What happens to Super when you retire?
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When can Australians actually access their super and what triggers pension mode?
Welcome to the Australian Finance Podcast by Rask. Together we will improve your relationship with money, discover the world of investing, save more money, and design the life you want. Please don't forget to subscribe to the show on Apple, Spotify, YouTube, or wherever you get your podcasts, because we share at least two wonderful episodes every week. You should know that our favorite episodes drop on a Monday and a Friday, with bonuses on Wednesdays. Finally, to hear more from us and get show notes and all those other wonderful things like free courses, head to rask.com.au to find us online. Hey there, here's a quick note. This podcast contains general financial information only. That means it's not specific to you, your needs, goals, or financial objectives.
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Hello and welcome to this episode of the podcast. We are doing a cross-posted special live event here on the podcast. We are talking uh about the Australian Retirement Podcast and the Australian Finance Podcast in one place. Uh we are joined in studio by Tali Cavanino, the co head of advice here at Rask Advice. How are you doing?
Yeah, good. It's good to be back.
It is good to be back. You've done a few of these uh in the past. Is it your first live one?
Yeah, it is my first live. And I haven't done a podcast in Months down.
Yeah, well, no and I must say also, no one has done one on the RAS Network with Whitney Houston um welcoming us to the show. But uh that's an extra special treat. Today we are talking about retirement and superannuation. What happens to your super when you retire? Actually, what I wanted to put in the title was what should happen to your super when you retire, but I figured the AI overlords probably wouldn't like that one. What they would want to know is just what happens, not what should happen, but we're going to tell you what should happen. We're going to answer your questions on the show as well. We've got plenty sent in advance, and I've got some for Tali. Uh but the way we start these each and every week is something that maybe you've read this week, some news and current affairs, maybe it's from finance, maybe it's not, Tali.
What's something that's crossed your desk?
Um, I think the main one that's crossed my desk in the last week has been um polling popping up again um with her proposal to allow workers to take three percent of their mandatory twelve percent super contributions as take home pay. Um, I think that one's caused probably more debate than is warranted. Um I think like either side, it's not hugely impactful. Um so yeah, just another fun one from Pauline.
Yeah. It's uh she's come out with some crackers actually lately. Uh in terms of what it actually means, it's for you could take three percent For three years. Yes. And their general gist is that you could use that money towards your rents, your groceries, or your cost of living, or something like that.
Yeah.
And there's a lot of debate either side of is does it make a difference? How much is too much for super? Is 12% too much? Should it have always been 9%? Why do we need the 3%? Like there's so many uh questions that fall out of this. Um, there was uh for me, it's a bit more technical this week. Uh there's a lot happening in the superannuation system in Australia. Tali and I were just talking off air about uh an AFR article that I don't have a link to, but maybe someone can find it and put it in the chat. uh about um there was a a big number of people that uh have been starting or moving funds into self-managed super funds. Obviously there's been a lot of news about this lately. I'm not here to say pro or con, like whether that's good or bad, but it's just a a number.
Um, and it's been really interesting to focus on superannuation. Even uh ASIC, the financial cop, the regulator, has come out uh and reminded mostly financial advisors in their media release, was mostly reminding financial advisors of
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Chapters
8 chapters
1
When can Australians actually access their super and what triggers pension mode?
0:02–7:59
2
How does the tax treatment change when moving from accumulation to retirement income stream?
7:59–14:44
3
What are the differences between defined benefit funds and standard accumulation funds for retirees?
14:44–22:23
4
How do minimum pension drawdown rates work and what percentage do most people withdraw?
22:23–30:19
5
Should I pay off my mortgage with super when I turn 60 and start part‑time work?
30:19–38:39
6
What are the pros and cons of indexed high‑growth versus active high‑growth super options?
38:39–47:16
7
Do people typically switch super funds when entering pension mode and why?
47:16–54:36
8
Is an emergency cash buffer still needed once super becomes accessible?
54:36–1:02:50
Speakers
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