Luke on 2CC – Should I start a pension before 30 June?

Luke on 2CC – Should I start a pension before 30 June?

Turning super to pension before June 30 might have advantages

Luke Smith joined 2CC Talking Canberra 1206AM.
Financial Adviser, Luke Smith, Financial Planner CanberraThe Money Show aired on Friday 12 June 2020 and the topic: Starting a pension before 30 June. 

In today’s topic Financial Planner Luke Smith joins Leon to explore the topic of turning your super into a retirement income stream (pension) before June 30 as well as some of the advantages this may bring.  Leon and Luke however start the show talking about why it’s good speak with someone who knows what they are doing – professional advice provides more certainty. It’s important to make the most of your retirement planning options. 

Key highlights include:

  • What is the difference between the accumulation phase and the pension phase of super?
  • Is there are minimum amount of money you must take out of a pension each year?
  • At pension phase, is everything inside your fund is tax free?
  • How do you start a pension? 
  • How often can pension payments be made?
  • Why would you start a pension before June 30?
    • Make a contribution from your pension to make a personal tax deductible contribution back to super
    • Build super in a spouses name, avoid the transfer balance cap
    • Paying off debts 
    • Do a rennovation
    • Transition to retirement – access super money while you’re still working (it’s not tax free though) 
  • What is the taxable lifetime limit?
  • Why wouldn’t you start a pension before June 30?
  • An offer for a free appointment to talk about your own retirement planning needs and goals. Everyone has different goals and personal financial planning advice can help you make the right decision for your needs and situation. 

Listen to the Podcast right now

Also available on Apple Podcasts and Spotify ‘The Strategy Stacker – Luke Talks Money’

Apple Podcasts

Would you like help with your pension and retirement plans?

Pension planning June 30

June 30 is a great time to review your financial goals and make some new goals for the coming financial year – even retirement goals! 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 – even over the phone or by video chat. Make an appointment to confidentially discuss your financial and retirement 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.


We invite first time clients to make an appointment to meet with us