Category: NEWS

We are pleased to announce the launch of our actuarial certificate service to superannuation trustees, auditors and accountants via the BGL platform. Through the use of API technology, all account balances and transactions are compiled in real time and presented as charts instantly. No data entry and no waiting.

All our certificates are reviewed by our inhouse actuary and all users can review their fund balances across the current tax year in real time as follows:

Then the results are presented immediately as a daily percentage chart allocated between taxed and untaxed balances together with the overall Tax Exempt Percentage for the year. A sample is as follows:

More information can be found about us on BGL’s help page here.

We hope that you like our approach to providing timely and relevant actuarial certificates.

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If you would like to take advantage of this service, please defer to BGL and their SimpleFund360 platform.

An exercise in data matching by our actuaries has placed a value on the Australian Government’s Income Support for Seniors at an average of $203,600 per pensioner. Given that the total number of eligible pensioners is just over 2.5 million at June 2019, that is a total value of $516 billion of liabilities funded by the Australian Commonwealth Government.

It was also noted that these benefits fall back to the Commonwealth Government to finance from ongoing consolidated revenue. Given an aging population and declining taxation base, this means there are some issues of equity between generations…….Ideally, there would be an equivalent to the Future Fund to safeguard and protect the rights of pensioners from the pressures of future budgets ……….of around $586 billion.

Continue reading “Old Age Pension Liabilities Valued at $516 billion” →

The 2019 budget announced that from 1 July 2020 superannuation funds will be able to choose which method provides them with the best tax free ECPI%.

Superannuation trustees should use the opportunity to double check their annual ECPI% against there existing advisor’s. Our particular method coincides with “whole-of-year unsegregated assets” and may be worth comparing against other methods.

In fact, why wait and double check your fund for this year!

Actuarial Certificate - Online Form

Are you ready to retire? How long will the Government’s new $1,600,000 limit on concessional superannuation last you? And how much income will this generate if you retired today?

The answer is, “for the rest of your life!” when it is a lifetime annuity. Our actuaries have calibrated the value of $1.6M to be equivalent to an income stream of:

$123,600 p.a. for a 65 year old male or

$113,770 for a female (when indexed to the CPI).

How much superannuation do you have and how much income would you have if this were converted into a lifetime annuity today?

For all these answers, please visit our no obligation, online annuity calculator at:

Online Annuity Calculator

The ATO has updated its guidance around exempt income for SMSFs and when segregated assets apply. It simplifies the current approach for funds that are in 100% pension phase for part of the year by allowing for assets to be classified as “segregated” for that portion of the year coinciding with pension payments.

But the ATO also stressed that actuarial certificates must still be obtained when unsegregated assets apply or even in certain circumstances when segregated assets applies.

There is some leeway given to trustees who had not applied the ATO’s latest clarification to income years 2016/17 and prior. Full details can be found on the ATO’s updated website here.

Our easy online form can also be used to assess whether your fund requires an actuarial certificate this year.

Actuarial Certificate - Online Form