THE ABILITY TO LIVE YOUR WAY IN RETIREMENT
At Powers we know pension strategies and our goal is make sure your SMSF has the pension strategy that suits you
Our Pension Strategies look at what you need to put in place to establish a pension from your SMSF.
- Minimise your pension as you have other sources of income
- Maximise your entitlement for a Government Pension or
- leave a residual benefit for your children and grandchildren.
Our Pension strategies help to meet the needs of your SMSF. A pension can be paid from your SMSF once you reach the age of 55, based on the capital in the SMSF each year and the age of pensioner. The pension must be paid at least yearly and if you are over 60 will be tax free.
Just because you have commenced a pension does not prevent you making further contributions to your SMSF should the opportunity arise.
Your SMSF will be a key component of your retirement planning as the SMSF can be used to pay lump sums or concessionally taxed income streams. If you are over 60 the benefits paid from an SMSF will be tax-free.