Can you remind me of the advantages of taking the pension payment? I know the pension payment to me is tax free once I’m 60. My understanding is that while I leave it in my Super the earnings get taxed – is this correct? What is the situation if I have the majority of funds as a Pension instead? Are any earning there taxed?
We need to break this down into the simple steps involved in the broader Transition To Retirement (TTR) strategy and its evolution.
Firstly congratulations on the sale of your house and purchase of your “retirement” home, it’s great to see client’s plans taking shape.
As a couple you have already overcome what I see as the biggest challenge and that is taking the initiative to think about your lifestyle from here on.
Your question as to where the proceeds from your house can be parked pending the completion of your new property may seem a fairly simple one, but we still need to consider the same sort of issues as when we are investing for the longer term in the likes of Super etc.
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