Are you ready? Finance for over 60s

January 5 |  

2021 is the year to build healthy habits

When you’re in your late 50s or over, retirement is just around the corner, so it’s time to find ways to add more funds to your retirement account. This may mean revaluating your budget to ensure you end up with the retirement you want and come to understand what entitlements you have under super.

1. Know what your super fund can do for you

Once you hit age 60, you may be able to save on tax when contributing to your super account. The way in which you could do this depends on your situation and you’d need to speak with us so we can understand your needs in retirement.

Knowing these entitlements can make a significant difference to your retirement goals. Did you know that when you transfer some or all of your accumulation account balance to start an eligible Vision Super retirement pension for the first time on or after 1 January 2021, you may receive a credit towards the establishment of your pension account? We refer to this credit as a Retirement bonus. You may also be eligible to a Retirement bonus when your Vision Non-commutable account based pension becomes a retirement income stream.

2. Invest for the decades to come

You may be viewing age 65 as the “end goal” but that’s not always the case. You’re likely to live 20 years or more and if you’re 55 now, that’s an additional 35 years of investing and dealing with market fluctuations. Compounding interest is as important when you’re in your 20s as it is in your 60s. Take things step by step and think about the long-term and you will find that your money may work hard to take care of you later on.

3. Avoid acquiring new debt

When your children fly the coop, you may decide to downsize but you might want to focus on avoiding acquiring new debt. Before you decide to take on new long-term debt, consider your cashflow and how it will impact you in retirement when you have no new income coming in.

Financial advice

There are many ways you can make your money work harder for you, and you’re not expected to know them all. If you’re confused about strategies like salary sacrifice, let the experts handle it – generally this financial advice on single super topic comes at no cost to our members. If you’d like to have a chat with us about how to make your savings grow, call us on 1300 300 820 Monday to Friday 8:30am to 5pm.


January 5 |  

Must Reads

Feature, Fund news, Investments, must read  |  8 min read

US Inflation

It has been over a year since COVID-19 ended one of the longest equity bull markets in US history. Governments and central banks responded quickly and, as a result, global equity markets have not only recovered but some have hit record highs.

Feature, Fund news, Investments, must read  |  2 min read

Investment update March 2021

Auction clearance rates have recently reached elevated levels and this has coincided with very strong growth in house prices across Australian capital cities.

Feature, Fund news, Investments, must read  |  2 min read

Investment update October 2020

The global pandemic has created heightened levels of concern around asset valuations, especially for infrastructure and property assets.

Feature, Fund news, Investments, must read  |  3 min read

Investment update Sept 2020

September saw positive returns as investors continue to adjust to the ‘new normal’ of the Covid-19 affected world.

Build a better future for you and your family

Invest in your future self

Sustainable products, quality advice, education and of course, low fees.

You have options when it comes to saving in your super and drawing from it on retirement. Find out which of our retirement products is most suited to you.

The Latest

General, Investments  |  4 min read

Portfolio defensiveness – Part 2

Diversified bonds is an asset class that typically provides defensiveness during unfavourable investment environments.

Feature, General, Investments  |  3 Min read

Portfolio defensiveness – Part 1

Vision Super has a wide range of multi-asset class investment options for members. When designing these options, one consideration is ensuring an appropriate level of defensiveness given the investment objectives of the option.

General  |  4 min

Investment Update – June 2021

Despite the uncertainties associated with Covid-19, most of our investment options have seen strong returns in 2020/21.

Already a Vision Super member?

The great news is you can now open your pension account online through the secure site.

Not a Vision Super member?

You’ll just need to open a Vision Personal account first and then you can transfer across to a Vision Super pension.