Vista Financial Services in Sheidow Park | Investing service

Vista Financial Services

Locality: Sheidow Park

Phone: +61 8 8381 7177

Address: 10b Commercial Road 5158 Sheidow Park, SA, Australia

Website: http://www.vistafs.com.au

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• Investing service
• Financial planner
• Financial consultant

24.01.2022 It would cost 336,500 for someone at state pension age to buy the full state pension of 175.20 per week for the rest of their life through an annuity, according to analysis by Aegon.

23.01.2022 If you feel like you’ve missed the boat when it comes to building your retirement savings, it could be time to use an often-overlooked contribution opportunity.

23.01.2022 So just what is the Superannuation Guarantee? The most common type of contribution regularly going into your super account is likely to be the Superannuation Guarantee or SG for short which is the contribution your employer (whether large or small) is required to make into a super fund on your behalf.

23.01.2022 The minimum age for drawing a personal pension in the UK is to rise to 57 in 2028, the government has confirmed.

21.01.2022 To set the scene, a non-concessional contribution is a contribution to super made by an individual personally, or by their spouse. They are not tax deductible to the contributor however a tax offset may be available where a person makes a non-concessional contribution for their spouse referred to as the spouse tax offset.

20.01.2022 UK Pension Transfers As of today 31 August 2020 there is only one public offer Australian Superannuation QROPS Scheme available to receive a UK Pension Transfer.

19.01.2022 New financial year to bring new rules for super For the 202021 financial year, the two main changes are the abolition of the work test for those aged 65 and 66 years old and the extension of spouse contribution for those aged between 70 and 75 years. We are still waiting for a change in legislation that will allow access to the bring forward rules.... Work test changes Up until 30 June 2020, there was no need for an individual to satisfy a work test for personal concessional and non-concessional contributions before reaching the age of 65. However, once they reached 65 years of age in the financial year, a work test of 40 hours in 30 consecutive days was required to be met at any period during that year, and prior to the contribution being accepted. Providing the work test is met in a financial year, personal concessional or non-concessional contributions can be accepted up to 28 days after the month in which the person reaches the age of 75. However, there are exceptions to the work test where personal contributions are made in the year after ceasing work, or for purposes of downsizer contributions. From 1 July 2020, it will be possible for those under the age of 67 years to make personal contributions without needing to satisfy a work test. In the financial year a person reaches the age of 67, personal contributions can be made prior to reaching 67 years old. However, a work test must be met at any time during the financial year prior to the contribution being made. Spouse contributions Up until 30 June this year, it was only possible to make spouse contributions up until the age of 70 years. Between the ages of 65 and 70 years, the spouse was required to meet the work test of 40 hours in 30 consecutive days for the year in which the contribution was made. However, from 1 July 2020, this has now been extended to apply to spouse contributions made between the age of 67 years, and 28 days in the month after the spouse reaches 75 years old, which puts it in line with other personal superannuation contributions. The work test must be met prior to the spouse contributions being made to the fund. Reduction in minimum pensions for account-based pensions In late March 2020, the government amended the minimum percentage required to be paid for account-based pensions by 50 per cent. This meant that account-based pensions, transition to retirement pensions, and market-linked income streams would have their minimum pension percentage reduced by 50 per cent for the 201920 and 202021 financial years. Read full article here

18.01.2022 Obtain a UK Pension (Final Salary) Transfer Value I would encourage anyone with a private UK Defined Benefit Pension Scheme (sometimes referred to as a final salary pension) to obtain a transfer value. Values have been increasing steadily over the years and it is believed that they have now perhaps peaked.... We are seeing values on average standing around 25x the current annual pension benefits. This means that if you have a UK pension and the current benefit gives you a yearly pension of 10,000 the transfer value could be 250,000. So if you are a deferred member of a Defined Benefit (final salary) UK Pension Scheme and live in Australia we strongly believe that you should be proactive in this area and we (Vista Financial Services) can request the relevant transfer values and information for you. We can then if required provide advice around whether these benefits are best placed where they are OR whether they are going to work better for you in retirement elsewhere we can then if appropriate carry out a transfer for you. Our solutions include being able to transfer to an Australian Super Fund (QROPS) where applicable which is a solution only open to people above age 55 currently (due to HMRC legislation). We are also able to provide advice on transferring into an International SIPP (perhaps as an interim measure if under age 55 until it can be transferred to an Australia Super Fund) where the money can be appropriately invested as advised by us into UK and Australian currency dominated investments (I will expand more on this solution in another post). Please note that government pensions such a NHS and Police Pension cannot be transferred neither can the UK State Pension.

17.01.2022 Simply put, superannuation (or super) is money you put in a super fund while you are working to provide income later in life when you retire.

13.01.2022 Returns from asset classes are never consistent. As can be seen from the table above, which takes into account both the Global Financial Crisis and the most recent markets volatility stemming from COVID-19, the long-term performance stories across different asset classes is starkly different. In 2019, for example, Australian listed property was the best-performing asset class, delivering a return of 19.3 per cent. In the year to 30 June 2020 the very same segment was the worst-performer, producing a negative return of 21.3 per cent.

12.01.2022 Coronavirus bank loan repayment deferral guidance issued by regulator ASIC

09.01.2022 'In Australia, the economy is going through a very difficult period and is experiencing the biggest contraction since the 1930s. As difficult as this is, the downturn is not as severe as earlier expected and a recovery is now under way in most of Australia.' - Philip Lowe, Governor https://www.rba.gov.au/snapsho/economy-indicators-snapshot/

06.01.2022 The 2020 Vanguard Index Chart powerfully illustrates how sticking to a disciplined investment plan, with diversification across a range of asset classes, will invariably override short-term markets volatility and deliver long-term returns.

05.01.2022 Retirement Planning You (like many others) may be feeling unsure about how your retirement is looking financially and how far your superannuation/investments will extend throughout retirement. You might be wondering what to do with your superannuation when you get to retirementdo you take it all out and put in the bank or do you move it to an Account Based Pension?... What about a Lifetime Annuity, you may have heard these mentioned before and how do they work? You may be uncertain about your entitlements (if any) in relation to the Australian Age Pension and how the Assets and Income Test works and whether anything you receive is taxable? If you are a UK Expat you might also be wondering what happens to any private UK Pensions you might have and what options are available and when you can access them. Also have you considered the UK State Pension? Are you eligible to receive anything, what about buying extra years as you may have heard this is possible but is it worth it and will it affect your Australian Age Pension entitlements? What about in the time leading up to retirement? Is there anything you can or should be doing to prepare? Should you make extra contributions to Super and if so, how much and how should these be contributed? What about salary sacrifice? What are the limits? If these are questions that you have and you wish to speak to someone that can help you answer them you should think about contacting us. We can provide answers to these questions and build you a solid Retirement Plan so you have a clear path mapped out for the lead up to retirement and throughout retirement ensuring you are maximising strategies that may be available to you. Vista Financial Services is a locally based, highly trusted, professional, experienced and transparent Financial Advice Practice who specialise in Superannuation and Retirement Planning. You may never have taken financial advice or no longer have an Adviser available to you or indeed have had advice but did not feel you received value. You can be rest assured that we only provide advice to clients where we firmly believe we can add value and be of benefit and we are able to advise on all of the major Industry Superannuation Funds as well as all of the major Retail Superannuation Funds. We do this by offering an initial consultation with no charge which helps both us and you understand if we can assist you and whether there is merit in working together to plan your future. You can reach here on Facebook (simply drop us a message) or: Phone: 08 8381 7177 Email: [email protected]

04.01.2022 The amount of money that a couple need each year to live comfortably in retirement has been updated for the last quarter and now sits at $62,083 net (after tax).