Education

Reverse mortgages in Australia are regulated under the National ConsumerCreditProtection Act. Australian law requires reverse mortgages to include a no-negative-equity guarantee, meaning the borrower (or their estate) will not owe more than the sale proceeds of the home, regardless of how much interest has …

SMSFs differ from APRA-regulated super funds (such as industry, retail, corporate and public sector funds) in two key ways. First, members make theInvestment, administration and compliance decisions themselves rather than relying on a professional trustee. Second, SMSFs are regulated by the Australian Tax Office …

Lump sums are available only once the member has met a condition of release that allows their super to be paid out in cash. The most common conditions are retirement after preservation age, ceasing employment after age 60, reaching age 65 (whether retired or …

TAPs were introduced in 2004 as part of a class of complying super income streams designed to provide structured retirement income while retaining market exposure. They were also designed to be eligible for certain Centrelink concessions, including a 50 per cent asset test exemption …

Unlike savings accounts, where interest rates can change at any time and money can be withdrawn freely, term deposits offer rate certainty but limit access to the funds during the term. Early withdrawals are typically permitted but usually attract a reduction in interest paid.

Unlike a regular account-based pension, a TTR pension is available before a member has fully retired. Members can use it to supplement their salary if they reduce work hours, or as part of a strategy that combines TTR income with continuing salary sacrifice contributions …

A comprehensive income product for retirement, often abbreviated as CIPR, is a concept that emerged from AustralianSuperannuationpolicy work in the mid-2010s. The original policy idea was for super funds to offer a default retirement income product that combined features such as broadly constant income …