In a recent article published in Alan Kohler's Eureka Report, finacial education consultant Scott Francis looks at changes to the superannuation system announced in the Federal Budget. In particular he looks at these issues:
- Contributions cut;
- Co-contribution cut;
- Minimum drawdowns reduced;
- Limits placed on transitition to retirement income streams;
- Age pension rates increased;
- Qualifying age to access the Age Pension to increase to 67.
Scott concludes that he does not necessarily think that the system has been made worse off for investors but there are significant restirctions for some.
To take a look at the full article please click on the following link - Time to look beyond super