Ella (64) and Paul (67)
When Paul and Ella retired two years ago, Paul moved his super into an Active Super Account-Based Pension plan, while Ella hadn’t given much more thought to hers since. And while they felt they could live a comfortable retirement, they wanted to eliminate financial stress and enjoy more certainty in their future.
After retiring, the couple agreed that they didn’t want to face any more stress. After all, wasn’t that supposed to be behind them after working hard to get there?
So instead of worrying about the future, they took action and sought the advice of Active Super financial planner, Donna. Donna spoke to them about how to maximise their income throughout their retirement, and access the age pension to supplement their income.
Here’s how Donna, their Active Super financial planner, helped.
Keeping up with the Joneses:
Ella and Paul had wondered how the Joneses next door, though better-off financially, could access the Age Pension. Donna used strategies to structure their funds so that Paul was eligible for a part Age Pension, which could supplement their income from Paul’s Account-Based Pension, and entitled him to a range of concessions, meaning they could save money elsewhere.
Donna also introduced Ella and Paul to a solution where they would never run out of income to help pay for the essentials in life, regardless of what happened in financial markets. This also had the potential to boost their Age Pension entitlement over the years.
Peace of mind:
Both were concerned that their funds may not last their lifetime, so Donna ran some modelling projections, which gave them peace of mind that they would remain comfortable. Donna also completed a risk assessment for Ella and Paul to give them comfort that they were invested appropriately. The results showed that both of them were in an option that matched their risk appetite.
To see how an Active Super financial planner could help you maximise your super for a better retirement, request an appointment now, or call us on 1300 547 873 between 8.30am and 5.00pm, Monday to Friday.
*Whether or not a fee applies will depend upon the scope of the financial advice you require. Your financial planner will discuss any fee payable when meeting with you and, if a fee is applicable, will advise you of the fee should you decide to proceed with obtaining the advice.
This case study is illustrative only and is not an estimate of the investment returns you will receive or fees and costs you will incur. Member names have been changed to protect anonymity.
This has been issued by LGSS Pty Limited (ABN 68 078 003 497) (AFSL 383558), as Trustee for Local Government Super (ABN 28 901 371 321) (Active Super). Any advice in this case study is general in nature and is not a substitute for personal advice as it does not take into account your investment objectives, financial situation or particular needs. Accordingly, you should seek professional personal advice and refer to the relevant Product Disclosure Statement at lgsuper.com.au before making a financial decision.