The simplification of superannuation provides a greater level of control and flexibility in the drawdown stage. This arises from the abolition of the compulsory cashing rules and the introduction of the new style of pensions from 1 July 2007. As we approach the end of this financial year there are a number of strategies that must be considered to decide whether those currently in superannuation are able to gain the greatest advantages in the lead up to 1 July. This session will address the features of the new style pensions and advantages that may be available to you or your client as a result of the changes. The session will include:
- Impact of the new style pensions
- Whether to crystallise or consolidate pre 1 July 2007
- Long term considerations for superannuation drawdowns
- Estate planning and the new style pensions
- Aged care consideration and the use of superannuation
- Boosting exempt components under the new rules