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An Australian worker who has transferred funds from their New Zealand KiwiSaver scheme into their Australian superannuation scheme, cannot access the ex-New Zealand portion of their superannuation until they reach the age of 65, regardless of their preservation age. This rule also applies to New Zealand citizens who have transferred funds from ...
Contributions to superannuation funds are subject to two types of "caps", and a third has been proposed in the 2016 federal budget. The annual concessional contributions cap since 2014/15 has been $30,000, with the cap for people over the age of 49 at the start of each year being $35,000. [5]
Abolition of Compulsory Age Retirement (Statutory Officeholders) Act 2001 ... Australian Industries Preservation Act 1906 1906 (No. 9) No ... First Home Super Saver ...
Since 1 January 2014, all employers must select an approved MySuper account as their default super fund into which they must pay all default super guarantee contributions (minimum employer contributions). [11]
The age pension was the first payment made by the Australian Government, dating back to 1909. [25] There is no automatic entitlement to an age pension in Australia, unlike in countries such as the UK or New Zealand. Taxpayer-funded pensions are means tested [26] (similar to the UK's Pension Credit), effectively making them another type of benefit.
AustralianSuper is an Australian superannuation fund headquartered in Melbourne, Victoria.It is an industry super fund, and so operates through a mutual fund structure.. With over A$ 340 billion of retirement savings under management and more than 3.4 million members, AustralianSuper is the largest superannuation fund in Australia and the sixteenth largest pension fund in the world.
Australia passed a new law that will ban users under the age of 16 from most social media platforms. Australia passes social media minimum age law, cracking down on app use by kids under 16 Skip ...
The intention of the MySuper system is for market participants to create a range of easily comparable, relatively simple products, which in turn will focus competition on net costs and returns. The Australian Prudential Regulation Authority (APRA) fosters competition by publishing fee tables and other statistics. [2]