Superannuation: "Non-concessional contribution"

Strategy Name: Non-concessional contribution
Type of Strategy: 'Variable' Strategy *
Impact on modelling: Money is moved from the Bank Balance to the Default Superannuation Account 
Default: 50% of Monthly Net Surplus Cashflow is contributed to Default Superannuation Account until the client retires. 
 

Recommendation: In this example, we are recommending that the client contributes $50,000 from their Bank Balance to their Superannuation account immediately. 

1. Increase/Decrease: For the purpose of this strategy, we would always recommend selecting Increase
2. Amount: A 'variable' strategy will allow you to either choose Relative or Fixed. For a NCC recommendation, you are typically going to recommend a Fixed amount so we would recommend selecting the relative drop-down and changing this to fixed. This will then allow you to enter a dollar amount.  
3. Repeats: Options available are; Monthly, Annually, Custom or Doesn't Repeat (i.e. one-off). Select the frequency relevant to your advice, in our example, this is 'Doesn't repeat'. 
4. Starts: You have the option to recommend this 'immediately' or set a future date or client age. 
5. Ends: Only applicable if you have selected Monthly, Annually or Custom in the repeats field. Select the end date relevant to your advice. 

* A variable strategy represents a strategy that is impacting one modelling variable. In this example, Post Tax Superannuation Inflow.