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See Your Future Clearly

SuperIQ is an intuitive Self Managed Superfund System that’s designed to link all the services you may need, helping you to make the best decisions about your financial future.

Superannuation Update - Thursday 28 November 2013

A number of announcements have been made this week which are worth mentioning:

1. Social security deeming rules for account based pensions

The Bill Social Services and Other Legislation Amendment Bill 2013 to introduce social security deeming rules for account based pensions have been introduced.

What it means?

Ageing population: Productivity Commission research paper

The Productivity Commission has released a research paper which says preparation for an ageing population must begin early. According to the report, An Ageing Australia: Preparing for the Future, Australia is facing a major slowdown in its growth in national income per capita and productivity outlook at the same time that ageing will start to make major demands on the budgets of all Australian governments. The population aged 75 or more years is projected to rise by 4m from 2012 to 2060. In 2012, there were roughly, one centenarian for every 100 babies.

SuperIQ named SMSF Provider of the year by SelectingSuper

SuperIQ was named SMSF Provider of the year at the SelectingSuper awards (http://www.selectingsuper.com.au/awards) in Melbourne today.

Attracting a crowd of almost 200 people representing many of Australia's best super funds and most innovative superannuation product designers, the awards ceremony celebrated how far competition has come in superannuation as seven of the 12 fund-based awards were won by not-for-profit funds and five by retail wealth management groups.

Proposed changes to superannuation NOT to proceed

The federal government has announced that it will NOT proceed with a raft of Labor’s taxation changes, including taxes on individual superannuation pension earnings above $100,000. That is, super funds will retain their 100% tax free status in pension mode.

Superannuation Update - Friday 1 November 2013

A number of announcements have been made this week which are worth mentioning:

1. Repeal of the mining tax and other related measures

Federal Parliament resumes next week and top of the agenda is to repeal the Minerals Resource Rent Tax (MRRT) and other related tax measures that were included in the Coalitions election promises.

White label deal with ANZ and acquired SMSF admin firm Super Concepts

AMP-linked SuperIQ has signed a white label deal with ANZ and acquired SMSF administration firm Super Concepts.

Super IQ is 49 per cent owned by AMP and 51 per cent owned by SuperIQ chief executive Andrew Bloore. 

The Super Concepts brand will be retained as part of the agreement and it will continue to operate from its Melbourne offices, according to an announcement from SuperIQ.

SuperIQ acquires SMSF business from Tranzact

SuperIQ has acquired the SMSF administration business of Brisbane based listed financial services company Tranzact Limited.

The purchase will provide Tranzact customers with access to SuperIQ's market leading SMSF administration service and technology platform and will provide SuperIQ with additional scale.

SuperIQ will begin to transition the Tranzact customers to its service immediately.

How much superannuation do you need in retirement?

A Deloitte Report, Dynamics of the Australian Superannuation System: The next 20 years: 2011-2033 was released this week which provides some very interesting insights into the superannuation sector.

Superannuation Update – Friday 20 September 2013

A number of announcements have been made this week which are worth mentioning:

1. Self-Managed Superannuation Fund (SMSF) gearing mentioned in the Reserve Bank board minutes

For the first time we can recall, SMSFs have been mentioned this week in the Reserve Bank board minutes:

Financial Stability:

Rice Warner report makes starting a SMSF appealing to even more Australians

The Rice Warner Report released this week, “Costs of Operating SMSF”, makes it very clear that if you and someone else you can have as member of your SMSF have superannuation savings of $500,000 or more then, a SMSF is probably going to be the cheapest form of superannuation you can have.

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