DIVIDENDS AND TAX
Investing pension payout in super vs ETFs
My partner and I (in our thirties) just moved to Sydney from Europe and received our full pension payouts, around $80k AUD each. We’re deciding whether to invest in super or in ETFs. Can we transfer this lump sum into super, and is that a good idea? Would putting it in super cause issues if we leave Australia in the future? Thanks for any advice!
Grace Johnson.
14 October 2024
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1 Comments
20 days ago
Hi Grace.
There’s a lot to unpack in this scenario and it’s hard to make suggestions given the limited information involved.
Some things to think about…
— Yes, it is possible to transfer this money into super, but you lose access to the money if you do.
— Leaving Aus in the future allows you to have that money paid out to you (from what I understand).
— If you plan to stay and buy a home here, you may want to keep access to the money.
— If you aren’t sure about your future plans at this stage, it may make more sense to keep hold of the money to avoid any potential complications in the future when it comes to selling investments/super to get the money out.
Personally, I’d probably just park it in a high interest savings account until you gain more clarity around what you plan to do over the next few years.
Sorry for the non-specific answer, but hope that helps.
Dave
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