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In our last edition of Achieve, we talked about the changes to superannuation and the great incentives they offered investors. The Better Super rules provide most Australians with the opportunity to increase their retirement income, by providing simpler tax rules and more flexibility around how and when super can be accessed.
This has brought about various advantages, such as the removal of tax on super payouts received after age 60 and the ability to keep money in super for longer.
Most of these changes were introduced on 1 July 2007. Additional changes that will halve the assets test taper rate, will take effect from 20 September. For some Australians this will mean an increase in pension payments, while others may become eligible for the Age Pension for the first time.
One of the key benefits the new super rules bring many Australians is greater flexibility during the transition from work to retirement. People now define retirement in different ways – whether that is launching a new career, continuing work on a part-time basis, going back to school or discovering the world, retirement is different for everyone. This combined with the fact that we are living longer and healthier lives means greater flexibility is required.
In light of this, we have launched the Russell Private Active Pension, to cater for people who are either retired or approaching retirement.
The Russell Private Active Pension links a contribution account to one or more pensions, all within the one product. This means investors are able to continue building their super while also taking money out (as an income stream or lump sum), and start and stop multiple income streams, all in the one product. A single account number and statement makes it easier for investors to keep track of their financial position.
Read more about the Russell Private Active Pension, or call us on 1800 300 353.
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Achieve is issued by Russell Investment Management Limited (‘RIM’), ABN 53 068 338 974, AFSL 247185. Achieve provides general information only and does not have regard to your objectives, financial situation or needs. Before making an investment decision, you need to consider whether this information is appropriate to your objectives, financial situation and needs. The information has been compiled from sources considered to be reliable, but is not guaranteed. Past performance is not a reliable indicator of future performance. Total Risk Management Pty Limited ABN 62 008 644 353, AFSL 238790, RSE L0000260 (‘TRM’) is the trustee of the Russell SuperSolution Master Trust (‘Russell SuperSolution’) and the issuer of the Product Disclosure Statement (‘PDS’) for Russell SuperSolution. Any potential investor should consider the latest PDS in deciding whether to acquire, or to continue to hold, an investment in Russell SuperSolution. The PDS is currently available by visiting www.russell.com.au or by phoning 1800 555 667. RIM and TRM are part of the Russell Investment Group (‘Russell’). Russell or its associates, officers or employees may have interests in the financial products referred to in this magazine by acting in various roles including broker or adviser, and may receive fees, brokerage or commissions for acting in these capacities. In addition, Russell or its associates, officers or employees may buy or sell the financial products as principal or agent. You may contact Russell on (02) 9229 5111. RUSSELL ‘SUPER IQ’ PROMOTION – TERMS & CONDITIONS, 1. Information on how to enter and prizes forms part of these conditions of entry. Entry into the competition constitutes acceptance of these terms and conditions. 2. The Promoter is Russell Investment Management Ltd (ABN 53 068 338 974) of Level 17, 19-29 Martin Place, Sydney NSW 2000. 3. Entry is open to Australian residents who are over the age of 18 and who are members of Russell SuperSolution during the promotion period and at the time of the draw. Employees of the Promoter (and their immediate families) and its agencies associated with this promotion are ineligible to enter. 4. The promotion commences at 5.00pm on 12 September 2007 and closes at 5.00pm on 12 November 2007 (“Promotion Period”). 5. To enter the promotion, entrants must complete and submit the Super IQ online quiz at www.russell.com.au/achieve/superIQ to be eligible for the competition. On completion of the quiz, they must then complete and submit the online entry form to enter the competition. There is a limit of one entry per person. 6. The draw will take place at 2pm on 16 November 2007 at 15 Grosvenor Street, Neutral Bay NSW 2089. The results of the draw are final and no correspondence will be entered into. The winners will be notified in writing, and their names will be published in The Australian newspaper on 23 November 2007. 7. There will be one draw and five prize winers. The first five eligible entries drawn from all entries received will win a $1,000 contribution to the winner’s superanuation account. The maximum retail value of each prize is $1,000. Total prizepool value is $5,000. 8. Authorised under NSW Permit No. LTPS/07/24410, ACT TP07/03366 & SA Licence No. T07/3537. 9. The complete set of the Terms & Conditions Russell ‘Super IQ’ Promotion can be found at www.russell.com/achieve/superIQ/terms. Entry is conditional upon reading and accepting these Terms & Conditions. SS_Achieve_0708 |
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