From 1 July 2017, a ‘transfer balance cap’ of $1.6 million will be introduced that limits the amount that can be held in the retirement (pension) phase of super.
You currently exceed this limit so it’s important that we meet to discuss your options which may include transferring some of your pension money back to the accumulation phase of super to ensure you don’t incur a penalty before
Also, taking action before 30 June means you could potentially benefit from capital gains tax relief.
It’s important to review your financial situation and make suitable plans to ensure you stay on track to achieving the retirement lifestyle you want.
To make an appointment, please contact your Judge Adviser on 4032 7934 to arrange a suitable time.