The big question – Does paying taxes while working give you the right to expect an age pension when you decide that you want to retire? – The short answer is no. What is the age pension? The age pension is a safety net to support people in retirement who do not have the necessary […]
Australian employers are obliged to make minimum contributions to superannuation (super) for their employees. This is known as Super Guarantee (SG). Currently an employer is required to contribute 9.5% of their employees’ salary (based on their Ordinary Time Earnings or “OTE”) to a super fund. Contributions must be made at least quarterly, by 28 January, […]
There has been quite a bit of media focus about some employers either not paying or failing to pay the correct compulsory contributions to superannuation for their employees. So serious is the problem, new legislation has been tabled in parliament offering employers a one-off amnesty if they come forward and self-correct unpaid or short-paid contributions. Despite the […]
Many Australians, in particularly the younger ones, are so totally disengaged when it comes to Superannuation that they are not aware of what super fund they belong to, how many accounts they have with different super funds and how their super is invested. Do you fall into this category? Disengagement with super is highlighted by […]
Here are a couple of simple rules to follow and questions to ask yourself if you do decide to take the plunge and become an active equity or share investor on the Australia Stock Exchange (ASX). The first question you need to ask yourself is whether you have the time, energy and skills required to […]