POWERED BY MOMENTUM MEDIA
Superannuation lead adviser queries
Inquiries around non-concessional contribution caps have doubled in the last month, according to BT Financial Group.
BT's advice technical team found the leading queries for the September 2016 quarter were non-concessional contribution caps, Centrelink pension changes from 1 January 2017, and superannuation pension changes from 1 July 2017.
BT head of financial literacy and advocacy, Bryan Ashenden, said advisers were looking to know whether their clients would be affected by the changes, how much they could contribute this year and next, and how the transitional arrangements would work where a client had triggered, but not yet fully used their non-concessional contributions under the bring-forward provisions.
Ashenden said pension change including the rebalancing of assets test limits, are the second most topical query.
"The reality is that many clients will likely see some change in their pension entitlements. Advisers are acutely aware of this and quite rightly so. We're seeing advisers getting on the front foot and taking the lead to ensure a ‘no surprises' approach with their clients," he said.
"We know having those discussions earlier on can make a big difference to clients feeling comfortable with any legislative change.
"It's important to note that there is a silver lining. If there are changes to your client's pension, they will likely be eligible for a low income care card, and if they're of retirement age, they will receive the commonwealth seniors health card."
Recommended for you
What is CSC and how does its investment strategy stand out?Commonwealth Superannuation Corporation (CSC) is a reti...
What were the key factors that influenced your fund's performance in 2024, and how did market conditions impact your inv...
APRA has announced eight proposals aimed at pushing entities, including super funds, to move beyond treating compliance with certain requirements as a mere box-ticking exercise.
The firm is offering Australians lower fees and improved transparency with its exclusively exchange-traded fund (ETF) portfolios.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Global X GlobalX FANG+ ETF
33.51 3 y p.a(%)
2
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
32.45 3 y p.a(%)
4
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
5
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
