NEWS

A new “lifetime” retirement solution is being developed aimed at addressing one of the most pressing concerns for Australians - the risk of outliving their retirement savings. Research from UniSuper shows that 68 per cent of Australians fear running out of retirement savings, leading many to restrict their spending and compromise their lifestyle. Additionally, research from HUB24 data suggests that 52 per cent of pension members are only withdrawing the legislated minimum pen

The downsizer contribution should be seen as a final strategy to boost superannuation savings, a leading adviser has said. Liam Shorte, director of SONAS Wealth, said at the SMSF Adviser Technical Strategy Day in Sydney last week that he considers the downsizer strategy as “the final contribution” because it's a one-off contribution that can be used at any time after the age of 55. “You don't rush it just because the government [gave the age threshold] as 55. You don't have t

Technology should be used to enhance the auditing profession, but should not come at the expense of human expertise, a leading auditor has said. David Saul, chief executive and managing director of Saul SMSF, says with advances in artificial intelligence, data integrity systems, and blockchain-enabled reporting, the auditing sector has an opportunity to create an SMSF ecosystem that is not only more efficient, but also more transparent and predictive. “[With AI] auditors can