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From 20 September 2026, Australia's social security deeming rates will rise by 0.5%,
These are common questions we hear from clients about to retire or already retired - regardless of how much wealth they’ve accumulated. With all the mixed messages in the media and the complicated rules around superannuation, retirement incomes and tax, managing wealth in retirement can feel overwhelming. Ensuring you live the retirement you deserve, takes careful planning - you need a budget and some goals!
At its October meeting, the Reserve Bank of Australia (RBA) left the cash rate on hold for the fourth meeting in a row at 4.1%. The pause in interest rates over the last four months comes after the biggest interest rate increase cycle (400 basis points over 14 months) since the late 1980s. The rate increases since April last year mean that a variable rate borrower with a $600,000 mortgage will have seen around $1,300 a month added to their mortgage payments. That’s $15,600 a year!
Following the March inflation data, Australian students who still have HELP/HECS debt, will be hit with a major increase come 1 June 2023. Whilst interest is not charged on HELP/HECS loans, the amount of the debt is adjusted on the 1st of June each year, in accordance with an annually determined inflation factor. It is based on the year-on-year CPI figure, measured quarterly up to the end of March. Therefore, the rate of indexation for 2023 will be 7.1%. This is the highest indexation rate seen in 32 years.

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You may have seen the headlines about the collapse of the Shield and First Guardian Master Funds. It’s a confronting story, with almost 12,000 Australians affected and over $1.2 billion of retirement savings gone. Many only found out only when a letter arrived saying their super had vanished. It’s the kind of thing that makes all of us stop and check our own arrangements.
You’re retired and you’ve set yourself up well financially. You have no debt, no job to lose, no (or little) taxable income, no kids eating your fridge out and ready access to capital. You’re the envy of every financially stressed 40 year old with years of pressure head of them; possibly your own children. You wonder how you can help but you don’t want to just hand over cash without a purpose, and you also don’t want to create dependency or expectations.