Superannuation is a tax effective way to save for your retirement but it is complex and opportunities to maximise your super savings can be easily missed. If you are hoping for a comfortable life in retirement, getting the right advice about superannuation as soon as you start working can significantly boost your retirement income.

Income certainty

Knowing where your income is coming from is critical in retirement. Super savings forms a vital part of your retirement plan alongside other forms of income including income from investments, property or part-time work.

As part of your retirement plan, we put the right superannuation strategies in place to ensure you maximise your super.  

Self Managed Super Funds (‘SMSF’)

Managing your own superannuation comes with considerable responsibility and requires extensive understanding of financial and legal issues.

An SMSF is a private superannuation fund, regulated by the Australian Taxation Office (ATO) that you manage yourself. An SMSF is a legal tax structure whose sole purpose is to provide for your retirement. SMSFs operate under similar rules and restrictions as ordinary super funds.

To meet the ATO regulations, when you run your own SMSF you must:

  • carry out the role of trustee or director, which imposes important legal obligations on you
  • set and follow an investment strategy that is appropriate for your risk tolerance and is likely to meet your retirement needs
  • have the financial experience and skills to make sound investment decisions
  • have enough time to research investments and manage the fund
  • budget for ongoing expenses, such as professional accounting, tax, audit, legal and financial advice
  • keep comprehensive records and arrange an annual audit by an approved SMSF auditor
  • organise insurance, including income protection and total and permanent disability cover for super fund members
  • use the money only to provide retirement benefits.

Agility Wealth Partners financial advisers are licenced to provide SMSF advice and we can help you weigh up the pros and cons of running an SMSF. We specialist in:

  • Determining if an SMSF is right for you
  • Setting up your SMSF
  • Managing your SMSF
  • Helping with investment decisions for your SMSF

Changes in superannuation policy

One of the biggest challenges in managing superannuation and maximising your super savings is that the environment is constantly changing. Australia’s superannuation industry is regularly impacted by a range of factors, including:

  • Changes in government legislation and policy
  • External regulating authorities
  • Changes in the superannuation industry itself

Our advisers are kept well-informed of changes to superannuation legislation and regulations and, importantly, the impact any change will have on your retirement plan. They will advise you of any necessary adjustments.

Call Agility Wealth Partners on (02) 8277 4216 to discuss your superannuation needs.

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