Super options now more diverse from age 55
Anyone over 55 can take advantage of new rules on super. It is now possible to use your superannuation to buy an allocated pension, which gives you an income stream. Yet you can keep working, and keep accumulating superannuation contributions (from your employer, and your own). So you can spend your super and save at the same time. Investors still need to keep an eye on the costs, such as the front-end purchase price of an allocated pension and its annual running costs.