60, has recently stopped working. She has $500,000 in our self-managed super fund and I have $600,000. We have $700,000 outside super invested in shares and high-interest accounts in her name. We own our house outright and our kids are adults. I have a good salary and I plan to retire at 63. My income covers our expenses and allows me to save $20,000 a year and maximise my super contribution. We are considering formalising her retirement and starting an income stream pension for her.
A: As a couple with a goal of saving as much super as you can until you retire, a strategy that sees your wife start a retirement pension from her super makes sense. Craig Day, head of technical services at Colonial First State, says it will allow your SMSF to transfer a large proportion of its assets – your wife’s $500,000 to start with – into the retirement phase. In this phase,
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