Nerida Cole on 2018 Budget outcomes and potential implications – Sky News Business

Following the release of this year’s 2018 Federal Budget, Dixon Advisory’s Nerida Cole joins Sky News Business to highlight some key takeaways and potential implications for Australians. Nerida discusses proposed changes to superannuation and considerations for retirement planning, as well as the age pension.

Content summary:

  • A focus on ageing

The proposed Retirement Income Framework aims to provide increased flexibility and product choice for retirees and people approaching retirement. Under the proposal, super funds will be required to develop a strategy to help members achieve their retirement income goals.

  • Extension of Pension Loan Scheme

In addition, the government has proposed extending the Pension Loan Scheme to full-age pensioners and self-funded retirees. This scheme allows retirees to utilise the equity in their mortgage for additional income above and beyond the age pension.

  • Changes to superannuation

As well as proposed measures in the Budget to help protect consumers, Nerida discusses how the government has signposted its intended direction for superannuation and retirement planning in future.

  • The Compulsory Superannuation Guarantee (CSG) pre-scheduled increase

Nerida also shares her thoughts on the pre-scheduled CSG increase, discussing the need to balance any future increases with the potential impact it might have on lower income earners.

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