Tim, Emily and Team Loomis hope you and your family are safe and well. There are a number of important things we wish to highlight with the end of the financial year upon us.

Superannuation Contribution

If you are planning on contributing to your super this financial year we encourage you to discuss with your accountant whether contributing to super is appropriate for you.  Please contact our office before the 15 June as there are various ways to contribute and guidelines that must be followed.

Pension Payments

If you have an MLC Pension (income stream) and you receive your payment in the first few days of the month there is the “black out” period in July.  This means your pension payment may be delayed for beginning of July.

Please note if you are drawing the minimum income payment for your age this amount is reset on 1 July each year. As part of the Governments stimulus package they have made amendments to the minimum per centage required to be drawn for the 2020/2021 financial year.  If you have elected to draw the minimum your pension drawing will adjust to the revised minimum in the new financial year.  For further information about the changes please read the attached article – Changes to Minimum Pension Payments.

We believe MLC have sent correspondence regarding the new minimum pension payments and we will endeavour to contact those who may be impacted to confirm your cashflow will remain suitable.

Your Service

We thank you for cooperating with us as we adjust to the Covid-19 world.  We are continuing to restrict and monitor face to face interaction as a safety precaution to both our Client’s and Staff.  We look forward to reducing the restrictions along with the Government Guidelines, however in the foreseeable future our preference would be to continue to conduct our Reviews via phone.

As part of the adjustment we are sending out pre appointment Client Profile Questionnaires which we ask you to complete and return prior to the appointment.  This provides the Adviser time to review any changes to your circumstances and identify any appropriate changes to strategies prior to meeting with you.  This helps to keep the appointments efficient and productive.

In the coming months we will be introducing Fixed Term Agreements as we adjust to the compliance and regulatory changes in the industry.  We appreciate your cooperation and patience with these ongoing changes.

Our office will be in contact to schedule your next appointment, however if there have been significant changes to your circumstances, please contact our office to schedule a time to meet with either Tim or Emily.