Fund (RTSSF) grew the fund to 75,000 member and $14.5 billion. Members can look forward to reduced costs in 2018 as we consolidate the funds and pass on the savings.
But the most clicked on blog item in 2017 was a little closer to home. Our article about volunteer work and how to get involved received more than twice as many views as either of the above items.
You can see the full top 5 list below.
How to get involved with volunteer work
The article: We spoke with Roz Wollmering from Volunteering Victoria about the different ways people can get involved with community organisations.
A sample: “The need for volunteering is far reaching and diverse – volunteers support all segments of society from sports, arts and museums, schools, parks, health and community services, refugees and asylum seekers, animal welfare and emergency services. You can do hands-on volunteering, use your professional skills to serve on Boards, or provide pro-bono services in technical areas.”
Equip confirms merger talks with Rio Tinto Super
The article: An official statement from Equip confirming that we were in advanced discussions with the Rio Tinto Staff Super Fund about a merger. The merger would be completed five months later.
A sample: “The Rio Tinto Staff Superannuation Fund is one of Australia’s largest and most respected corporate superannuation plans. Success in this project will clearly reinforce Equip’s reputation as a trusted provider of superannuation benefits and financial advice for employers and their employees.”
Overseas holidays and the Age Pension
The article: Retiring to a tropical island or a rustic Italian villa is a dream for many people, but how do you make it a reality?
A sample: “The longer you’re away the more impact it can have on your payment and associated benefits. In the past you could spend up to 26 weeks away before your payments would be recalculated. This has changed, and from January 2017 your payments may be reduced after just six weeks overseas.”
Understanding the 2017 superannuation changes
The article: The Federal Government’s superannuation changes came into effect on July 1 2017, this primer looked at the updates and what they meant for Australians.
A sample: According to Treasurer Scott Morrison, "This represents the most significant change to protect the flexibility and ensure the sustainability of superannuation in more than a decade. It will enable the system to be future proofed."
Can you retire comfortably with $300,000?
The article: How much do you really need to retire? With people talking about $1 million dollar retirements, we crunched the numbers and looked at a more realistic figure.
A sample: “Most people approaching retirement will draw an income that is a combination of both super and the Age Pension. The key point for people to appreciate is that even relatively modest super balances can make a meaningful contribution to an adequate retirement income when combined with the Age Pension.”
This information is provided for general information only. It does not take into account your personal objectives, financial situation or needs and should therefore not be taken as personal advice. You should consider whether it is appropriate for you before acting on it and, if necessary, you should seek professional financial advice. Issued by Equipsuper Pty Ltd ABN 64 006 964 049 AFSL 246383. MySuper Authorisation Numbers 33813823017672 and 33813823017518 (‘Equip’, ‘the Fund’ and ‘the Equip Rio Tinto Fund’).
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