Can my wife commence her transition to retirement while I continue
to contribute to her super?
Q.
I am 52 years old and belong to a defined benefit fund which I
salary sacrifice to. My wife is 56 years of age and is working part
time. Each year I contribution split my salary sacrifice amount up
to 85% into her superannuation account. When my wife turns 60 we
intend to retire and live off her super until such time as I turn
60. In the interim can my wife begin a transition to retirement
whilst I continue to contribution split each year? If this is
possible I will increase my salary sacrifice accordingly.
A.
A transition retirement pension is a great strategy for anybody
who has reached 55 and I agree that you should be salary
sacrificing to the maximum as long as the extra contributions will
mean a higher end benefit for you.
Each week financial advisor Noel Whittaker answers your
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