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

Edible Oils and There Process of Refining
Published by Mike Nicholson on March 12th 2012 | Management
Edible oils are commonly used in the process of cooking and they have a high content of fat present ...
 
Check the quality of steel buildings for sale before buying them
Published by Steve Hops on December 28th 2011 | Management
Metal buildings are becoming common for the various advantages that they offer. Steel storage buildi...
 
Importance of Regular and Professional Carpet and upholstery Cleaning
Published by Larry King on July 10th 2012 | Management
Regular carpet and upholstery cleaning do not have the power necessary to remove deeply imbedded soi...
 
Finding an Effective Client Loyalty Program
Published by Amia Trevisan on January 26th 2012 | Management
Every business should consider having a client loyalty program. That’s because it’s more expensi...
 
Save Time and Optimize Your Resources with Resource Planning
Published by Ricky Williams on February 16th 2012 | Management
For proper resource planning you actually need to know all your resources, their capabilities, their...
 
Erect Your Construction with Steel Building Kits
Published by Henrich Grave on March 24th 2012 | Management
Are you considering your options when looking for shaping up your dream construction? In that case, ...
 
Vallejo Property Management Companies Offer Fantastic Investment Solutions
Published by James Blee on May 4th 2012 | Management
Have you ever wondered why the Vallejo property management companies are regarded as the best invest...
 
Adequately Manage the Demand and Supply of Resources with Resource Planning
Published by Ricky Williams on February 3rd 2012 | Management
There are times when even the human resource department or IT department are not aware about the num...
 
Effective HR Solutions Guarantee Smooth Running of an Organization
Published by Cornerstonehradvantage on June 11th 2012 | Management
Workforce is the key to the development and success of any business. It is, thus, imperative to mana...
 
The upside of leasing a Ford Transit trade van rather than buying
Published by Kiya Mateo on March 4th 2012 | Management
As many companies know purchasing a commercial van can be very pricey, so leasing a Ford Transit van...
 
A clear vision helps with the potholes
Published by JackDaly on March 29th 2012 | Management

Hi, this is Jack Daly, and I wanted to share some thoughts about the importance of vision in one...
 
Business Strategy for New Products Launch
Published by Rodney Wincaster on June 28th 2012 | Management
Business strategy can also be referred to as a suitable game-plan that is specifically designed to r...
 
It is a Knockout Team Building and Corporate Events London a Cost you CAN afford
Published by James Blee on July 20th 2012 | Management
Never settle for second best. That’s the ethos of Black and White Corporate Events London- unique ...
 
Tips in Field Service Management
Published by Peter Siddle on February 3rd 2012 | Management
Suggestions because of field service management could possibly be differentiators why decide some so...
 
Building a Steel Building and Steel Workshops is Trouble-free
Published by Henrich Grave on March 24th 2012 | Management
Building a steel building and steel workshops are much easier at the current times. Individuals can ...
 
Use Concave Mirrors for Clear View
Published by Mike Nicholson on June 14th 2012 | Management
We all love our life, isn't it? Normally we hear people saying that they came alone in this world an...
 
Aircraft Hangers for Sale Enhancing Airplane Safety
Published by Steve Hops on February 20th 2012 | Management
The aircraft hangers for sale are very important to protect airplanes and helicopters since aircraft...
 
Hangers for sale and Steel buildings for sale in financial year end
Published by Steve Hops on February 6th 2012 | Management
People who really have a liking towards costly and branded hangers wait for hangers for sale as they...
 
Supplier relationship management
Published by Will K Stewart on June 7th 2012 | Management
Any time a group 's developing freight available for reselling, sustaining an attractive business ro...
 
Best Complications with respect to People found in 2012
Published by Martin Lawrence on March 17th 2012 | Management
In recent years, its disposal organization needs stumbled upon several complex problems, does not st...
 
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...