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Global Pension Time Bomb

The world’s ageing population has recently been described by the World Economic Forum as the financial equivalent of climate change.  A study of the world’s 6 largest global pension schemes (essentially the aged pension that governments pay those who have retired) in the US, UK, Japan, Netherlands, Canada and Australia found that by the year 2050 there will be a shortfall between what needs to be paid and what governments can afford of some $224 trillion.
Governments simply won’t be able to afford to fund retirees via age pensions.  The main reason for this is the world’s ageing population, there’s an ever-reducing number of younger people in the work force generating income and taxes to fund the pension schemes that are designed to look after people when they retire.
Traditionally, the three stages people would go through is they would become educated, work for 40 years or so, retire at 60- 65 and live off the pension until they died at say 70-75 at best.
More recently, there has be…
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Let's Meet and Discuss your Super

A common misconception about income protection insurance is that it’s only for high-earners, but this isn’t the case. In reality, no one can afford to be without this safety net, regardless of the amount of income you earn.

The only things certain in life are death and taxes—or so the famous saying goes. Thankfully, income protection insurance can add a positive guarantee to that list by safeguarding your quality of life, should an unexpected setback strike. 

You can’t predict the future, but you can plan for it Nobody wants to consider an accident or illness impacting their health suddenly, but it’s a very real possibility. As well as changing your lifestyle, an unexpected illness could mean you need to take extended leave from work.

It’s estimated that over 400,000 Australians suffer a heart attack sometime in their lives.i Then there’s over 800,000 people of working age with disability, who were not working in 2015 alone.ii It’s tempting to think that if you lead a healthy lifestyle …

Bye Bye Email Appointment setting.

Say goodbye to the text and email back and forth tag game to find the perfect meeting time.

Your job, your lifestyle, your family circumstance can change quickly.Your super should reflect all your life changes as quickly as you do.
In the new year, make it your resolution to have a check up on your latest super statement + insurances.  
Just tap the Calendly link to book your 1 - hour mining super review with me.
Need a return Uber ex Brisbane CBD? It’s on me.  Just let me know when you make your online Calendly appointment.
The wet season in Queensland normally means December through to February is particularly slow.  
That being the case, why not set aside an hour during your next hitch break to review your latest super statement?  Make a Calendly appointment with me for an online chat, a phone conversation or face to face appointment at our Hamilton Office for a coffee (I make a pretty mean latte)...
During our catch up, we can have a look at your superannuation returns for the year and …

Unlocking the Mystery of your Super Statement

Superannuation statements. Boring, right? But if, like many people, you toss your annual super statement in a drawer or hit delete, you could be depriving yourself of many thousands of dollars just when you need it. It’s worth the small effort to take a closer look at your superannuation statement. If everything is in order, you’ll get a warm glow from watching your nest egg grow. Conversely, a quick check of your statement may reveal some of the common problems that occur with super; and the sooner these are fixed the quicker your savings can increase. What to look for The layouts of statements vary between super funds, but there is standard information that must be provided. Some items may appear in summary form, with a detailed breakdown shown elsewhere. Here are the key things to look for: ·Contributions or funds in. This will cover employer and personal contributions, government contributions and rebates, plus any rollovers. If you’re an employee earning more than $450 per month, yo…

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Are You Entitled to Long Service Leave in the Mining Industry?

I often get asked about eligibility for long-service leave.
There seems to be a little bit of confusion surrounding this topic. 
Traditionally, long service leave applies to an employee who has been with the same employer for several years (typically 8-10).
Depending on the industry, an amount of leave is available after that time.  For example, some industries provide 1.3 weeks of long service leave for each completed year of service.After 10 years they are eligible for 13 weeks.
Of course, if you leave that employer prior to the 10 years, it’s unlikely any accrued amount will be paid out and in most cases, it’s not transferable to the next employer.
In the Coal Mining Industry, things are a little different.  In 1992, the Australian Government introduced the Coal Mining Industry (Long Service Leave) Administration Act.
It’s a complicated piece of legislation.However, the idea is to allow eligible employees to transport their accrued long-service leave from one employer to the next. 
Eligi…