Luke on 2CC – PSS benefits, your contribution matters!

05/31/20 • -1 min

The PSS benefit you receive is partially determined by what you add

Luke Smith joined 2CC Talking Canberra 1206AM.
The Money Show aired on Friday 29 May 2020 and the topic: PSS Super- The Public Sector Superannuation Scheme.

In today’s topic Financial Planner Luke Smith joins Leon to explore the opportunities many people who work for the Government don’t realise they have with the PSS Scheme. Leon and Luke start the show talking about the Covid-19 re-start of the NRL football season with the Canberra Raiders playing this weekend with the Melbourne Storm. Go Raiders!
(Post game note: Good news, Canberra won 22-6, sorry to the Storm fans listening).

Key highlights include:

What is the PSS?
How is your final benefit calculated?
Do you know why it’s a good fund to be a part of?
What is the benefit of making a 10% contribution if you can?
What’s the difference between making a 5% contribution and a 10% contribution?
Can you have a second superannuation fund to salary sacrifice if you wanted to save more to super?
Does the PSS take new members? Sadly no!
How should you take the PSS once you retire? Pension, Lump Sum or Combination?
Start thinking about your PSS with the end in mind – the sooner you start the better!
An offer for a free appointment to talk about your own financial planning needs.

Listen to the Podcast right now

https://www.envisionfinancial.com.au/wp-content/uploads/2020/05/29.05.2020-The-Strategy-Stacker-Luke-Talks-Money.mp3

Also available on Apple Podcasts and Spotify ‘The Strategy Stacker – Luke Talks Money’

Would you like advice about your PSS and retirement plans?

Make an appointment to catch up with Luke over the phone or via video conference. Appointments at the office will also return very shortly!

Envision 2CC offer: Your first appointment is at our cost – even over the phone or by video chat. Make an appointment to confidentially discuss your PSS and retirement goals. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.

Luke will return to talk about financial planning on 2CC Talking Canberra next Friday from 4.30pm. Tune into listen live or visit our website again to catch up on the podcast. You can also check out our YouTube Channel at Envision Financial Canberra.

The PSS benefit you receive is partially determined by what you add

Luke Smith joined 2CC Talking Canberra 1206AM.
The Money Show aired on Friday 29 May 2020 and the topic: PSS Super- The Public Sector Superannuation Scheme.

Key highlights include:

What is the PSS?
How is your final benefit calculated?
Do you know why it’s a good fund to be a part of?
What is the benefit of making a 10% contribution if you can?
What’s the difference between making a 5% contribution and a 10% contribution?
Can you have a second superannuation fund to salary sacrifice if you wanted to save more to super?
Does the PSS take new members? Sadly no!
How should you take the PSS once you retire? Pension, Lump Sum or Combination?
Start thinking about your PSS with the end in mind – the sooner you start the better!
An offer for a free appointment to talk about your own financial planning needs.

Listen to the Podcast right now

https://www.envisionfinancial.com.au/wp-content/uploads/2020/05/29.05.2020-The-Strategy-Stacker-Luke-Talks-Money.mp3

Also available on Apple Podcasts and Spotify ‘The Strategy Stacker – Luke Talks Money’

Would you like advice about your PSS and retirement plans?

Make an appointment to catch up with Luke over the phone or via video conference. Appointments at the office will also return very shortly!

Previous Episode

Luke on 2CC – Tax deduction planning and June 30

Start your EOFY tax deduction planning now

Luke Smith joined 2CC Talking Canberra 1206AM.
The Money Show aired on Friday 22 May 2020 and the topic: Tax deduction planning and the end of financial year.

In today’s topic Financial Planner Luke Smith joins Leon to explore the opportunities around planning for the end of financial year. They start the show though with a drum roll, after 8 weeks Luke joins Leon back in the studio. Australia has done better than others to manage Covid-19 and let’s hope the good results continue as we slowly emerge back to pre-covid life.

Key highlights include:

Working from home during Covid-19? There’s a tax deduction there.
Personal deductible contributions to boost your super and save tax. Don’t forget about the $25,000 limit and the carry forward credits that you might not have used from last year!
Pre-paying interest on an investment loan where the interest is tax deductible
Claiming income protection premiums, where the insurance is held in your name
Self employed opportunites – The 150k Instant Asset Write Off, this includes second hand good purchases too!
Pre-retirement strategies – using pension payments to fund personal deductible contributions to boost your super and save tax!
How do you make the most of your options?
The 30th June in 2020 falls on a Tuesday, but don’t leave it to the last minute to plan – start now.
An offer for a free appointment to talk about your own financial planning needs.

Listen to the Podcast right now

https://www.envisionfinancial.com.au/wp-content/uploads/2020/05/22.05.2020-The-Strategy-Stacker-Luke-Talks-Money.mp3

Also available on Apple Podcasts and Spotify ‘The Strategy Stacker – Luke Talks Money’

Are you ready to take advantage of your financial options?

Make an appointment to catch up with Luke over the phone or via video conference. Appointments at the office will return once the Covid-19 has passed, shortly we hope!

Envision 2CC offer: Your first appointment is at our cost – even over the phone or by video chat. Make an appointment to confidentially discuss your investment, personal insurance or retirement matters. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.

Next Episode

Luke on 2CC – Preparations for June 30

Set yourself up for the New Financial Year right now

Luke Smith joined 2CC Talking Canberra 1206AM.
The Money Show aired on Friday 5 June 2020 and the topic: Preparations for June 30 tax and setting yourself up for the new financial year.

In today’s topic Financial Planner Luke Smith joins Leon to explore the opportunities that the end of financial year presents. It’s a great time to review and plan, to ensure you make the most of your tax deductions and consider your goals for the new financial year which is just around the corner. Leon and Luke start the show talking about why now is the time to think about your goals and opportunities.

Key highlights include:

Deductible contributions to super and checking your super statements
Prepaying what you can to secure tax deductions
Preparing for retirement – bolstering contributions before you stop working
Making the most of carry forward contributions too
Considerations for the self-employed, bill now or wait for July? Asset write-offs
Review the budget – do you know where you’re money is going?
Some of the key strategies you can stack in your favour may include:
- Non-concessional contributions to super if you’re retiring
- Reviewing your insurance to make sure it still meets your needs
- Making tax deductible contributions to super or PSS contributions if you’re a member of that fund
- Reviewing your home loan interest rate
- Using offset accounts more strategically to fund tax deductions
- Consider your super investment strategy
- Organise your paperwork for the accountant
An offer for a free appointment to talk about your own financial planning needs.

Listen to the Podcast right now

https://www.envisionfinancial.com.au/wp-content/uploads/2020/06/ENVISION-FINANCIAL-PODCAST-050620.mp3

Also available on Apple Podcasts and Spotify ‘The Strategy Stacker – Luke Talks Money’

Would you like help with your own financial goals?

June 30 is a great time to review your situaiton and make some new goals for the coming financial year. We’re very pleased to let you know that we’ve returned to the office for appointments. Make an appointment to catch up with Luke face to face, over the phone or via video appointment.

Envision 2CC offer: Your first appointment is at our cost – even over the phone or by video chat. Make an appointment to confidentially discuss your financial and retirement goals. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.