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“Absolute agony”: Beauty therapist left housebound from steroid cream withdrawal

<p dir="ltr">Beauty therapist and mother Karyn Flett said she has been “addicted” to steroid creams for over 40 years.</p> <p dir="ltr">In an attempt to ease her painful eczema, Flett revealed she had to wear a balaclava to contain her weeping skin.</p> <p dir="ltr">She began suffering from eczema patches on her face, hands and joints at age 11 and was prescribed topical steroid creams. </p> <p dir="ltr">Flett, 52, has used the medication for decades to soothe her itchy and inflamed skin, but she claims she decided to quit using it after experiencing sweats and rashes similar to menopause symptoms. </p> <p dir="ltr">The mum-of-three, from Fife, Scotland, said she was in “agony” when she went cold turkey and stopped using the medical cream in September 2022.</p> <p dir="ltr">She revealed she went into topical steroid withdrawal and developed a burning rash all over her body and experienced shakes and sweats.</p> <p dir="ltr">Flett was housebound for six months and unable to work due to her condition.</p> <p dir="ltr">She said water felt like acid on her skin and it was so itchy she felt like she could “tear herself to the bone”.</p> <p dir="ltr">The 52-year-old resorted to wearing a balaclava and full upper-body bandages for three months in order to keep her weeping skin from sticking to her pillow and sheets and to ease the pain of the relentless itching. </p> <p dir="ltr">She shared that at 45 she began to worry about one of the risks she knew of steroids - that they thin the skin. </p> <p dir="ltr">“I started thinking, ‘Right, I need to use these less’,” Flett said.</p> <p dir="ltr">“I was going into bouts of withdrawal and getting these severe symptoms, such as shakes and sweats. I had symptoms similar to menopause.</p> <p dir="ltr">“I went away in September and decided not to take my steroid cream, and went into full-blown withdrawal.”</p> <p dir="ltr">Flett explained she had a burning rash from her feet to her entire body. </p> <p dir="ltr">“My face was on fire, it was swollen. My eyes were really hard to open, they were swollen,” she said.</p> <p dir="ltr">”I went off my food, and then I started going into full-blown shakes.</p> <p dir="ltr">“When I travelled home, my clothes stuck to my skin.</p> <p dir="ltr">“I blistered from my calf up to the back of my thigh and I could feel fluid running down my leg.”</p> <p dir="ltr">When she arrived home, her husband had to help her into the shower and she had to rip the clothing off her skin. </p> <p dir="ltr">“When I first got it, I couldn’t bathe all the time, it was just too painful. The water was like acid,” she said.</p> <p dir="ltr">“I’ve always been a mum who likes to do my hair, makeup, get my lashes done, nails and look my best on a night out.</p> <p dir="ltr">“That just left me. You lose all your self confidence, and you don’t know how you ever get back to the person you were.”</p> <p dir="ltr">Flett described the first four to six months of withdrawal as being the worst. </p> <p dir="ltr">“It’s been likened to being worse than a heroin addiction,” she said.</p> <p dir="ltr">“You get a deep, absolute bone itch with topical steroid withdrawal.</p> <p dir="ltr">“It’s absolute agony, you feel like you can tear yourself down to the bone.”</p> <p dir="ltr"><em>Image credit: Facebook</em></p>

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“I have been suffering”: Rafael Nadal withdraws from Wimbledon

<p dir="ltr">Rafael Nadal has officially withdrawn from Wimbledon ahead of his semi-final match against Nick Kyrgios due to an abdominal injury, prompting his Aussie competitor to sail straight into Sunday’s men’s final.</p> <p dir="ltr">Nadal confirmed the news on Friday morning (AEST) after it was reported that he suffered a 7mm abdominal tear during his quarter-final win against Taylor Fritz.</p> <p dir="ltr">“Unfortunately, as you can imagine, if I am here, I have to pull out from the tournament,” he said in a press conference.</p> <p dir="ltr">“As everybody saw yesterday, I had been suffering with pain in the abdominal. I was not OK there, as yesterday I said. That’s confirmed. I have a tear in the muscle in the abdominal.</p> <p dir="ltr">“I was thinking during the whole day about the decision to make. It doesn’t make sense to go (on), even if I try through my career to keep going.</p> <p dir="ltr">“It was very tough circumstances but it is obvious if I keep going the injury will be worse and worse.</p> <p><span id="docs-internal-guid-c490f47c-7fff-766e-5fbd-2f338f74fc5c"></span></p> <p dir="ltr">“That’s the thing I can say now and feel very sad to say that.”</p> <blockquote class="twitter-tweet"> <p dir="ltr" lang="en">We're sad to see it end this way, <a href="https://twitter.com/RafaelNadal?ref_src=twsrc%5Etfw">@RafaelNadal</a></p> <p>Thank you for another year of unforgettable moments at The Championships<a href="https://twitter.com/hashtag/Wimbledon?src=hash&amp;ref_src=twsrc%5Etfw">#Wimbledon</a> <a href="https://t.co/XadiEVxaWF">pic.twitter.com/XadiEVxaWF</a></p> <p>— Wimbledon (@Wimbledon) <a href="https://twitter.com/Wimbledon/status/1545111323926740992?ref_src=twsrc%5Etfw">July 7, 2022</a></p></blockquote> <p dir="ltr">The 36-year-old estimated it would take “three, four weeks” to recover from the injury, though a timeline for his return to competing is unclear according to multiple reports.</p> <p dir="ltr">Though he reiterated that he will continue playing, Nadal said his injury prevented him from playing at his best.</p> <p dir="ltr">“I made the decision because I believe that I can’t win two matches under the circumstances,” he said. “It is not only that I can't serve at the right speed, it is that I can't do the normal movement to serve.</p> <p dir="ltr">“After I say that, to imagine myself winning two matches, and for respect to myself in some way, I don’t want to go out there and not be competitive enough to play at the level I need to play to achieve my goals.”</p> <p dir="ltr">Nadal’s withdrawal has dashed his chances of winning his 23rd grand slam title at this year’s competition, which would have made him tie with Serena Williams on the all-time list for having the most major singles trophies.</p> <p dir="ltr"><span id="docs-internal-guid-b42deb21-7fff-97af-b408-f33804e7e359"></span></p> <p dir="ltr">In response to his opponent’s announcement, Kyrgios took to Instagram to wish Nadal well on his recovery.</p> <blockquote class="instagram-media" style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" data-instgrm-captioned="" data-instgrm-permalink="https://www.instagram.com/p/CfuR8AKhwjP/?utm_source=ig_embed&amp;utm_campaign=loading" data-instgrm-version="14"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"> </div> </div> </div> <div style="padding: 19% 0;"> </div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"> </div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <div style="padding: 12.5% 0;"> </div> <div style="display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;"> <div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);"> </div> <div style="background-color: #f4f4f4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;"> </div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);"> </div> </div> <div style="margin-left: 8px;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"> </div> <div style="width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg);"> </div> </div> <div style="margin-left: auto;"> <div style="width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);"> </div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);"> </div> <div style="width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);"> </div> </div> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"> </div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" href="https://www.instagram.com/p/CfuR8AKhwjP/?utm_source=ig_embed&amp;utm_campaign=loading" target="_blank" rel="noopener">A post shared by Nick Kyrgios (@k1ngkyrg1os)</a></p> </div> </blockquote> <p dir="ltr">“Different players, different personalities @rafaelnadal I hope your recovery goes well and we all hope to see you healthy soon. Till next time,” the Canberran captioned a throwback photo of the pair shaking hands at the net.</p> <p dir="ltr">Kyrgios, who has become the first Australian man to make the Wimbledon singles final since Mark Philippoussis in 2003, will face Novak Djokovic or Cameron Norrie, who are due to play the other semi-final match on Friday.</p> <p dir="ltr"><span id="docs-internal-guid-af46f9d6-7fff-cf64-71d0-657f9bfa8a1a"></span></p> <p dir="ltr"><em>Image: Getty Images</em></p>

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Prince Charles withdraws "financial support" from Prince Harry and Meghan

<div class="post_body_wrapper"> <div class="post_body"> <div class="body_text redactor-styles redactor-in"> <p>Harry and Meghan are being forced to find new arrangements for any mail sent to them after Prince Charles and Clarence House withdrew "financial support" from the couple.</p> <p>The<span> </span><a rel="noopener" href="https://www.telegraph.co.uk/royal-family/2021/02/27/prince-harry-meghan-hunt-new-uk-mail-address-clarence-house/" target="_blank"><em>UK Telegraph</em></a><span> </span>has reported that all professional ties, including the Sussex's mail service in the UK, is being severed by the end of next month.</p> <p>Members of the royal family can receive thousands of letters and cards per month and the Correspondence Section at Clarence House was previously responsible for the Sussex family.</p> <p>Instead, the pair will need to make new arrangements to receive their mail in the US.</p> <p>What is said to have tipped Prince Charles' decision is the new 90-minute documentary that Harry and Meghan are doing with Oprah to discuss why they quit being working royals.</p> <p>The Duke and Duchess of Sussex were stripped of their titles in mid-February after they decided to renounce their duties and step away from public service for good.</p> <p>A statement by Buckingham Palace said at the time they are "saddened by their decision" but said Meghan and Harry "remain much loved members of the family."</p> </div> </div> </div>

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Prince Harry's military colleagues weigh in on the royal withdrawal

<p>Following the announcement to step back as senior members of the royal family, the Duke and Duchess of Sussex have fought an increasing amount of backlash from the media and public who believe the pair are disrespecting the monarchy.</p> <p>However, some of the military members who served alongside Prince Harry have come to his defense in a number of heartfelt, meaningful posts.</p> <p>While there has been mixed reactions from the public to the news of the Duke and Duchess of Sussex intending to step back from their positions as royal members, others have firmly backed the decision and have voiced their support.</p> <p>Former British Special Forces soldier Dean Stott said, "The Duke of Sussex has and will continue to hold the utmost respect from the entire military community for his service both in Uniform and out. Say what you want about the current situation but I defy anyone to say this man does not deserve the full respect awarded to a soldier."</p> <blockquote class="twitter-tweet" data-lang="en"> <p dir="ltr">The Duke of Sussex has and will continue to hold the utmost respect from the entire military community for his service both in Uniform and out.<br />Say what you want about the current situation but I defy anyone to say this man does not deserve the full respect awarded to a soldier. <a href="https://t.co/Y1K8eWU8AY">pic.twitter.com/Y1K8eWU8AY</a></p> — Dean Stott (@DeanStottSBS) <a href="https://twitter.com/DeanStottSBS/status/1216812009058131974?ref_src=twsrc%5Etfw">January 13, 2020</a></blockquote> <p>Another veteran shared a photograph of him with the duke, writing, "I personally served with Harry in Afghan 2012/13 and think hes a top bloke, hes done amazing things with the INVICTUS games, supporting wounded and injured soldiers so we need to do the same for him. Get behind him when he needs our country and back him in whatever he chooses."</p> <blockquote class="twitter-tweet" data-lang="en"> <p dir="ltr">I personally served with Harry in Afghan 2012/13 and think hes a top bloke, hes done amazing things with the INVICTUS games, supporting wounded and injured soldiers so we need to do the same for him. Get behind him when he needs our country and back him in whatever he chooses. <a href="https://t.co/rOgP7E9DQ2">pic.twitter.com/rOgP7E9DQ2</a></p> — Father of an Angel (@M4MHA) <a href="https://twitter.com/M4MHA/status/1216781400868892672?ref_src=twsrc%5Etfw">January 13, 2020</a></blockquote> <p>Ex-soldier David Wiseman, who competed in the Invictus games in 2016, and launched the games in 2014 alongside Prince Harry shared his own message.</p> <p>"Prince Harry has served this country in &amp; out of uniform," he wrote.</p> <p>"Operated in AFG on the ground &amp; in the air. Been a champion of the Armed Forces Community for many years. His work has supported thousands &amp; inspired millions. Please remember this when commenting on duty. </p> <blockquote class="twitter-tweet" data-lang="en"> <p dir="ltr">Prince Harry has served this country in &amp; out of uniform. Operated in AFG on the ground &amp; in the air. Been a champion of the Armed Forces Community for many years. His work has supported thousands &amp; inspired millions. Please remember this when commenting on duty. <a href="https://twitter.com/hashtag/PrinceHarry?src=hash&amp;ref_src=twsrc%5Etfw">#PrinceHarry</a> <a href="https://t.co/24NpU4NDa4">pic.twitter.com/24NpU4NDa4</a></p> — David Wiseman (@wiseshow) <a href="https://twitter.com/wiseshow/status/1216774856257212416?ref_src=twsrc%5Etfw">January 13, 2020</a></blockquote> <p>Former Royal Marines commando JJ Chalmers took to Twitter to pinpoint the Duke’s mental health awareness.</p> <p>"<a rel="noopener noreferrer" href="https://twitter.com/hashtag/PrinceHarry?src=hashtag_click" target="_blank">#PrinceHarry</a> served long before he was in uniform," Chalmers wrote.</p> <p>"And since, few have done more to champion the <a rel="noopener noreferrer" href="https://twitter.com/hashtag/ArmedForces?src=hashtag_click" target="_blank">#ArmedForces</a> Community or have done more to progress the open discussion of <a rel="noopener noreferrer" href="https://twitter.com/hashtag/MentalHealth?src=hashtag_click" target="_blank">#MentalHealth</a>. I’m greatful for his service and won’t forget what he’s done for me &amp; thousands of others."</p> <blockquote class="twitter-tweet" data-lang="en"> <p dir="ltr"><a href="https://twitter.com/hashtag/PrinceHarry?src=hash&amp;ref_src=twsrc%5Etfw">#PrinceHarry</a> served long before he was in uniform.<br /><br />And since, few have done more to champion the <a href="https://twitter.com/hashtag/ArmedForces?src=hash&amp;ref_src=twsrc%5Etfw">#ArmedForces</a> Community or have done more to progress the open discussion of <a href="https://twitter.com/hashtag/MentalHealth?src=hash&amp;ref_src=twsrc%5Etfw">#MentalHealth</a>.<br /><br />I’m greatful for his service and won’t forget what he’s done for me &amp; thousands of others. <a href="https://t.co/h9SKeaXy1y">pic.twitter.com/h9SKeaXy1y</a></p> — JJ Chalmers (@JJChalmersRM) <a href="https://twitter.com/JJChalmersRM/status/1217011345754918913?ref_src=twsrc%5Etfw">January 14, 2020</a></blockquote> <p>Veteran Micky Yule made a few cheeky statements about the Prince, but ultimately shared his own words in support.</p> <blockquote class="twitter-tweet" data-lang="en"> <p dir="ltr">He might have skinny arms 😋 but the Boss is a top lad. I’ll always have the upmost respect for him. Let people get on with there life’s. <a href="https://twitter.com/hashtag/PrinceHarry?src=hash&amp;ref_src=twsrc%5Etfw">#PrinceHarry</a> and once you’ve done 2 tours of Afghan come back to me 👊🏼🖤 <a href="https://t.co/cfnl4t0BZd">pic.twitter.com/cfnl4t0BZd</a></p> — Micky Yule (@MickyYule9) <a href="https://twitter.com/MickyYule9/status/1216823446887370753?ref_src=twsrc%5Etfw">January 13, 2020</a></blockquote> <p>"He might have skinny arms," he wrote, "but the Boss is a top lad. I'll always have the upmost respect for him. Let people get on with there life's. <a rel="noopener noreferrer" href="https://twitter.com/hashtag/PrinceHarry?src=hashtag_click" target="_blank">#PrinceHarry</a> and once you've done 2 tours of Afghan come back to me."</p>

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Prince William expresses pain over Prince Harry's royal withdrawal

<p>Prince William has told a close friend he can’t wrap “his arm around” his only brother, Prince Harry, anymore after he and his wife, Duchess Meghan, announced they would be stepping down as senior royals.</p> <p>The Duke of Cambridge revealed his pain and “sadness” over the tense relationship that had developed with his younger brother and the split of the Royal Family.</p> <blockquote style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/B7PF1AgDZh8/?utm_source=ig_embed&amp;utm_campaign=loading" data-instgrm-version="12"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"></div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"></div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"></div> </div> </div> <div style="padding: 19% 0;"></div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"></div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" rel="noopener" href="https://www.instagram.com/p/B7PF1AgDZh8/?utm_source=ig_embed&amp;utm_campaign=loading" target="_blank">A post shared by Just Jared (@justjared)</a> on Jan 12, 2020 at 2:08pm PST</p> </div> </blockquote> <p>Just days after Prince Harry and Duchess Meghan announced to the world they would be stepping down as senior royals and would be spending majority of their time overseas, Prince William admitted his grief over the breakdown of his relationship with Harry.</p> <p>The news reportedly left Buckingham Palace in shock, as the Queen, Prince Charles and Prince William, 37, were given a little over 10 minutes notice before the decision was released to the world.</p> <p><a rel="noopener noreferrer" href="https://www.theguardian.com/uk-news/2020/jan/12/prince-william-harry-and-i-are-now-separate-entities" target="_blank">The Sunday Times </a>reports the Duke of Cambridge said he hoped that one day everyone will “play on the team” again.</p> <p>He said: “I’ve put my arm around my brother all our lives and I can’t do that anymore; we’re separate entities. I’m sad about that.</p> <p>“All we can do, and all I can do, is try and support them and hope that the time comes when we’re all singing from the same page.”</p> <blockquote style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/B7MiuoZndbl/?utm_source=ig_embed&amp;utm_campaign=loading" data-instgrm-version="12"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"></div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"></div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"></div> </div> </div> <div style="padding: 19% 0;"></div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"></div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" rel="noopener" href="https://www.instagram.com/p/B7MiuoZndbl/?utm_source=ig_embed&amp;utm_campaign=loading" target="_blank">A post shared by Meghan &amp; Harry News (@meghan_harry_news)</a> on Jan 11, 2020 at 2:22pm PST</p> </div> </blockquote> <p>The Queen has reportedly ordered Prince Charles, William and Harry to a historical summit at Sandringham on Monday to discuss the future of the Royal Family.</p> <p>The Queen’s former press secretary Dickie Arbiter said: “This is a landmark meeting which is ­absolutely unprecedented.”</p> <p>A Palace source also confirmed they will also discuss the “next steps” for the monarchy.</p> <p>An announcement is due to be released within the next few days.</p> <p>They said: “The family will gather on Monday at Sandringham to talk things through.</p> <p>“Attendees will be Her Majesty, the Prince of Wales, the Duke of Cambridge and the Duke of Sussex.</p> <p>“Following a series of meetings and consultations across the last few days, there are a range of possibilities for the family to review which take into account the thinking the Sussexes outlined earlier in the week.</p> <p>“Making a change to the working lives and the role in the monarchy for the Duke and Duchess of Sussex will require both complex and thoughtful discussions.</p> <p>“Next steps will be agreed at the meeting and the request for this to be resolved at pace is still Her Majesty’s wish.</p> <p>“The aim remains to have it resolved in days not weeks. There are a range of possibilities to review.”</p> <p>The Duke and Duchess of Sussex said they will work to become “financially independent” as they “carve out a progressive new role” but will still continue to support the Queen.</p> <blockquote style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" class="instagram-media" data-instgrm-captioned="" data-instgrm-permalink="https://www.instagram.com/p/B7EaGS_Jpb9/?utm_source=ig_embed&amp;utm_campaign=loading" data-instgrm-version="12"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"></div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"></div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"></div> </div> </div> <div style="padding: 19% 0;"></div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"></div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <p style="margin: 8px 0 0 0; padding: 0 4px;"><a style="color: #000; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none; word-wrap: break-word;" rel="noopener" href="https://www.instagram.com/p/B7EaGS_Jpb9/?utm_source=ig_embed&amp;utm_campaign=loading" target="_blank">“After many months of reflection and internal discussions, we have chosen to make a transition this year in starting to carve out a progressive new role within this institution. We intend to step back as ‘senior’ members of the Royal Family and work to become financially independent, while continuing to fully support Her Majesty The Queen. It is with your encouragement, particularly over the last few years, that we feel prepared to make this adjustment. We now plan to balance our time between the United Kingdom and North America, continuing to honour our duty to The Queen, the Commonwealth, and our patronages. This geographic balance will enable us to raise our son with an appreciation for the royal tradition into which he was born, while also providing our family with the space to focus on the next chapter, including the launch of our new charitable entity. We look forward to sharing the full details of this exciting next step in due course, as we continue to collaborate with Her Majesty The Queen, The Prince of Wales, The Duke of Cambridge and all relevant parties. Until then, please accept our deepest thanks for your continued support.” - The Duke and Duchess of Sussex For more information, please visit sussexroyal.com (link in bio) Image © PA</a></p> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;">A post shared by <a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px;" rel="noopener" href="https://www.instagram.com/sussexroyal/?utm_source=ig_embed&amp;utm_campaign=loading" target="_blank"> The Duke and Duchess of Sussex</a> (@sussexroyal) on Jan 8, 2020 at 10:33am PST</p> </div> </blockquote> <p>They reportedly told close friends they want to spend some of the next two months working out of Canada after a six-week trial holiday over Christmas and New Year was deemed highly successful.</p> <p>The Duchess of Sussex, 38, flew to Britain on Monday after the couple spent six weeks away over Christmas.</p> <p>However, she quickly returned to Vancouver Island, Canada and it is believed Prince Harry may re-join with his wife as early as next week.</p>

News

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Accessing your super: Ways to withdraw your super benefits

<p><span>After years of hard work, you may want to finally claim your super. But how does one go about accessing these funds? Below is a guide to superannuation, including the legal ways to get yours early.</span></p> <p><strong><span>When can you access your super?</span></strong></p> <p><span>In most cases, supers are only accessible when you have reached your “preservation age” and are retired. </span></p> <p><span>The preservation age, which is set by the law, ranges from 55 to 60 years depending on your birth date. For example, those born before July 1960 have a preservation age of 55 years. Meanwhile, the preservation age for people born after June 1964 is 60 years.</span></p> <p><span>Once you have reached the eligible age and retired permanently, you can withdraw your super in full or as the rules of your fund allow. If you prefer to reduce your working hours gradually, you can also use the “transition to retirement” strategy to transfer some of your super to a pension account.</span></p> <p><span>If you are 65 or older, you can access your super without retiring.</span></p> <p><span>Need to get the super before preservation age? According to the <a href="https://www.ato.gov.au/Individuals/Super/">Australian Taxation Office</a> (ATO), there are a few scenarios that allow for early access to super: financial hardship, compassionate grounds, terminal medical condition and incapacity.</span></p> <p><span>With financial hardship, you are permitted to withdraw up to $10,000 of your super benefit. Keep in mind that you are only eligible for this if you have received government income support payments continuously for 26 weeks and are unable to meet reasonable and immediate family living expenses.</span></p> <p><span>You can also access your super early on compassionate grounds – that is, if you have difficulties paying for expenses related to medical treatments, housing, special needs or death and funeral. However, the ATO will generally only approve the release of the amount needed to pay the expense in question. </span></p> <p><span>Requests for early access on the grounds of terminal condition or permanent incapacity generally have to be complemented with a certification from at least two medical professionals that vouches for the seriousness of your physical or mental condition. </span><span>The request should be directed to your fund. If you have any ATO-held super accounts, you can claim them directly from the agency.</span></p> <p><strong><span>How can you access your super?</span></strong></p> <p><span>You can access your super as an income stream or a lump sum, depending on what your super fund allows.</span></p> <p><span>An income stream, also known as pension, is a series of regular payments (e.g. $800 fortnightly). Many Aussies find this option more convenient for managing income and spending.</span></p> <p><span>On the other hand, you can also take all your super in a single payment or withdraw as needed through several lump sums. Keep in mind that once you take your super as a lump sum, the money will no longer be considered as super, and any investment returns you make with the money will be taxable.</span></p> <p><span>Another option is to combine lump sum and pension – that is, to withdraw some cash and convert the rest into an income stream.</span></p> <p><span>Talk to your super fund or seek professional advice to discuss the best way to access your super.</span></p> <p><span>Have you accessed your super? Let us know in the comments. </span></p>

Retirement Income

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What you need to know about withdrawals from a super pension account

<p>With life expectancy longer than ever, people are increasingly encouraged to access their superannuation in pension mode rather than lump-sum withdrawals to help ensure it will last through their retirement years. However, those setting up a pension must ensure they comply with the withdrawal obligations each year.</p> <p>Australians have one of the highest life expectancies in the world. Recent research by Accurium, a provider of actuarial certificates for Self Managed Super Funds (SMSFs), in a paper called ‘SMSF Trustees – healthier, wealthier and living longer’, estimates the average life expectancy of a 65-year-old male SMSF trustee is 90 and for a female 92. This is about three years longer than for the average Australian (3.0 years longer for men, 2.4 years longer for women) because SMSF trustees are usually wealthier and have the resources to pay for good health care.</p> <p>In fact, it will become common for Australians to live to 100 and beyond, because:</p> <ul> <li>The life expectancy estimates are averages and there will be significant individual variations</li> <li>There is a consistent trend of people living longer than expected.</li> </ul> <p>With such long lives, retirees need to balance their need for income with ensuring their money does not run out. There are some specific circumstances where superannuation can be accessed early, but generally the ‘conditions of release’ when aged between 60 to 64 years require ceasing employment, with full access on reaching 65. If you have reached ‘preservation age’ (at least 55 if born before July 1960, or from 56 to 60 if born later) and have met withdrawal conditions, you can establish a transition to retirement (TTR) superannuation-based pension. You should ensure you understand the legal requirements and tax implications, some of which will change on 1 July 2017. Pension calculations are tied to the financial, not calendar, year.</p> <p><strong>Starting an account-based pension</strong><br />To start an account-based pension, you need to transfer a lump sum from your accumulation account to a pension account. Limits apply to the amount you can transfer. The so-called transfer balance cap will begin at $1.6 million and will increase in line with the consumer price index. Once you have used your entire cap, you can’t top it up.</p> <p>In addition, minimum withdrawal amounts apply to account-based pensions and are set each year based on your age and account balance on 1 July.</p> <p>If you are between preservation age and 65 and still working, the maximum you can withdraw is 10% of your pension account balance each financial year. You cannot withdraw money as a lump sum.</p> <p>However, on reaching the age of 65, you can withdraw all your money from superannuation under the current rules, even if you have not retired. This obviously depletes the money you have to live on for the rest of your life and should be done with great caution.</p> <p>Pension payments can be taken monthly, quarterly, half-yearly or annually, provided there is sufficient balance to cover the pension. You can transfer funds back to your accumulation account at any time.</p> <p><strong>Advantages of account-based pensions over accumulation funds</strong><br />From the age of 60, your pension payments become tax-free. Between the ages of 55 and 60 using a TTR pension, tax will be applied on the pension payment at your marginal rate less a 15% tax offset.</p> <p>TTR pensions have been popular with Australians since their introduction in 2004. They have enabled working people under retirement age to reduce their work hours as a way to ease into retirement, with the TTR pension from the super fund supplementing employment income.</p> <p>However, from 1 July 2017, earnings on TTR pension accounts will be subject to a 15% earnings tax. This legislation is retrospective, meaning that even accounts started before that date will also be subject to the ruling.</p> <p>People should discuss their TTR account with a financial planner before July 1 to assess its continued viability. In some cases, cancelling the TTR account and returning to an accumulation fund could be the best option.</p> <p><strong>Does an account-based pension affect the age pension?</strong><br />Eligibility for the age pension depends on Centrelink’s assets test rules, which include assessment of your entire account-based pension balance. Income from your account-based pension is also fully assessed, unless you began your account-based pension before January 1, 2015, in which case only part of that amount will be included in the eligibility test.</p> <p>Talk to your financial adviser or Centrelink to discuss how the account-based pension income might affect your eligibility for the age pension.</p> <p><strong>Conclusion</strong><br />Retirement savings are not guaranteed to last for life, as factors such as withdrawal amounts, investment returns and future legislative changes could affect balances. As with all major decisions concerning a retirement nest-egg, it is wise to consult an independent financial planner for advice.</p> <p>Because the changes to account-based and transition-to-retirement pensions are now only a few months away, Australians in or nearing retirement should review their arrangements soon rather than leaving it until it might be too late to head off penalties for non-compliance.</p> <p>Further information is available at <a href="https://www.moneysmart.gov.au/superannuation-and-retirement/income-sources-in-retirement/income-from-super/account-based-pensions">MoneySmart</a> or directly from the <a href="https://www.ato.gov.au/super/self-managed-super-funds/paying-benefits/lump-sum-and-income-stream-(pension)/income-stream-(pension)/">ATO</a> web site.</p> <p><em>Written by Lee Anthony. Republished with permission of<a href="https://www.wyza.com.au/articles/money/superannuation/withdrawals-from-a-super-pension-account.aspx"> Wyza.com.au.</a></em></p>

Legal

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The science behind caffeine withdrawals

<p>Caffeine is our favourite drug. But if we miss out on our fix, it can be a real headache, in more ways than one.</p> <p>Caffeine is a stimulant. It quickly enters our brain and blocks the (adenosine) receptors that are responsible for dulling brain activity. By blocking the dulling of our brain, we feel a sense of invigoration, focus and subtle euphoria. These feelings can also enhance our performance of certain focused tasks, like driving or staying awake through the whole lecture.</p> <p>This is the upside of caffeine. The downside is how we feel when we are not getting our usual dose. Because of the anticipated highs of brain activity after our cup, the lows without it seem longer and deeper.</p> <p>The other problem is that caffeine is addictive. When we aren’t getting what we’re used to, we can feel tired, inattentive, irritable and moody. This is known as <a href="https://www.ncbi.nlm.nih.gov/pubmed/18625110">withdrawal</a>. Many people regularly drink caffeinated beverages just to avoid feeling this way.</p> <p>By far the most common symptom of caffeine withdrawal is headaches. These are typically mild and short-lived, usually only lasting for a day or two, although they can sometimes last for up to week. They usually feel a bit like a tense band wrapped across your head and are sometimes called <a href="http://headacheaustralia.org.au/headachetypes/tension-type-headache/">tension-type headaches</a> as a result. However, caffeine withdrawal can also trigger a full-on <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4975726/">migraine</a> in some sufferers.</p> <p>Why we get headaches with withdrawal (as well as many other causes) is mostly because our face and head is the most active as well as the most sensitive part of our body. For our brain to accurately know what’s happening, the signals it receives from the senses have to be spot on.</p> <p>Any distortion of the signal and the message can become lost in translation, or even result in the wrong message being received. One theory for headaches is our fuzzy brain misinterprets some of the innocuous signals it gets from our head, and calls them a headache.</p> <p>Some level of caffeine withdrawal <a href="https://www.ncbi.nlm.nih.gov/pubmed?term=15448977">would be experienced by maybe half</a> of all regular tea or coffee drinkers, if their regular drug supply would be completely cut off. The more we drink and the more regularly we drink caffeine, the more likely we’d experience withdrawal symptoms if we were to go without.</p> <p>However, withdrawal can happen even in people who usually drink just a single cup every day who then forego caffeine. Equally, only <a href="http://jpet.aspetjournals.org/content/289/1/285.long">three days</a> of continuous coffee drinking is enough to make you feel bad when the coffee runs out.</p> <p>Caffeine withdrawal only occurs with abstinence. Small amounts of caffeine (just a quarter of a cup) will keep the headaches at bay. Even if the espresso machine is broken and you have to have a (half-less caffeinated) latte, you won’t go into withdrawal.</p> <p>But if you’re going cold turkey, withdrawal headaches typically peak <a href="http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.395.79&amp;rep=rep1&amp;type=pdf">a day or two</a> after removing all caffeine from the menu. Withdrawal does not happen within a few hours of the last cup, despite the protestation of the habitual coffee drinker.</p> <p>Of course, if withdrawal is really the problem, the remedy is simple. Any headache caused by lack of caffeine is rapidly and often completely <a href="http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.395.79&amp;rep=rep1&amp;type=pdf">relieved</a> within 30 minutes to an hour of drinking a cup of tea or coffee.</p> <p>Some of this is the fix and the anticipation of it. In fact, Australian <a href="https://www.ncbi.nlm.nih.gov/pubmed/26933153">researchers</a> have found giving someone experiencing caffeine withdrawal a de-caf, but telling them it’s caffeinated, is enough to make them feel better. Of course this trick won’t work if you buy the coffee yourself.</p> <p>Surprisingly though, caffeine also has some painkiller properties. Simple pain-killers such as non-steroidal anti-inflammatories, aspirin or paracetamol <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5655397/">can be more effective</a> when formulated with some caffeine (in each dose about two to three times that in a regular cup of coffee).</p> <p>For <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5018099/#A33193R29">hypnic “alarm clock” headaches</a> that wake sufferers at night, hangover-headaches and some migraine-sufferers, a cup of tea or coffee can be an effective pain-killer on its own.</p> <p>This analgesia is not just because we feel less stressed or less distracted by pain after a cup of tea or coffee. It turns out the <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5366829">same adenosine receptors</a> blocked by caffeine are also implicated in the origin of headache as well as other kinds of pain.</p> <p>More than 90% of all adults drink coffee or tea, rousing us from our slumber and providing the revitalising energy to do the things that need to be done. It’s not hard to imagine the headaches without it.</p> <p><em>Written by Merlin Thomas. Republished with permission of <a href="https://theconversation.com/"><span style="text-decoration: underline;"><strong>The Conversation</strong></span></a>.</em></p>

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Major bank’s customers unable to withdraw their money

<p>Nothing makes your heart sink like not being able to withdraw money from an ATM when you know there’s cash in your account, and customers at one of Australia’s major banks got to experience this feeling firsthand on Thursday after a major malfunction.</p> <p>The technical glitch affected EFTPOS services as well as phone and internet banking platforms and saw customers unable to withdraw amounts greater than $200.</p> <p>Social media was awash with complains from ANZ customers who were unable to withdraw their cash, who grew increasingly desperate with each extra attempt.</p> <blockquote class="twitter-tweet"> <p dir="ltr">Can't pay my rent. This is so embarassing! <a href="https://twitter.com/ANZ_AU?ref_src=twsrc%5Etfw">@ANZ_AU</a></p> — Abby Bailey (@abbyjaynebailey) <a href="https://twitter.com/abbyjaynebailey/status/976659569500762112?ref_src=twsrc%5Etfw">March 22, 2018</a></blockquote> <p>Some customers reported seeing the following message when using the bank’s goMoney app:</p> <p>"ANZ Internet Banking, Phone Banking, Grow by ANZ, goMoney and ANZ App is currently under maintenance and expected to be available by 06:00am Sun 18th March (AEDT). Thanks for your patience.”</p> <blockquote class="twitter-tweet"> <p dir="ltr">Yeah, okay. Seems like the issue is going to take 3 days to fix <a href="https://t.co/o4h0fhjplG">pic.twitter.com/o4h0fhjplG</a></p> — Nikki Brown (@BrownNikki) <a href="https://twitter.com/BrownNikki/status/976641006970875904?ref_src=twsrc%5Etfw">March 22, 2018</a></blockquote> <p>ANZ acknowledged the error in a statement to the press and said the bank was addressing it as a “top priority” by a “team of experts”.</p> <p>"We discovered a technical fault affecting some of our systems, including internet banking, goMoney and the ANZ app late this morning," he <a href="http://www.abc.net.au/" target="_blank"><span style="text-decoration: underline;"><em><strong>told the ABC</strong></em></span></a>.</p> <p>The bank has since confirmed services have been restored across all platforms, but has asked customers to be patient while the network’s systems recover.</p> <p>Are you a customer of this bank and has it affected you?</p>

Money & Banking

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The massive catch behind banks removing ATM withdrawal fees

<p>Consumer group Choice has revealed the massive catch behind banks removing their ATM withdrawal fees after the big four’s surprise announcement this week.</p> <p>Commonwealth Bank made headlines on Sunday when it announced that it would be abolishing additional ATM withdrawal fees for customers from other banks, with NAB, ANZ and Westpac quickly following suit. </p> <p>But as Choice points out below, it would be a mistake to think that the big four banks have completely abandoned the idea of <a href="http://www.oversixty.com.au/travel/travel-tips/2017/08/travellers-warned-about-currency-conversion-swindle/" target="_blank"><span style="text-decoration: underline;"><strong>slugging customers with extra fees</strong></span></a>. </p> <blockquote class="twitter-tweet"> <p dir="ltr">.<a href="https://twitter.com/Bankwest">@Bankwest</a> still charges you $2.50 to use their ATMs if you’re not customer.<br />Tell them you want an end to ATM fees: <a href="https://t.co/qfy9aupRVY">https://t.co/qfy9aupRVY</a> <a href="https://t.co/URHNqQzr9b">pic.twitter.com/URHNqQzr9b</a></p> — CHOICE (@choiceaustralia) <a href="https://twitter.com/choiceaustralia/status/912180052791406592">September 25, 2017</a></blockquote> <p>While additional charges for non-customer ATM withdrawals have been abolished at 3,400 CommBank machines, 2,300 ANZ machines, 2,925 Westpac machines and 1,300 NAB machines across the country, Commbank subsidiary Bankwest will retain the charges. In addition, 3,100 NAB-branded rediATMs located at pubs, clubs and stores around the country will continue to charge extra fees for non-customers.</p> <p>That said, the bank’s decision has still been widely applauded, although consumers have been warned to be wary and check if other fees have been increased.</p> <p>Australian Bankers’ Association chief Anna Bligh told <a href="http://www.skynews.com.au/" target="_blank"><span style="text-decoration: underline;"><em><strong>Sky News</strong></em></span></a>, “Customers can look at their own statements and see whether any other fees have been increased. But banks have made it clear that that’s not what they’re going to do, that they will take this as a cost of keeping their customers, and getting the best opportunity to win more customers.”</p> <p>What are your thoughts?</p>

Money & Banking

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Lleyton Hewitt withdraws from Rio Olympics

<p>The Australian Olympic team has been dealt a massive blow after both tennis coach Lleyton Hewitt and cyclist Simon Gerrans announced they would not be participating in the games.</p> <p>Former world number one and three-time Olympian, Hewitt has bowed out of his role as men’s tennis coach at Rio due to “personal reasons”. The announcement comes just months after medal hopefuls Nick Kyrgios and Bernard Tomic revealed they would not be attending.</p> <p>Now, Australia’s hopes of gold in the tennis events are placed upon the small team of Thanasi Kokkinakis, John Millman, John Peers and Chris Guccione.</p> <p>Our chances of gold in cycling have also been damaged, with star rider Simon Gerrans being forced to withdraw due to sustaining a broken collarbone during the Tour de France.</p> <p>“Following my crash in stage 12 of the Tour de France resulting in a broken clavicle, with enormous regret I would like to inform you of my decision to withdraw from the Australian team for the Rio Olympic Games,” the 36-year-old said in a statement. “For Australia to have the best chance to achieve the best result possible, I feel I should be replaced by one of the riders in the squad.”</p> <p>While the cycling team has not yet been finalised, Richie Porte and Rohan Dennis will certainly do their best to make up for Gerrans’ loss.</p> <p><strong>Related links:</strong></p> <p><a href="/news/news/2016/06/zika-vaccine-tests-a-major-success/"><em><span style="text-decoration: underline;"><strong>Zika vaccine tests a major success</strong></span></em></a></p> <p><a href="/entertainment/movies/2016/06/7-best-sports-films-of-all-time/"><span style="text-decoration: underline;"><em><strong>7 best sports films of all time</strong></em></span></a></p> <p><a href="/travel/travel-tips/2016/05/experts-warn-postpone-or-move-rio-olympics-to-prevent-zika-catastrophe/"><span style="text-decoration: underline;"><em><strong>Postpone or move Rio Olympics to prevent Zika catastrophe, warn experts</strong></em></span></a></p>

News

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Is it a bad idea to withdraw all of your super at once?

<p>After pouring a lifetime of savings into your super, the temptation to withdraw as much as you can, as soon as you can be an enticing one. And many Australians are ceding to this temptation.</p> <p>Figures from the Australian Prudential and Regulation Authority (APRA) show that in the 2014/15 financial year $31.4 billion of super was withdraw in lump sums, as opposed to $29.5 billion withdrawn as pension payments.</p> <p>While it certainly would be nice to access a significant amount of cast in a lump sum to handle payments such as mortgages, investments and holidays, Australians (particularly those with larger balances) have been warned that doing so can potentially be a bad financial move.</p> <p>As <strong><a href="http://www.equipsuper.com.au/articles/An-income-for-life-approach-to-super" target="_blank"><span style="text-decoration: underline;">Equip Super</span></a></strong> notes, the traditional gold watch and lump sum superannuation payment-approach to retirement is becoming increasingly outdating, particularly nowadays when, “Chances are very good that you’ll live longer, be more active, and expect more from your lifestyle.”</p> <p>In retirement prudent money management is essential, and if you’ve received all your super in one huge lump sum that can be quite difficult, particularly after years and years of working and becoming accustomed to meeting your expenses with a regular, reliable income.</p> <p>Justin Sadler, Equip Super’s head of member relationships, elaborates on the value of regular pension payments <strong><a href="https://vimeo.com/149081820" target="_blank"><span style="text-decoration: underline;">in this video interview with Kim Watkins</span></a></strong>, “It’s better to keep your money inside super. And one of the examples of that is that if you’re over 60 and you’ve got your income coming out of super then its tax free so it sort of makes sense that members keep their funds within the super environment as opposed to taking a lump sum and then exiting the super environment.”</p> <p>That being said, withdrawing your super in one massive fund could potentially be beneficial if you’re looking to pay off your mortgage. The Australian Institute of Superannuation Trustees’ chief Tom Garcia said there’s many things to consider before withdrawing funds at once, “There are still a lot of retirees with small balances, for whom taking a lump sum may be the optimal choice. Many retirees with small balances take a lump sum but use it pay off the mortgage or invest in a term deposit. In weighing up taking a lump sum versus an income stream you need to consider a range factors, including the size of your super balance, any investments or debts outside super and tax incentives.’’</p> <p><em><strong><a href="http://www.equipsuper.com.au/" target="_blank"><span style="text-decoration: underline;">Equip</span></a> manages $7 billion of investments for members working across a wide range of Australian industry sectors. This <span style="text-decoration: underline;"><a href="http://www.equipsuper.com.au/" target="_blank">superannuation fund</a> </span>has been providing strong investment performance and has been a reliable provider of retirement benefits for over 80 years.</strong></em></p> <p><em><strong>Equip has also produced an informative blog post explaining the benefits of “An income for life approach to super”. To access that blog, <a href="http://www.equipsuper.com.au/articles/An-income-for-life-approach-to-super"><span style="text-decoration: underline;">click here</span>.</a> </strong></em></p> <p><strong>Related links:</strong></p> <p><span style="text-decoration: underline;"><em><strong><a href="/finance/retirement-income/2015/12/divestment-and-ethical-investing/">What is divestment, and how does it affect you?</a></strong></em></span></p> <p><span style="text-decoration: underline;"><em><strong><a href="/finance/retirement-income/2015/11/building-a-financial-safety-net/">5 step guide for building a financial safety net</a></strong></em></span></p> <p><span style="text-decoration: underline;"><em><strong><a href="/finance/retirement-income/2015/11/australian-attitude-could-be-bad-for-super/%20%20%20">Laid-back attitude could be bad for superannuation</a></strong></em></span></p> <p> </p>

Retirement Income

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Are you ready for PIN-only purchases?

<p>Do you know the personal identification number (PIN) on your credit card? If not, you’ll need to memorise it before August 1, when credit cards say goodbye to signatures.</p><p>The final countdown has begun on the use of signatures when making a purchase with your credit card. Signing your name will be a thing of the past come August 1 when financial merchants around Australia will require a PIN number.</p><p>It’s a move major banks say is faster, more convenient and more secure than a signature. Plus, when you travel overseas, some retailers already require a PIN number as authorisation for purchases.</p><p>The Industry Security Initiative – a collective of Australia’s major financial institutions and card companies – says it’s an industry-wide move focused on expanding PIN numbers as payment authorisation at the point of sale and to phase out the signature on both credit and debit cards.</p><p>The phasing out period will have a short transition timeframe from the beginning of August. After this, you’ll need to enter a PIN when making a purchase.</p><p><strong>A safer way to pay</strong><br>The initiative hopes to make Australia’s payment system safer. According to the Industry Security Initiative and its PINwise resource, there is only a one in 10,000 chance of someone guessing your PIN number, making this method a safer way to purchase items.</p><p>When using a PIN rather than signing, the transaction is encrypted and sent in real-time to your bank to be authorised. Also, using your PIN can help protect against fraud due to lost or stolen cards, because someone looking to use your card would need both the card and your PIN to make a purchase.</p><p>The country’s 800,000 merchant payment terminals will undergo a software update to no longer accept a person’s signature as a main form of card authorisation. There will be no change to contactless or online transactions, and only in some circumstances will a signature still be a valid form of verification. For example, when using a card issued by an overseas bank.</p><p><strong>What’s my PIN?</strong><br>If you’re unsure of what your PIN is, check with your bank. They’ll be able to provide you with a PIN for your debit or credit card. If you’ve had your credit card for a long time and have forgotten what the PIN number attached to it is, just give your bank a call or go into a branch and they’ll be able to reissue you with another number. The bank can issue your PIN over the internet, by phone or via mail.</p><p>You’ll need to remember the PIN for each of your debit and credit cards, so it’s a good idea to start trying to memorise your numbers now. However, if you’re having trouble remembering your PIN, you can change it to a four or six digit number that you’ll find easier to remember. Give your bank a call to ask about the process of changing your PIN. Head to <a href="http://www.pinwise.com.au" target="_blank">www.pinwise.com.au</a> for more information.</p>

Money & Banking

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Are cardless cash withdrawals the future?

<p>If you’ve ever lost or forgotten your bank card at the supermarket checkout, then this will be exciting news. Going cardless to withdraw money at the ATM just became a reality.</p><p>It’s happened to the best of us. You go to pay for something at the supermarket or in the newsagent, and your bank card is not in your wallet. According to a recent report, 45 per cent of people have gone through this exact scenario.</p><p>The Westpac Emergency Cash report found that nearly two million ATM cards are reported lost or stolen each year – that’s enough to cover the length of more than 850 football fields. It also found that more than half of Australians feel lost without their ATM card, which isn’t surprising given how many people go cashless in today’s electronic world.</p><p>It’s for these reasons, and to make it easier on someone who does lose their card or reports it stolen, that Westpac will launch Emergency Cash. This initiative will help people cancel their cards if needed and access their cash with a phone call.</p><p>With the report showing that 62 per cent of Australians call their bank as soon as they realise their wallet is lost, Westpac said when a person phones into its call centre staff will issue them with a unique code. This will enable a person to withdraw their cash from eligible accounts at the nearest Westpac ATM.</p><p>David Lindberg, chief product officer at Westpac, says the bank’s Emergency Cash will help its customers get cash when they need it the most, especially given most people at some stage have been in situations where they’ve been without their wallet.</p><p>“Whatever your cash emergency is – whether you’ve lost your wallet, it’s been stolen or you’ve simply left it at home – it can be solved by a quick phone call any time of the day or night, to receive a cash code to get your cash,” he explains.</p><p>The initiative will allow people to make up to three cardless withdrawals a day to the value of $1000, with a total withdrawal limit of $2000 per week.</p><p>To ensure security, people will need to identify themselves through a series of questions prior to being issued a unique six-digit cash code, which will expire within three hours or immediately after it has been used.</p><p>Westpac Emergency Cash will be available to customers next month throughout its ATM network. From September, customers will be able to generate a code in Westpac mobile banking to make a cardless cash withdrawal.</p>

Money & Banking

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