Who benefits, after you've gone?

Article Abstract:

The amended definition of 'dependent' for superannuation funds is effective from June 30, 2004, and applies to anyone who has an 'interdependency relationship' with a person. Super-fund members and trustees of do-it-yourself (DIY) funds will as a result of the amendment have to give greater consideration to making death-benefit nominations to ensure that their superannuation goes to the person or persons of their choice.

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Super pensions on the brink of change

Article Abstract:

The retirement income streams described by the Federal Government as term allocated pensions make their debut on September 20, 2004 in Australia. Under the new term allocated pensions, one can either choose to take a pension where the income is calculated based on the average life expectancy or can choose a term up to life expectancy if one wishes to make the pension last longer.

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Super choice

Article Abstract:

The two premises on which the government's rationale for choice is based are providing employees more control and ownership over their superannuation as well as increasing demand for a more financially independent retirement. The significant elements of the industry that are wary of choice of fund are presented.

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