What is Midwinter’s Transition to Retirement optimiser?
Midwinter’s Transition to Retirement module is the complete transition to retirement optimiser.
In a matter of seconds, Midwinter’s Transition to Retirement module will automatically determine the optimal level of pension income and additional superannuation contribution levels required to provide your clients with the maximum increase in total superannuation benefits.
Transition to Retirement compares your client’s current situation to implementing Midwinter’s transition to retirement strategy and in doing so, potentially provides a reasonable basis for recommending this strategy.
Transition to Retirement is extremely simple to use – it requires minimal input from financial advisers (effectively current super and income details) and instantly produces a limited SOA or SOA inserts. It allows the adviser to maintain the client’s current net income level, set a desired net income level, or set a level of salary sacrifice.
Transition to Retirement will also automatically generate the following:
Comprehensive tax and cash-flow analysis for the existing and alternative position,
Summary of outcomes including difference in net income, contribution levels, average tax paid (with and without contributions tax) and projected after-tax income,
Projected superannuation and pension levels highlighting the annual and accumulated increase in benefits through implementation of the TTR strategy.
Is Transition to Retirement easy for clients to understand?
We have put considerable effort into making the output from Transition to Retirement easy for clients to understand without compromising the underlying calculations. The software includes an implementation guide that steps an adviser through the process on how to implement the strategy they have entered.
Your clients will be able to make a decision on your recommendation, based on our easy to understand SOA documentation. The report provides answers to the following basic questions: How much am I giving up? (change in net income) What am I getting in return? (increase in final super balance).
Is Transition to Retirement product specific?
Yes, the Transition to Retirement module draws from Midwinter’s extensive database of superannuation and pension fees and features (over 600 super and 150 pension platforms currently available) – Transition to Retirement allows financial advisers to thoroughly investigate the effects of a complete range of fees on both the clients existing superannuation products and potential transition to retirement pension.