Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Superannuation Fund - for Life after Retirement

By Kevin Magnus Subscribe to RSS | July 20th 2012 | Views:
loading
 
  



Lifestyle is a very personal thing; luxury living for one person is a modest existence for someone else. Life seems to be easy and going smoothly when one is strong enough and can earn his own livelihood. But when one grows old, becomes weak, then what???

Hearing this big word, one gets really confused. What is it? Or what does it deal with? To explain it in a simple language, we can say: “Superannuation fund is the most tax effective vehicle for your retirement wealth. It is a particularly useful investment vehicle you can use to accumulate wealth to fund your lifestyle when you retire, while benefiting from some excellent tax advantages.’’

When it comes to define the term, it goes on in this manner: “The terms retirement plan or pension or the word superannuation refer to a pension granted upon retirement.’’

Every country has got one or the other superannuation plans for its employers among which the superannuation plan in Australia offers the best one. Aussie Super is a multi-industry fund, where they can take care of your entire superannuation fund and manage your accounts in a quite flexible way.

Superannuation in Australia refers to the arrangements which people make in Australia to have funds available for them in retirement. In Australia like Aussie Super, superannuation arrangements are also government-supported and encouraged, and minimum provisions are compulsory for employees. For example, employers are required to pay a proportion of an employee's salaries and wages (currently 9%) into superannuation funds, but people are encouraged to put aside additional funds into superannuation.

As superannuation is money invested for a person's retirement, strict government rules prevent early access to preserved benefits except in very limited and restricted circumstances, including severe financial hardship or on compassionate grounds, such as for medical treatment not available through Medicare. There are seven main types of superannuation fund:

Generally, superannuation benefits fall into three main categories:

• Preserved benefits;

• Restricted non-preserved benefits; and

• Unrestricted non-preserved benefits.

Preserved benefits are benefits that must be retained in a superannuation fund until the employee's 'preservation age'. Currently, all workers must wait until they are 55 before they may access these funds. All contributions made after 1 July 1999 fall into this category.

Restricted non-preserved benefits although not preserved, cannot be accessed until an employee meets a condition of release, such as terminating their employment in an employer superannuation scheme.

Unrestricted non-preserved benefits do not require the fulfilment of a condition of release, and may be accessed upon the request of the worker. For example, where a worker has previously satisfied a condition of release and decided not to access the money in their superannuation fund.

There are about 500,000 superannuation funds in operation in Australia. Of those, 362 have assets totalling greater than $50 million. Four main regulatory authorities look after their allotments of funds in Australia. Thus superannuation fund is the best way to earn a healthy income after retirement and live a respectable life. The Australian way should be replicated world around in different countries for a perfect retirement plan.

Kevin Magnus - About Author:
Kevin Magnus offers tips and advices to novices on the most excellent Superannuation Fund. He recommends Swiss Private Capital Ltd., which is a Dubai-based company operating all over the world, for profitable investments. Opt for an exclusive Aussie Super fund provided by this company to boost your return.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/management-articles/superannuation-fund-for-life-after-retirement.htm

Related Management Articles Subscribe to RSS

Forklift Ticket in Blacktown – Importance of Choosing the Best Training Centers
Published by Ben Bradshaw on December 22nd 2011 | Management
Forklifts are equipment that needs to be handled with utmost care since failure to doing this can le...
 
Honda recalls 304000 cars over air bag defects
Published by Ritika Sharma on December 5th 2011 | Management
Japanese car maker Honda Motor Co. on Friday announced a recall of close to 304,000 vehicles globall...
 
Some Great Pubs in Vizag
Published by John Hazel on July 25th 2012 | Management
Vizag has a much lot to offer than it seems. You are just required to explore each and every inch of...
 
Materials Management relating to Transnational Substance Issuers is currently Technical
Published by Clint Lee on July 24th 2012 | Management
Once the population thrives, the time necessary globe preservative corporations...
 
Why Choose Commercial Property Management Services
Published by James Blee on April 23rd 2012 | Management
Commercial property management is one job that demands tedious efforts from any property owner. Ever...
 
Employee ID Badges- Some Vital Points
Published by Julia Roger on January 24th 2012 | Management
Employee identification cards are extremely important for any organization for a wide variety of rea...
 
Cleaner Environment with an Alternate Source of Energy
Published by Mike Nicholson on March 2nd 2012 | Management
Alternate source of energy is a very important source to make your environment clean and green. The ...
 
Use Business Consultants to facilitate in Decision Making
Published by Andy Brown on June 19th 2012 | Management
The first step to proper ISO training is to recognize that specific client of a company or organizat...
 
Pharma Sales Employees Need to take Technologies to help improve Merchandise sales
Published by Dexter K Long on July 11th 2012 | Management
Pharma Sales Employees Need to take Technologies to help improve Merchandise sales...
 
Customer Service Training
Published by PramilaMathew on January 27th 2012 | Management
Customer service is the provision of care to customers from pre-service to after sales service. It m...
 
Choose the Best Asset Management Professionals
Published by Georgetroy on May 2nd 2012 | Management
Maintaining the assets for the companies that are engaged with its business globally will be a tough...
 
Optical filter glass and its uses
Published by Carolmoore on March 13th 2012 | Management
The term optical filter glass refers to any kind of glass that has the ability to filter out certain...
 
Sales motivation- the Key to achieve Guaranteed Success
Published by Elia Winson on August 7th 2012 | Management
We live in a competitive world, where in a second, tables can turn and fortunes may tilt towards you...
 
A Quick Overview of Petra Property Management
Published by Leslie Hoffman on March 2nd 2012 | Management
Letting agents have very important role to play in the buy-to-let industry. From choosing the proper...
 
The staff member provider plan is free for all police arrest records sales team
Published by Evans Thomson on March 21st 2012 | Management
Government entities believes it is very important focus on unique customers. If a person was having ...
 
Insights on how Health RFID is effective
Published by Adam Geek on May 31st 2012 | Management
Changes into scientific disciplines happen to have been liable for often the trend of several from y...
 
Judging cost check methods related with Reference Group Maintenance
Published by Chris Jarvis on May 29th 2012 | Management
Topic of hospital inventory management, the most important trajectory among merchandise submitter is...
 
It’s All about Choosing the Right Fairfield Property Management Dealer
Published by James Blee on May 3rd 2012 | Management
No doubt your investment in property is quite a crucial investment. Hence, you need to hire a profes...
 
Study more about Supply Chain Consulting
Published by Tom S Anderson on December 5th 2011 | Management
Are you looking to develop your vendors existing franchise?...
 
Wherever one is, in the UK, one is never that far from a multiplex
Published by Tammy Bright on December 26th 2011 | Management
Many cinema multiplexes are finding themselves with spare capacity and offering these as a venue for...
 
Company and its structure and rules in Dubai and UAE
Published by Bravo Charli on August 26th 2012 | Management
Company is nowadays a very popular and common form of business due to the limited liability factor e...
 
The Building Blocks of an Effective Business Growth Strategy
Published by Terrilevine on August 23rd 2012 | Management
Operating a business without a solid business growth strategy is like jumping off a boat in the midd...
 
The Building Blocks of an Effective Business Growth Strategy
Published by Terrilevine on August 23rd 2012 | Management
Operating a business without a solid business growth strategy is like jumping off a boat in the midd...
 
The Building Blocks of an Effective Business Growth Strategy
Published by Terrilevine on August 23rd 2012 | Management
Operating a business without a solid business growth strategy is like jumping off a boat in the midd...
 
The Building Blocks of an Effective Business Growth Strategy
Published by Terrilevine on August 23rd 2012 | Management
Operating a business without a solid business growth strategy is like jumping off a boat in the midd...
 
The Building Blocks of an Effective Business Growth Strategy
Published by Terrilevine on August 23rd 2012 | Management
Operating a business without a solid business growth strategy is like jumping off a boat in the midd...