Monthly Musings

Your Entrust Wealth Management “Monthly Musings” for the month of August has arrived. In this edition we will:

• observe the market movements for the month,
• re-visit an episode of our short video series “3 Minute Tech” titled “Who Gets My Super When I Die?”,
• provide a paper in Focal Point that looks at Reducing Death Benefit Tax in Superannuation,
• provide a great insight into our Head of Entrust Wealth Management, Rowan Jones, and
• suggest another book that might be worth a read.

Minimum Pensions

Over the past four completed financials years up to 30 June 2023, the Government reduced the minimum annual payment required for account based and market linked pensions. For the current 2023/24 financial year, the 50% reduction in minimum pension drawdowns no longer applies. This throws up some considerations for retirees and those transitioning into retirement, as the extra funds may require further attention.