POWERED BY MOMENTUM MEDIA
Age Pension eligibility clarification sought
Changes to the Assets Test affecting Age Pension eligibility are top of mind for financial advisers seeking technical and strategic support, according to Challenger.
The investment management firm found the top three queries during the December 2015 quarter were:
- Changes to the Assets Test from 1 January 2017;
- Impact of aged care rental income to residents; and
- Estate planning considerations around income streams and annuities.
Challenger general manager for advice services, John Carnevale, said "social security continues to be top of mind for advisers and their clients considering that around 75 per cent of Australians 65 and up qualify for at least a part Government pension to supplement their income".
"It's no surprise then that advisers are seeking clarification and support around how their client's strategies and potential Age Pension eligibility will be impacted by the changes," Carnevale said.
"More than anything, it's about being in a position to inform clients, have a conversation about what the changes mean and manage you clients' ongoing expectations."
Recommended for you
A ratings firm has placed more prominence on governance in its fund ratings, highlighting that it’s not just about how much money a fund makes today, but whether the people running it are trustworthy, disciplined, and able to deliver for members in the future.
AMP has reached an agreement in principle to settle a landmark class action over fees charged to members of its superannuation funds, with $120 million earmarked for affected members.
Australia’s second-largest super fund is prioritising impact investing with a $2 billion commitment, targeting assets that deliver a combination of financial, social, and environmental outcomes.
The super fund has significantly grown its membership following the inclusion of Zurich’s OneCare Super policyholders.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
76.97 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
76.46 3 y p.a(%)
3
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
51.13 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
45.15 3 y p.a(%)
5
Select Baker steel Gold Institutional
43.78 3 y p.a(%)
