Preservation Age Rules affects those born after 1 July 1960

The preservation age will progressively from age 55 to age 60, when it will progressively increase until it reaches age 60 on 1 July 2024.

The superannuation impacts include:-

  • accessing benefits under conditions of release that are based on perseveration age, such as retirement
  • the commencement of a transition to retirement pension, and
  • access to benefits under financial hardship provisions

The changes outside the superannuation fund itself: are-

  • the taxation of superannuation payments 
  • the taxation of employment determination payments, and
  • spouse contributions splitting

As an illustration of the new preservation age formulas, for those born between 1 July 1960 and 30 June 1961, the required age is 56 years.

 

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Cristy Houghton

Embarketing, 48 Johnston Street, Wagga Wagga, NSW, 2650

Cristy's unique career has taken her from country NSW to the city lights of Clarendon Street South Melbourne and back again. With an early career in radio as a copywriter and creative strategist, she is now a Jill of all trades as a graphic designer, website builder, blog writer, video editor, social media manager, marketing strategist and more. 

In fact, give her any task and this chick will figure out how to do it! Go on, we dare you!

No, really, we DARE you!!

Cristy has won two Australian Commercial Radio Awards (ACRAs) for Best Ad and Best Sales Promotion, and even has an 'Employee of the Year' certificate with her name on it.

Cristy and her husband James have traveled extensively through Russia, China and South East Asia, and have two fur-babies, Sooty (cat) and Panda (puppy). Cristy loves drinking coffee, meeting people to drink coffee, coffee tasting and coffee flavoured cocktails. She also enjoys road trips, TED Talks and watching cat videos on youtube.