Eureka correspondence

Superannuation caps and part age pensions.

Part age pensions key in super changes

Scott Francis' article on June 8 shows a home owning couple with $850,000 in assets will have a total income of approximately $28,900 from these assets after 1st  January 2017. They will lose the part Age Pension of approximately $14,000.

This couple will go from having an income of $42,900 to an income of $28,900 and will lose their concessions for Council Rates etc. Why is this group not vocal? Why should the rules change once retirement has been set up? Cost of living is going up not down.

-- Tricia 

Non-concessional contributions...

I read with interest your article this week on Super and the Transition to Retirement. You didn't comment on the retrospective non concessional level having a lifetime cap of $500,000.

As someone who has always supported the coalition and always will being in my own business plus not believing in "magic puddings" as the opposition do, I do struggle with this cap. I am 56 and have just started into the transition, but would still like the opportunity to continue to grow the fund even if I have to pay some tax on the way in.??

-- John

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