Tag: retirement fund guide
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Early Superannuation Release: Financial Hardship Relief and Considerations
Early release of superannuation due to severe financial hardship can provide a lifeline for individuals facing financial struggles. While superannuation is typically preserved until retirement, certain circumstances allow for early access. Under Australian law, individuals meeting strict eligibility criteria and whose super funds permit it can access up to $10,000 if they are receiving Centrelink…
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Superannuation Contribution Caps to Increase, Benefit Older Workers
Superannuation contribution caps are set to increase for the first time in three years, thanks to robust wages growth data released by the Australian Bureau of Statistics. These caps, which govern both concessional and non-concessional contributions, are tied to wages growth and are periodically adjusted. Come July 1, the concessional contribution cap will climb from…