Superannuation remains strongly tax-advantaged when you put money in. The advantage is even greater when you're retired and over 60, because income paid from super can be exempt from income tax.

Superannuation should be a major component of any retirement strategy.

On the downside, superannuation is a long term investment: generally you cannot take money out until retirement, death or disability (with limited early access in case of hardship).

The GFC saw most super funds deliver very poor and sometimes negative returns. This was very unfortunate for people planning to retire around then, but the funds are recovering.

The GFC impact highlighted the value of a piece of advice we give people approaching retirement, which is based on a century of statistical data: to fix an annuity-style payment up to two years before they start drawing it. This simple strategy can dramatically improve annuity income for the next 20 years or more.

We also recommend new-generation annuity products that give a guaranteed (CPI adjusted) income for life – regardless of the state of the market. Clients holding this type of investment had their income completely protected from the GFC.

Click to learn more about guaranteed income superannuation.

Many people choose to create their own, self-managed super fund as a way of getting the tax advantages but still retaining some control: click for more.

For more information or for a no-obligation initial consultation, contact us.