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Superannuation
Provident offers super solutions designed for individuals, small to medium enterprise, as well as large organisations.
Super is one of the most tax-effective ways to save for your retirement. The concessions that super provides means that you can potentially have more money working for you generating higher after-tax returns, than similar investments held directly.
It is also often possible to hold personal insurance coverage within superannuation. This can be a highly cost effective way to pay for your personal insurance due to the use of pre-tax or tax deductible contributions.
Access to superannuation
In return for these tax concessions, the government places restrictions on when you can access your super. These restrictions provide limited access to your superannuation until you reach retirement “preservation age”.
| Date of birth |
Preservation age
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Before 1 July 1960
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55
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Between 1 July 1960 and 30 June 1961
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56
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Between 1 July 1961 and 30 June 1962
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57
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Between 1 July 1962 and 30 June 1963
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58
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Between 1 July 1963 and 30 June 1964
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59
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On or after 1 July 1964
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60
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There are also other limited circumstances in which you can gain access, such as total and permanent disablement and severe financial hardship.
There are many superannuation providers each with different features, cost structures and benefits so advice is critical for choosing the right structure for you.
Although structural issues are important, it is often the strategies around super that make the biggest difference to your retirement wealth.
Our highly qualified group of financial planners can create personalised strategies that make a significant difference to your super.
Self Managed Super Funds
Greater flexibility and control have encouraged many people to turn to self-managed superannuation (SMSF) to meet their superannuation investment needs. However, managing your own super fund incorrectly can result in very significant penalties.
Self managed superannuation involves many complex rules and regulations. Time and expertise are required to keep up to date with legislative changes as well as ensuring the investments are well structured.
We can provide you with a fully integrated approach by combining access to market-leading investments and tailored strategic advice.
We will enable you to maintain direct control as trustee of your own fund while guiding you through issues of compliance, and outlining your responsibilities as trustee. We can also assist with estate planning.
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Want to make a difference to your super?
The first step to really understanding and taking charge of your super is to work out how much you'll need to retire. The AMP super simulator can help. With just five simple questions, it will give you a sense of how much you may need and let you see if you're on track.
And, once you know your goal, you can explore our range of strategies designed to help make a real difference to your super.
See our Superannuation calculators
Any advice contained in this document is of a general nature only and does not constitute personal financial product advice. In preparing the advice no account was taken of the objectives, financial situation or needs of any particular person. Therefore, before making any decision, readers should consider the appropriateness of the advice with regard to their particular objectives, financial situation and needs.
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