Pension Accounts – They are not all the same
Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in The Money Show which aired on Friday 4 March 2022. Luke joins Leon back in the 2CC studios this week. They start the show with the briefest of chats about what’s going on with the currency right now in Russia. This weeks topic though is one much closer to home and especially those starting their retirement planning. How do pension accounts differ?
Key topics covered include:
- What is a Pension Account?
- A pension from Centrelink is not the same as a Pension Account from your super.
- How do you start a Pension Account and how often can you get paid from it?
- What are the advantages of an Account based pension?
- How does it compare to a Transition to retirement pension?
- How does it compare to the Centrelink Pension?
- And what about defined benefit income streams – government pensions like CSS and PSS, DFRDB and MSBS?
- What is the transfer balance cap?
- Luke shares his top tips to consider before starting a pension account or retirement income stream
- Seek advice to be more confident in your super and retirement outcomes.
Listen to the Podcast right now
Also available on Apple Podcasts and Spotify ‘The Strategy Stacker – Luke Talks Money’
Do you need advice around planning your own retirement income?
Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals. Make an appointment to confidentially discuss investment, super, and retirement planning. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.
Luke will return to talk about financial planning on 2CC next Friday. You can also catch up with The Strategy Stacker – Luke Talks Money podcast. We look forward to your company again.