When someone retires after the age of 60, their superannuation savings become ‘unrestricted non-preserved’ and can be converted into pension phase, or even fully withdrawn from the superannuation environment as a cash lump sum.
From my many years of financial planning, I can attest that it is this ability to freely access their own capital that gives Australians the peace of mind to make personal superannuation contributions, and actively seek to grow their superannuation balance.
However, Labor, via their bureaucracies, are undermining this.
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