I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC

Super Facts and Tips

4 Super Benefits and Pension Tips

1. It is possible for the super death benefit to be paid to a financial dependant or inter-dependent (e.g., mistress)

As stated over by the rules, superannuation death benefits can only be given to a SIS dependant. As such, super death benefits are generally paid to a partner or child. Nevertheless, they could additionally be given to a person that was in an interdependent partnership with the participant or to somebody that was economically depending on the participant.

This implies that it is feasible for superannuation benefits to be paid to somebody besides the spouse or kids of the deceased. If the deceased member had an extra-marital event, for instance, their girlfriend can claim a privilege to the super benefits if they financially depended on the deceased.

Financial dependence determinations are made on a case-by-case basis and are supported by mutual and case law.

An examination that can be used includes whether the person can fulfil their day-to-day demands if the money is withdrawn? If a mistress or child were partly dependent on the deceased, they might have the ability to get a death benefit from the trustee.

2. Step-children could cease to be a superannuation dependant.

If the birth parent of a step-child passes away before the step-parent, the child is no longer considered to be a step-child. They could no longer satisfy the definition of a dependent under SIS or tax obligation legislation in that relationship. They can potentially lose out in obtaining their mom and dad's superannuation benefits.

3. Age pension plan entitlements can be raised by commencing an account-based pension.

As soon as an individual gets to age pension age, their superannuation equilibrium in accumulation phase is considered for the Centrelink earnings test.

By contrast, earnings from an account-based pension will commonly result in lower taxable income compared to having superannuation in the buildup stage because of the Centrelink insurance deductible (non-taxable) amount.

As considerable prices rise, it may be much more beneficial to convert accumulated super to an account-based pension.

4. Age pension privileges can be enhanced by recommending an account-based pension plan.

Where the income examination identifies the Centrelink age pension, it might be worth your while driving an account-based pension as well as starting a new account-based pension plan.
If a substantial amount of time has passed because the pension scheme began or the account balance has transformed since it was commenced, it might be possible to increase the Centrelink insurance deductible (non-assessable) amount.
Driving and recommending an account-based pension may increase the age pension plan assuming various other elements influencing the assessment of the age pension scheme do not change.

You can find more tips on how to maximize super benefits at www.australiansuperfinder.com.au

All information on this website is of a general nature only. We have not taken into account your financial situation, needs or objectives. You need to make up your own mind and ascertain yourself if it is right for you. We recommend you read the product disclosure statement(s) and the financial services guide before making any financial decision.

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