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Retirement Planning Webinar – 12 July 2021 Australian Catholic Superannuation

I'' ll just wait for a min and after that obtains stuck. Alright. Good evening, everybody. My name is John Cheney. I'' m the local manager for Western Australia and uh this evening, I'' m joined by Jolene Stockwell who is our monetary organizer in the Perth office So, welcome everyone As you might be aware, we weren'' t mosting likely to hold this as one-on-one conferences today as well as Wednesday due to the fact that of the lockdown a number of weeks ago and also as it is the extreme weather warnings This week, we have chosen to um to make these available as webinars. I do thank you for uh altering your plans and also I wish that you get the complete advantage out of this um out of this webinar this evening. So, we'' ve called it the retirement preparation. What you need to know to plan for your future the webinar we expect to compete about an hour.Um I can not offer you a precise timespan however uh basically a hr and afterwards we likewise have the capacity to to take concerns this evening If if the inquiry is not answered. Uh this night, we will absolutely obtain somebody to to get back to you in the next couple of days and uh and also take it from there. Without further ado, I will certainly proceed on if I can. Jolene, can you Thanks. Initially of all, uh we'' ll do a welcome to country. I would love to recognize the standard custodians of the land on which I work and also live as well as acknowledge their proceeding connections to land, water, as well as community I pay regard to elders, past, existing, as well as emerging So, if you have participated in one of these, webinars or seminars in the past, this display will be rather familiar to you. It is our please note and essentially, it'' s informing you that anything that we state tonight is of a general nature and does not think about your individual, monetary circumstance.

. One of my coworkers mentioned um recently, if you can read everything on this page, you'' re not ready for retirement however essentially, uh by by disclaimer, this uh web page, this will certainly obtain uh Jolene and also myself off the hook without risk and compliance group. Thank you for that one. some interesting information as you may well be conscious, Australian Catholic extremely is readied to merge with another fund non-government institution super which is down uh today referred to as NGS Super and we'' re at the stage of due persistance which can take some time and also we'' re really hoping that um very early in the New Year, the 2 funds will collaborate which will certainly an excellent result for the Catholic community in the sense that uh both funds share the very same worths as well as we we uh we share a great deal of typical uh goals and also values as I discussed as well as if the the uh the merge entity pertains to fulfillment, we will have more than 200 thousand participants in the funds as well as over twenty 1.

billion dollars as funds under monitoring. So, that would certainly be a fantastic outcome for for both funds in regards to providing uh sustainability in the future and proceeding the job that we have corrected for over 30 years. Um as in our corresponding funds. So, there is even more information on our website if you most likely to slash Merging and also over the coming as well as months, we will certainly send you more info as it concerns hand however we'' re all extremely fired up about this merger and also um simply waiting on the green light to ahead up for us to proceed with that. Thank you for that. retired life planning as well as establishing objectives for our retired life. Each and also every one of you In this webinar, I'' m sure has various suggestions, various goals in terms of what'' s you ' re looking for in your retirement on this listing, you can see a few points which currently are probably not uh available to individuals Just recently retired.So, for instance, I'' m not sure that lots of people would intend to hop on a cruise ship presently and sadly, not several people can take a trip far from where they live. Obviously, we hope that that will alter in in the future yet that'' s completely out of our hands as well as II do want to send my finest dreams to to anybody who'' s in New South Wales this night as well as as well as on this webinar. um we are all reasoning of you as well as wish that points enhance uh very soon. There'' s a great deal of things there which we can look ahead to and I'' ll now hand over to Jolene that will tell us just how much we need to have for for our retired life. Thank you. Excellent night everybody. Uh thank you for joining us. Um particularly if you'' re personally borders since it'' s the 2nd wave of the storm seems rolling through.So, thanks for

joining us Currently, these standards are this evening with the retirement workshop. we are mosting likely to discuss some things around the age pension plan but we do have age pension plan and also chink certain seminars as well as webinars throughout the year as well. So, if you ' re searching for a much more in depth view on those areas, please'take place to our website on a semi normal basis to look into those as they come up with these lifestyles. everyone that I talk to regarding them is how a lot do I need? And also the inquiry is, well, what do you do? Going back to what I was stating about retirement being different for everybody. This is a guide blog post to assist you see where you sit. So, obviously, if you ' re only on the age pension plan, then, points are going to be a little bit tight, modest. You ' ve got a bit more adaptability and comfy is precisely that but Take a look at that and also see where you sit. It ' s worth recognizing a little bit much more regarding what ' s below those information, alright? If you ' re on the age pension, you may be looking at'actually brief day journeys, you'' ll be selecting and choosing which actually set you back reliable ways you'can consume out regional clubs, affordable takeaways, and it won ' t be a regular thing when the show comes to you, when your license comes due, it will certainly be a wee little bit tight.This is the finest means of placing it. After that, you go up to a small retired life and points obtain a little bit extra flexible. The most effective means of thinking of this is that if things break down, after that, yes, you can manage to fix them. You may not be able to pay for to change them So, that might indicate a little bit extra making. do or conserving up a little much longer whereas, when you ' re because area, after that, you ' ve obtained the versatility to take care of points as they emerge. You ' ve got your private health. You can remain to be quite social as well as'go out I had a really good concern today. In fact, someone said to me, oh, alright so it consists of an annual holiday. Are we speaking Bali or are we Dot? I said, well, That ' s where every person ' s individual circumstance comes in. one annual holiday in Australia. A person might state, well, you recognize what? I can take 2 vacations if I go somewhat more affordable and also someone else may claim, well, in fact, that ' s not rather enough due to the fact that I ' ve obtained family members that live further a field.So, I ' ve obtained to take a trip a'lot even more So, that offers you a little bit of a summary of what do those way of livings

imply.'Simply going back to the numbers briefly comfy for a single. You need 4460 and also a fifty percent for a couple Modest is around twenty-eight for a couple. It ' s just shy of 41 and after that you have the complete pension plan. So, when you ' re taking a look at well, where do'I get that from Then, you ' re looking at points entirely So', with that, If you ' re checking out whatever that you have, you may have your incredibly, you'could have your residence shares, money home, and after that you ' re encountered with the inquiry. If you do have a few of those points, which ones are you mosting likely to use, you know, for some people, they might have a family building that has a substantial amount of nostalgic worth. so, they intend to keep hold of it for as long as possible. For other individuals, it could be a wonderful to have but they'' re quite pleased to, you know, liquidate their rental when and if their retired life needs. Okay. So, the most vital point there is whatever you have, how can you develop it up to make sure that it'' s sufficient Okay.Thank you, Jolene. I

ought to state that we do have AQ and a center on on this webinar. If you have any type of inquiries, please go on to that facility and upload your concern to us and as I mentioned, we we uh we ' ll do our really best to'address them this evening. Um so, just in uh our well-regarded coworker in Sydney is in control of that feature and also at the end of session. Justin will um will locate the concerns at us as well as I'' m really hoping that we'' ll have the ability to um to aid you with that said. also at the end of the session, uh you uh Justin will certainly advise you that there'' ll be an Email thanking you for attending and uh there will be a study, a brief study for you to fill out which you hope you'' ll you will certainly do as well as send back to us. Continuing with super as well as so why why do we have incredibly and as well as what are the benefits of having it tax obligation comes Straight to mind. So, if so, when your company is contributing to extremely Not only is the tax the contributions tax obligation on that employer contribution set at 15% yet likewise the profits in your very is evaluated a maximum of 15% If you contrast that with various other financial investments outside the incredibly, you can see that there'' s rather a difference and uh super annuity ends up being really tax effective.

if we carry on to change to retirement. Sorry, Darlene. Um transition to retirement pension plans. The tax obligation is the same. 15% on any kind of profits however after that it becomes extra fascinating and even much more eye-catching if you go to an account-based pension since at that stage, the tax obligation on any on any kind of earnings is absolutely no When once again, if you compare that with any other investment out there, that is an incredibly amazing and also attractive proposition Thank you. Alright. So, when can you actually access your super and what are the tax obligation effects on those? So, presently, if somebody is age fifty-eight, they can in fact tell their employer that they intend to retire and also have access to their super Currently, this is just a little window because any person who'' s born after First of July.1964. the age that individuals can begin to access their super will certainly raise the age of sixty. As I discussed that there are a variety of people that might remain in that 5859 age braces who are taking into consideration retiring as well as in reality, they they can do that They should take into consideration that there there could can be some tax ramifications because age sixty is the the gold age in terms of taxation. tourist attractions, Um so simply know that if you are under age sixty as well as thinking about retiring, that'' s um they can be a percentage of tax obligation to pay. From age sixty points come to be extra interesting as well as Not just can you access super via what'' s known as transition to retired life account which Jolene will certainly talk regarding in even more detail. um soon um but also if you do retire, you have access to either a swelling sum in or converting some or every one of your super into an alloted pension plan as well as uh as I claimed Jolene, we will discuss that and also um go right into more detail and after that from age Sixty-five, things really do become a lot more eye-catching as well as versatile in terms of what you can um accessibility basically from age Sixty-five whether you'' re functioning or not, you can have full access to your very and also as we saw in the previous slide, the the assaults on um on the earnings.If it ' s in an account by'pension is no as well as if you take it as a round figure, there is no uh PAYG tax obligation to pay on that round figure. So, those are the three age braces which um which currently impacts us So, if we return an action, consider exactly how do we money our retired life? if you ' re still functioning. there, there will be a variety of manner ins which that contributions are being included to your account and also one means which which you can include in your very if you ' re working is through what ' s referred to as wage sacrifice or pre tax'payments Now, remembering that the tax obligation on any type of payments that they made as an income sacrifice payment is set fifteen. 15 %. We can see from this table below. that if you gain more than 18200,$18201, your low tax rate is 19 %. If you are salary sacrificing any of your hard earned cash into incredibly, you are, you ' re currently making an a tax obligation you already have a tax obligation benefit.Um as people have Um higher wages. the the destination and also the benefit enhances a great deal much more based on their minimal tax price.

That that is why wage sacrifice might be of interest to some individuals as well as right here we have an instance of how that functions. So, returning to my previous comment, that income sacrifice contributions are exhausted at 15 %If we look at the middle column, Where this certain person is not making any type of added contributions. The gross income and also this is for an individual who ' s earning 100 thousand$ 100000, the gross income is um 3800 3846$3846. If that exact same person was to take into consideration making salary sacrifice contributions of $192, per Fortnite which works out to be 5%of their wage, The taxable revenue minimizes to 3600 3653 $3653 as well as then you can see the effect that carries take house pay If that individual is not making any extra payments, take residence pay is 2008 2884$2884 compared to take residence pay of 2750$ 2757. If that person is Those certain wage sacrifice payments. So, You can see that there exist are two benefits there. One including added cash to your incredibly and the second with the taxation benefits, What are the restrictions to these contributions that you can make? So, regrettably, extremely innovation has a great deal of

jargon in it and also um our work is to try and also make that simple for you. First of all, I ' m going to talk regarding concession payments and their limits. So, giving in contributions include any company payments which can be wage. incredibly warranty payments, and wage sacrifice payments which I just mentioned your company may or might not be paying extra employer payments and also the last one there is an individual insurance deductible contribution which is something uh relatively recent in Super Annuity and also we ' ll speak about that a little bit a lot more um brief So, up until the thirtieth of June this year, the giving in payment cap was $25000 This has currently changed from the initial of July to 27 27005$27500 for the next year. And as I said formerly, the payments tax for the for that cash is 15 %. Now, a fascinating growth with giving in contributions. So, if you could just go back Jolly is that for the last number of years, you can really capture up on any type of unused giving in or contributions which you may not have made Simple example.If someone had actually made concession, contributions of 2020,$1000 last year, they can currently place in greater than the 27 thousand. 27500 for this specific economic year as well as to capture up um which might have been um a lot more of a quantities that that they had not added the previous

Economic year. So, an excellent way to examine this is to take place to the my Gov internet site because that will certainly inform you what your deductible or your concession contributions have been as well as um if you require more recommendations then, then we can aid you with that said but the um as I said, the confessional contribution limitations have increased for this year as well as I should additionally mention that company. limitation or contribution has gone from 9 and a half percent to 10%from the first of July.So, that might additionally require some further modifications in your reasoning as to just how much you can place in for this economic year. So, that was concession payments. I ' m currently mosting likely to state we ' ll speak about non confessional payments. in English is truly after tax obligation contributions or personal contributions. So, the restrictions for this have also increased from the initial of July from$ 100000 to 110 110 thousand$ 110000 for for the financial year. So, if you ' re under the age of 67, Not just can you make that, if you have this type of cash offered, uh not just can you do that for 1 year however additionally for a 3 year time period.So, basically, what that implies is that if you ' re eligible you might effectively contribute 330 330 thousand$330000 of after tax obligation payments for this economic year and also not make anymore after tax obligation contributions'for the following 2 years. where it becomes intriguing remains in that middle brace. um between the ages of 67 as well as 74. the formerly you needed to satisfy what ' s recognized as a work test which means that you'would have to show if asked that you had functioned 40 hours in a 1 month period in because particular monetary year recognize that that has actually now changed. while doing so, John. So, while doing so. Yeah, it ' s it ' s been proposed with a spending plan to start from 1, July 2022. We are still kind of waiting on it being settled but it does look very, very likely excellent. Okay. That ' s um that may be of some interest to to some of our participants and also if you um some monetary guidance on that, after that, we ' re more than happy to to aid with that and also after that regrettably, from age 75 as well as over no more payments are enabled into super Those are the the limits as well as the age brackets.I will additionally um really briefly speak concerning various other ways which you can add to incredibly downsize'the contributions Now, this was presented a couple of years ago and primarily, it indicates that if you, well, prior to um um thirtieth of June this year. If you ' re age 65 and also over addition to the non giving in restrictions which I revealed you on the previous slide. One of the modifications in the spending plan is that that age limitation of 65 is being altered has actually been minimized to age sixty So, that might likewise be of some passion to some members and if you need a more suggestions on that, we we can assist partner payments. This has been around for for a long time and also the way it functions is that if spouse is gaining even more than the other partner. a payment could be made right into the various other spouses. super an account and the method it functions is that if a contribution of claim$ 3000 was paid into the various other person ' s account, the contributor would certainly get a tax balanced out of 540$ 540 in in their tax obligation return. For some individuals that might be eye-catching as well and also the 3rd one is a loan consolidation you.

The majority of us are now aware that if you have more than one extremely, an account, you ' re paying fees on on each of those accounts as well as um it it may remain in your benefit to think about bringing those uh several accounts all into one account and uh not only does it keep them, is it simpler for you to watch on'on what you have however as I claimed, it additionally reduces the amount of charges that you ' re paying.So, so are a few of the ways that you can contribute right into your account. and I obtain the more fun section I get to speak about how to access your extremely and also what you can do with it. So, I ' m mosting likely to start with round figure and also I ' m going to begin with retirement problems of launch but then, we ' re mosting likely to pay a little bit much more interest to the earnings side of points as well as just how that can function. You ' re permitted to gain access to lump amounts from your super Once you ' ve met a condition of release. ', I ' m going

to function backwards age Sixty-five. This is magic. because it doesn ' t issue if you ' re working a little bit or a whole lot or if you ' ve been with the very same company for twenty years, of you being with a company for 20 minutes.If you are 65, you have full accessibility to your very between sixty and 64, you need to take a few various boxes. Number one, you can retire if you ' ve got the money, you put on ' t desire to work anymore retire. you'put on ' t mean to function 10 or more hours a week, you ' re retired obtained complete gain access to in between sixty as well as 64. If'you'alter companies, any kind of super annuity that you'have collected as well as accumulated as much as that factor, you have access to If you ' re one of the people that have accessibility to your very at age 58, as well as 59, then you can access it with full retirement. So, that is you do not intend to work 10 or more hrs a week The only sting in the tail for any person accessing it fifty to fifty-nine is that there are more possible tax obligation effects Any kind of withdrawal is free of tax. Okay? We see a great deal even more people looking at their very annuity and accessing as well as looking at pension plans from age sixty when those repayments are tax obligation cost-free. So, we ' ve just covering off the super annuity accounts and also taking a look at just how you can build it up. After that, when you ' ve got access to several of it. Now, if you ' re still working and also you ' ve not clicked among those boxes that I pointed out for full gain access to but you may still have the ability to access up to 10%through a change to retired life pension plan, alright? We ' ll have a look at that as well however

some some factors why people may desire to gain access to it is to enhance what they place in. If you ' re looking at the list of all those means that you can place in extra, you recognize, some individuals truly want to take benefit of the tax obligation savings by income sacrificing as much as they can up to all those caps that John mentioned however possibly they can ' t pay for to maybe they ' ve obtained home mortgage dedications and other commitments that they need a certain quantity of cash money circulation. A change to retirement is where you ' re putting in to your extremely however you ' re taking out from your extremely at the exact same time.

I ' m currently going to discuss we ' ll talk regarding non confessional contributions. Yeah, it ' s it ' s been proposed with a budget to start from 1, July 2022. I ' m going to start with swelling sums and I ' m going to start with retired life conditions of release yet after that, we ' re going to pay a bit extra attention to the earnings side of things as well as exactly how that can function. You ' re permitted to access lump amounts from your incredibly Once you ' ve fulfilled a condition of launch. If you ' re looking at the listing of all those methods that you can place in added, you understand, some people truly want to take advantage of the tax savings by wage sacrificing as a lot as they can up to all those caps that John stated but possibly they can ' t afford to maybe they ' ve obtained home loan dedications and various other commitments that they need a certain amount of cash money circulation.It ' s like anything begin Ni away and having a read of it so that by the time you require to consider other people or on your own with it, you ' re a little bit a lot more acquainted with some of the terms and also get to out as well as please ask for assistance because that ' s what we ' re below for. It ' s regarding helping you comprehend that you understand what if you ' re utilizing up your cash money, if you ' re making use of up your very, after that this the end result that you ' re going to have. If you ' re in that certain space or age bracket as well as you ' re you ' re looking for recommendations or info, I must claim you in the webinar, then we ' re able to produce that and uh Jolene additionally stated regarding the age treatment um offerings as well as there ' s a great deal of which which we are able to offer you and they um those webinars have actually now come to be very very popular.

Currently, these are figures as of March, they have indexed up somewhat so they are a little higher due to the 1 July index as well.Okay And a pair this is especially helpful if you have one individual of the couple still working in retirement doesn ' t imply the individual that ' s age pension plan age immediately doesn ' t get it. It ' s like anything begin Ni away as well as having a read of it so that by the time you need to consider other people or yourself with it, you ' re a little bit extra acquainted with some of the terms and also reach out as well as please ask for aid since that ' s what we ' re right here for. It ' s regarding aiding you recognize that you know what if you ' re utilizing up your money, if you ' re using up your incredibly, after that this the end result that you ' re going to have. Jolene and also yourself would certainly sit down as well as go via your budget which we ask from you before the appointment and after that based on the discussion uh Jolene would be able to function out if there ' s any kind of areas which which she can offer advice for you as well as if there ' s no areas or absolutely nothing which um which requires attention.Then that ' s the end of the discussion. If you ' re in that certain room or age bracket and you ' re you ' re looking for suggestions or um information, I should say you in the webinar, then we ' re able to produce that and uh Jolene additionally mentioned concerning the age treatment offerings as well as there ' s a great deal of which which we are able to provide you as well as they um those webinars have currently come to be extremely very prominent.Um for you whether you are an extremely an account participant or a pension plan account participant Um a lot of interactive things and also I do advise that to you. Um all we need is your mobile number and also an Email you know, for you to sign up and um with your customer ID, you are after that uh off as well as running as well as can discover the um you recognize, the numerous tabs as well as what have you on our member portal.So, If you haven

' t done that already II extremely much advise that to you. as well as I see that Justin is currently offered you recognize, I ' ve had concerning four inquiries'coming through up until now. Well, likewise some added ones that participants of us um the information on the slides which Jolene is uh desperately to and answer those concerns directly to those participants as well as um I ' ll additionally simply intend to repeat something that ' s a bit previously concerning the chat box there.I ' ve put via the link.

If anyone desires to make a visit to see Jolene or the restricted guidance team or the John to get to back to you and also I can see below on my E-mails, I get those and also a single person ' s already finished'that currently for a variety of advice. If you did want some more information, please click that link as well as also as John stated, I ' ll be sending a survey in the future this evening for you.Um so, the first concern that we had I am 65 and strategy to proceed functioning until I ' m seventy. Is it worthwhile checking out a TTR or change to retirement? assigned pension. Head on to Jolene to us please. It can be valuable. The main uh advantages if you ' re looking depends on your objectives. If you ' re aiming to change to retired life to assist increase your financial savings, then, it ' s a concern of are you putting in your concession? Contributions up to that 27500 cap, Okay, So', you ' re already adding as a lot as you can, after that, you don ' t require an added help to place in yet if'due to your commitments, you ' re just placing'in Claim 15 thousand. You ' ve obtained that spaces that you might increase to. Then a shift to retired life can help offer you with the earnings while increasing up your pretax payments, fine? Accessing those tax obligation savings is one benefit of the change to retired life. The various other advantage is merely if people want added earnings, possibly they want to reduce their hrs yet maintain their pay the same. It depends on the goals. If there ' s a for rise in income. If there ' s an objective for keeping revenue on minimized hrs or accessing those tax financial savings and also those are kind of the regular trigger points where we claim yes, it ' s CTR can aid people keeping that. Alright, thanks Jolene and also I think possibly one other thing just to note for that specific member since he ' s over 65. It'' s truly simply a typical designated pension. actually, isn ' t that the CTR lower the sixty-fifth birthday. exactly. Yeah. No.

As well as Sorry. you. I was simply mosting likely to state as well as those typical account-based'pension plans with tax obligation free incomes. They ' re wonderful. When you get them Absolutely, definitely. Uh the following inquiry I ' m going to direct to you, John. Um so, this one is for non consensual'contributions to super, what what is the tax obligation rate relevant? That is on input not incomes. Alright, can you repeat that again? Yes, so for non concession contributions to incredibly what is tax rate relevant. That gets on input not earnings. So, if somebody ' s putting cash into Super Anu as a after tax contributions, fine? Um the bright side exists is no tax obligation on those contributions. The'suggestion is that at some point in its life, the cash which you are taking into very an account has already paid a tax obligation has actually been paid on it.Um Therefore, it would certainly be deemed unreasonable for that to be tired once again. um as an after-tax payment into your extremely. The great information is that there is no tax obligation Many thanks, John.

Um the next concern, I ' ll speak with you. Jolene is what are the benefits of after tax obligation payments? John ' s has talked around, I guess the there ' s no tax obligation as well as after that what are the advantages'of doing it? Certainly, the large of is funny is you ' re putting more cash into your retired life cost savings and that cash is'spent. It ' s going to be trying to gain more revenue for you depending on your financial investment selection yet there are a couple side advantages. One of those I discussed previously is that if by possibility,'you ' re accessing money before age sixty, after that those after tax obligation contributions, you can access them tax cost-free. Where ' s your various other payments? There ' s tax implications Also, there ' s prospective benefits. if your recipients are not your partner or dependent children. So, within incredibly, there is people that you can nominate as a binding beneficiary such as grown-up youngsters but they ' re a tax obligation beneficiary.So they still encounter a little bit of tax should they inherit straight from super as well as if you have a pool of those after tax obligation contributions, then, that pool, your beneficiaries free of tax down the road. The large advantage, even more money in super and also a pair of side uh possible benefits is that since it ' s money that goes in Tax-free, it constantly goes out tax obligation cost-free to whoever it ' s paid to Alright, thanks Jolene.The next concern. is to once more, Jolene is I ' m fifty-eight. Just take uh a payoff or a payment of the fitness center for a worker'' s comp, or conditions are resigned. What would appreciate some advice the 5859 years of age plan appears

intriguing. I guess it ' s actually going to be being available in as well as conversation with you as well as have a real correct strategy'done. It ' s really difficult possibly in this type of sport to offer advice as well as wear ' t be a basic comments. Yeah Typically, this is an intriguing circumstance since it really might be where somebody looks at setting up'a different very an account, all right? As I discussed, if you ' re in that 5859 bracket and also you ' ve obtained accessibility to incredibly yet you ' ve got to retire or possibly can establish up a retirement account if you are meeting that retired life problem but if you ' re still still intending to work, it'might be that you ' re in fact looking at that cash and you ' re reasoning of investments outside of super.So, if you ' re not going to take one of those boxes for gain access to. after that, it could be that you look at exterior investments to ensure that you retain access to that payment number while you ' re developing yourself beyond your old job and beyond your

old job'due to the fact that you could be taking a look at a few alternatives to transform that. you could not prepare to offer up work completely also though you ' ve got uh the payment So it may be that um you understand, depending on the limitations concerning using that cash might really be considering financial investments outside of very to ensure that you wear ' t lock it away. Many thanks, John. uh simply a suggestion. to obtain those questions in. We'' ve just got two left as well as you ' ve obtained that eleventh hour question that ' s uh gets you in your mind.Just shoot that off currently due to the fact that I ' m ready to ask the final two questions that I ' ve got. another is available in. We ' ll let that one go via. Jolene, I-69 and have a super account is your advantage'for me to transform to a pension account. I ' m still working part-time. Mm hmm.'In that case, you ' d be looking at 2 accounts, incredibly account as well as the pension plan accounts, The advantage of the pension plan account is the tax free earnings. So, having cash in that account indicates that super accounts, same financial investment choice.' You could get five or 5 and a half percent on it yet in the pension plan stage because you ' re not paying tax on the passion you may be gaining five and also a fifty percent, six and also a half the disadvantage of is that you have to take out a minimal repayment yearly. So, while you obtain the benefit of those free of tax incomes, you still might have, you ' ve obtained a pension account, you'have to take a payment each year however if you ' ve got use for that repayment, then, there can be some terrific advantages to moving into that pension phase. Hey, I think we ' re having a few technological problems there. You see the'battle in and also out however I can hear you during yet I couldn ' t see you'there. The lights are on time or in the office and they put me in darkness however they flipped back on.

Oh, excellent. I'assume we need to foot the bill. Great. I ' ve hoped. So currently, um there ' s one last inquiry that I can. Oh', sorry. The 2nd one ' s being available in as I ' m almost to um to ask this. I believe it ' s going to be uh that however this set right here I ' ll request for John also.'what costs relevant to CTR that is I would currently pay charges on my account. what costs or what added fees are there for TTR Fund Okay. Thank you, Justin. So, There are fees. Um if you have ATT our account or shift to pension and also primarily, they ' re the exact same costs as what you ' d have in the the super account. So, um basically what that means is that if you have a sober account, you have costs, if you have a pension plan account, you also have costs. Um if you'look at our item disclosure declarations, uh you will certainly see um what our fees require And also that ought to address your inquiry. Truly the same phases are actually well, I ' m extremely and um and um because it ' s all a property, I state the only extra charge would certainly be the$78 a year for that admin charge. That ' s the only additional quantity you ' ll actually be paying. Um yeah. yeah, John, I claimed this is right up your alley. Um this next inquiry simply since of your heritage as well as uh we won ' t state the outcomes this morning.Um just how does the UK personal pension plan affects incredibly So, that is an excellent question. um as well as I should probably postpone that to Jolene. Okay. Alright. UK, Private pensions are affecting your very In other words, it doesn ' t really have an effect on your extremely however it can have an influence on your pension plan privileges within Australia. So, if it is income, it will count as earnings within Australia. Um If you ' re looking at round figure, after that there can be other uh factor to consider there yet the short solution is the UK pension plan doesn ' t affect your extremely annuity in Australia. Thanks, Charlie As well as the last question that we ' ve obtained right here as well as we ' ll close this off as a fortunate last What? Having a pension plan account affect the capability to get an a client I ' m mosting likely to take this.I ' m mosting likely to be hoggish. I ' m going to take all the inquiries. Um the answer is perhaps If a person is a pension age. So, if my age pension plan age Sixty-seven as well as I'turned 67, then, whether

my money is in very or pension plan stage, it doesn ' t issue. It ' s dealt with specifically the very same, fine? I ' m a pension age. All the cash counts gets a bit much more intriguing when you ' ve obtained a hubby and also spouse or when you ' ve obtained partners because if someone is older, after that what they have counts however the younger individual, the cash in their super'account doesn ' t count till they hit'age pension age. So, if prior to age pension plan age, they relocate their very into retired life pension phase, after that, yes, it will certainly impact on their companion ' s age pension plan, Okay. It ' s not

uh simple straightforward. If your age pension plan age, it all matters. If you ' re not a pension age, After that you put on ' t have the age pension. So, you can do whatever you want with very where it gets a bit a lot more great is when you'' re considering a pair where someone is a pension age and the other person isn ' t since if the individual that is not a pension plan as well as starts an incredibly pension plan,'it will certainly have an impact on the older person ' s age pension. How large an effect,'anything from zero to kicking a person off relying on just how much you ' ve got Alright, many thanks Jolene. Well, that ' s um is it for the inquiries as I can prior to that last one? Just one point I ' d like to say prior to I'head back to John to cover points up.Um simply allow you understand'if you do intend to see a replay of this uh wonderful Webinar from uh Jolene and John, you can view a replay of it on the Finances YouTube network

and additionally um it ' s just this uh session has been live stream on our Facebook page also So you can go to our Facebook web page right after as well as uh enjoy a rerun if uh that uh or whether I ' m in Perth is influencing you from heading out. So, you can watch the replay. Thank you John and Jolene. I ' ll head over to John now to wrap points up Thank you, Justin and I'' m thankful you pointed out um a replay of this session and also not the football. So, Thank you once more for everyone for participating in uh this webinar today'. We do value you putting in the time to to sit and also pay attention to us. We we would certainly have like to have done this face to face as I stated at the extremely beginning but uh in the insane world that we live in, that ' s um that ' s not so easy nowadays however I really hope that you have obtained enough details to to uh to make some type of progression with your retirement planning and please be aware that'we are here to aid you and also whether it ' s um myself with with general advice over the phone or detailed suggestions in our Perth office. Please uh enter contact with us and we ' ll do our very best for you. So, Thanks once more as well as good evening. Thanks.

There ' s tax obligation ramifications Likewise, there ' s possible advantages. The big advantage, even more money in incredibly and a pair of side uh potential benefits is that since it ' s money that goes in Tax-free, it constantly goes out tax obligation complimentary to whoever it ' s paid to Alright, many thanks Jolene.The next question. As I stated, if you ' re in that 5859 brace and you ' ve obtained accessibility to extremely yet you ' ve obtained to retire or potentially might set up a retired life account if you are meeting that retirement problem yet if you ' re still still planning to work, it'could be that you ' re actually looking at that cash and you ' re thinking of financial investments outside of super.So, if you ' re not going to take one of those boxes for accessibility. We'' ve just obtained 2 left and you ' ve got that last minute concern that ' s uh obtains you in your mind.Just shoot that off now since I ' m regarding to ask the final 2 inquiries that I ' ve got. Um if you have ATT our account or change to retirement account as well as primarily, they ' re the very same costs as what you ' d have in the the incredibly account.

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