A reversionary pension is estate planning for your super-based pension
Luke Smith joined 2CC Talking Canberra 1206AM.
The Money Show aired on Friday 31 July 2020 and the topic: Reversionary pensions.
Financial Planner Luke Smith joins 2CC to explore the the issues surrounding estate planning for your retirement income stream. In this episode Luke shares his thoughts around what you may consider when setting up a reversionary pension and the kinds of financial planning issues you might need to think about as a part of your estate planning.
Key highlights include:
- What is a reversionary pension and how is it different to a binding death nomination?
- Why would you want to keep your money inside the super/pension environment rather than have a lump sum?
- Who can a reversionary pension go to?
- What happens with children, once they grow-up, does it need to be cashed-out?
- What are the benefits of making a reversionary pension?
- As a recipient of a reversionary pension, why do I need to be aware of the transfer balance cap?
- Government defined benefit scheme pensions run under a different set of rules. Above all seek advice if you need clarity.
- What is the impact of this on Centrelink?
- How can you make the most of a reversionary pension – what strategies might you consider?
- An offer for a free appointment to talk about your own financial planning goals and objectives. Everyone has different goals and personal financial planning advice can help you achieve them more effectively.
- And finally an invitation to participate in our Budget Program starting in October.
Listen to the Podcast right now
Also available on Apple Podcasts and Spotify ‘The Strategy Stacker – Luke Talks Money’
Is your own reversionary pension or binding nomination sorted?
A reversionary pension might be a part of your estate planning and if you have questions please contact us to make an appointment. Envision Financial can help you set and work towards your own financial goals and help you better manage your financial well-being. We’re very pleased to let you know that we’ve returned to the office for appointments. Make an appointment to catch up with Luke face to face, over the phone or via video appointment.
Envision 2CC offer: Your first appointment is at our cost. Make an appointment to confidentially discuss your own life goals. 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 Talking Canberra next Friday from 4.30pm. Tune into listen live or visit our website again to catch up on the podcast. You can also check out our YouTube Channel at Envision Financial Canberra.