Pension Funds Assets
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Joseph Said:
( Singapore )Are CPF Funds considered matrimonial assets in a divorce?We Answered:
The Singapore Court recognised the CPF as matrimonial assets for the reason that if the CPF contributions were not deducted from the wages or salary of a worker, they would have gone to providing for himself and the family. The asset is accumulated by the sole effort of one party to the marriage.Ethel Said:
How much money control the american pension funds today? What ist the value of their assets?We Answered:
its about 23000 billions (try to imagine)David Said:
Why does Daimler want to get rid of union, is all the recent hype really about unions???We Answered:
yeah they are just too powerful to be ignored....Gerald Said:
What is the tax law regarding private company dividend to a superfund in pension phase?We Answered:
That is an interesting one. I have never come across this in my files.An private company dividend can be considered a special income of the fund and therefore taxed at the highest marginal. But as you know, whether a private company dividend is excessive or not, it is self assessed now.
When the fund is already on a pension phase, it is exempted from income tax.
So your question is really - what will happen to special income if received when SF is already on a pension phase?
As far as I know there is no exclusion on what is exempted when a fund is under a pension phase!
I will ask around as well. I like this question.
Add: -
I have now asked the ppl at work. The answer is - s 295-385 (2) of ITAA 97.
For additional reference - s 295-550 ITAA 97, TR 2006/7 point # 142.
Nancy Said:
What is "common" profit on the projects pension funds invest their money?We Answered:
That isn't the way pension funds are run...Most of them are run to earn a risk adjusted rates of return that at least matches the market return and, preferably, minimizes future cash contributions by the sponsoring organization (company, union, state government, etc)
If they are "smart" they are probably aiming for a risk adjusted real rate of return in the 7% neighborhood. That isn't "an interest rate," mind you.
"Goals" can range from the low to mid teens. They tend to fluctuate a lot over time...high in up markets, lower in down markets.
There is some evidence that the average pension fund under-performs the market to the same degree that the average mutual fund does (over 10 year and greater periods).
Dan Said:
Is Divorce Null and Void If One Party Lied About Assets?We Answered:
No, the divorce is still legal and final. The property settlement however can be reopened and a new distribution can be created taking into account the Pension Fund and the fact that he lied about it. You should talk to a lawyer or to legal aid or the family law department of your courthouse to find out how to file to reopen the property award. Do it soon because once you find out about the fund the clock starts ticking on how long you can take to bring it to the court's attention. It might make more sense however, if you know the value of the fund, just to ask the other party to give you 1/2 the value and you can all avoid the expenses of lawyers and court.Good Luck.