Essay paper help

Personal financial planning Essay

Category: Finance & Accounting Pages: 6 Type: Essay Level: Undergraduate
It would help to sail smooth into the retirement period while enjoying some tax related concessions available to pensions. The guideline for opting the transition to retirement varies from one scheme to another.
As an example, some of them specify that one's preservation age must be below 65 years and continues to be in workforce. And the government might not have specified the minimum or maximum hours that you might be working. One could collect the super as 'non-commutable account based pension". In some situations, the account holder is allowed to take a maximum of 10 percent only while being in a transition period. A minimum account balance, say $ 25,000/-, is to purchase some of the products designed for transition to retirement. Also, certain stipulations like minimum account balance of $ 1000/- is required in the account.

Part D
Describe two current legally accepted strategies that could be employed by the couple to enable them to maximise any Centrelink benefits in their final retirement.
The important areas that could be employed by the couple for planning the post retired life are
Age pension : This can chosen based on the qualifying age and also on certain test conditions like asset and income test.
Allowances are related to the people who are not presently in the workforce.
Commonwealth Seniors Health Care Card is anothet option for those who fail to qualify for the senior health care card.
Part E
Identify the two methods of nominating a beneficiary for superannuation members and the advantages and disadvantages of each. Outline the tax treatment of superannuation lump sum death benefits.
As per the newly proposed