A new service for investors over 55. Self Managed Pensions.
When an SMSF moves into pension phase - when it is paying pensions to its members - the tax rate on income and capital gains from the assets held in the SMSF's pension account becomes zero. This means that anyone over the age of 55 can convert their super into a pension even while they are transitioning into retirement.
The Self Managed Super Institute has recently launced self managed pensions to help investors over the age of 55 to take advantage of this valuable concession.
"For investors wanting to invest in bank term deposits and a sprinkling of bank shares then a self managed pension id ideal way to protect your capital and minimise tax", says Russell Medcraft CFP.