Opinion

Why over 70s are pouring money into super like never before

Removing the work test has allowed more people to take advantage of a strategy that reduces tax on an inherited nest egg.

Peter BurgessContributor

Oct 17, 2024 – 5.00am

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Although much of the recent discussion has been about a younger cohort opting for self-managed superannuation funds, almost a quarter of SMSF members are aged 70 and over.

That they choose to do so should come as no surprise. Having an SMSF can make it easier to implement and maximise the benefits of strategies designed to grow retirement savings and income.

Peter Burgess is CEO of the SMSF Association.