Superannuation Investment Strategies and Advice for Sydney
Superannuation is a retirement savings vehicle that can receive both employer and personal contributions.
The value of your benefits within superannuation depend on:
- Amount of Superannuation Guarantee Contributions (SGC) your employer makes
- Amount of personal contributions made
- Amount of bonus contributions
- Earnings from investments
- Fees and charges within the superannuation funds, and
- The investment options that are chosen
Macarthur Wealth Management located in Parramatta and servicing all of Sydney can advise you on a range of superannuation investment strategies. Call today.
Accessing your superannuation
Your superannuation can only be accessed when you have satisfied a condition of release. The withdrawal request needs to be in writing to the superannuation trustee and may need to be supported by a statement or evidence that you have satisfied a condition of release.
There are number of conditions of release but the three main ones are discussed below. For other situations, you should discuss your circumstances with your Adviser.
- Reaching Age 65: At age 65 you are able to access your superannuation, even if you are still working (unless your employer fund has restrictions).
- Retirement: The definition of retirement requires you to be over your preservation age and permanently retired (i.e. do not intend to work again for more than 10 hours in any week). Preservation age is gradually increasing as per below:
If you stop working for your current employer after you reach age 60, you can access your superannuation even if you intend to work for another employer in the future.
- Permanent Incapacity: You can access your superannuation if you become totally and permanently incapacitated. You will require verification from a doctor stating that you will be unlikely to work again.