Items which should be entered under Superannuation
- The following should be added as Superannuation:
- Retail Superannuation funds
- Industry Superannuation funds
- Do not enter under Superannuation:
- SMSFs (Self-managed super funds) - these should be entered separately in Pathfinder. For more, see SMSF (Self-Managed Super Fund).
How to add a Superannuation account
To add an existing Superannuation fund:
- Go to the Current Situation > Super & Trusts (top-menu). Then, click the +Add SUPER button (on the left menu)
- Within the existing Superannuation fund, you must then add at least one investment option (e.g. Balanced, Conservative), by clicking the Add investment to super fund button that will appear on the left menu underneath the superannuation fund.
- If you would like to add a new investment option to the existing super fund, you then need to:
- Go to the Cashflows & Goals step (top menu), then the Review super funds sub-step
- In the Existing super funds section, find the super fund
- Within the section for that fund, click the Add new investment to super fund button
To add a new or proposed Superannuation fund:
- Go to the Cashflows & Goals step (top menu), then the Review super funds sub-step. Then, click the +Start a new super fund button (at the end of the page).
- Within the existing Superannuation fund, you must then add at least one investment option (e.g. Balanced, Conservative), by clicking the Add new investment to super fund button that will appear on the left menu underneath the superannuation fund.
Data entry tips
- If an individual only has one existing superannuation fund, and isn't opening a new one, then in Cashflows & Goals step, you just need choose the robot icon for the existing superannuation fund.
- If an individual has two or more of:
- An existing superannuation fund
- A new superannuation fund
- An SMSF
Make sure that the instructions you give at the Cashflows & Goals step keep at least one fund open for future contributions otherwise you will get errors in the results (e.g. if you have two superannuation funds, and close them both without adding a new superannuation fund, the results will have an error because there will be nowhere to deposit future contributions). You should check the results to ensure they are what you were expecting.
|Within a super fund, rebalance from one investment option to another|
To rollover all funds from one investment option to another (e.g. change from a 'Balanced' investment option to a 'conservative' investment option so it is more consistent with the individual's risk profile):
|Keep super investment options in a ratio|
Within a super fund you can instruct Pathfinder to keep investment options in a certain ratio (e.g 50% Growth and 50% Balanced):
|Rollover funds from one super fund to another|
To rollover funds from one superannuation fund to another:
|Keep a minimum balance in a superannuation fund|
If a minimum balance should be kept in a superannuation fund (e.g. to keep insurance and pay its premiums):
If you set a maximum balance on a superannuation fund, and the individual is still making super contributions, then make sure another fund is kept open without a minimum balance (e.g. has the robot icon selected).
|Pay insurance premiums out of a superannuation fund|
If insurance is being paid out of a superannuation fund:
|Pay financial planning fees out of an existing superannuation fund|
If financial planning fees are being paid out of a superannuation fund, the tax deductible status will be worked out automatically. To enter the fees:
|Start a transition to retirement (TTR) pension|
|Start or continue an account based pension|
|Super Transfer balance|
You can enter details for this on the Individual form.
More modelling tips
Results for Superannuation Funds
Strategy Development Service (SDS) options
If the case includes complex analysis that you are not able to do in Pathfinder yourself, it may need to be submitted to the Optimo Financial SDS. Complexities include, but are not limited to:
- Defined benefit pensions
- More flexible control of super investment options that what is listed above (e.g. re-balancing in a future year such as retirement)
- Some SMSFs (see the SMSF (Self-Managed Super Fund) help documentation for more details)