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It was fun while it lasted…and there is probably more fun ahead

Well it had to happen sooner or later. After seven successive monthly gains, share markets gave some ground in October. Over the month, the US S&P500 index fell by 2%, while Australia’s ASX200 fell by a little over 2% (and then began November poorly). (more…)

As a result of the significant downturn in financial markets, the Government has announced a 50% reduction in the minimum drawdown requirement for account based pensions for the year ending 30 June 2009. This will apply to account based, allocated and term allocated pensions and annuities. (more…)