0:11 in this series we've shown how the myor
0:14 lifetime super account lifetime income
0:17 account and deferred lifetime income
0:19 account can improve your client's
0:22 lifestyle in retirement by potentially
0:24 boosting their income and making the
0:27 most of the benefits they are entitled
0:29 to but it's through combining these
0:30 three accounts
0:32 the clients can gain the most
0:34 significant advantages over their
0:37 retirement as an Innovative retirement
0:40 planning solution the my North lifetime
0:43 Suite of three accounts help advisers
0:46 achieve a range of positive outcomes in
0:49 this final explainer we'll bring the
0:51 compounding power of these accounts to
0:54 Life by exploring how they're better
0:57 together we'll compare four scenarios
0:59 showing how clients can achieve Superior
1:02 retirement outcomes through income
1:04 longevity and enhanced centerlink
1:07 benefits let's consider the retirement
1:10 strategies for a couple both 50 years
1:13 old who have a retirement income goal of
1:16 $100,000 a year they have a combined
1:18 super balance of
1:23 $300,000 and each earn a $100,000 salary
1:25 will'll assume a super guaranteed
1:29 contribution of 12% and a retirement age
1:35 [Music]
1:37 to establish a baseline the first
1:39 strategy sees the couple both with
1:43 standard super accounts from age 50 to
1:47 66 at 67 they convert 100% of their
1:50 balances to account-based pensions the
1:53 income chart shows the contribution of
1:55 both the age pension and account-based
1:58 pension over their lifetime this sees
2:00 them achieve their income goals which is
2:05 $100,000 a year up until age 89 at which
2:07 point their account based pension
2:10 depletes and their sole source of income
2:21 pension death benefits also decline over
2:23 time as they draw down their balance
2:27 effectively coming to an end at [Music]
2:28 [Music] 90
2:30 90 [Music]
2:37 strategy 2 sees the couple again relying
2:39 on standard super accounts in the
2:43 accumulation phase but at age 67 they
2:45 split these savings equally between a
2:48 minor lifetime income account and an
2:52 account-based pension in this scenario
2:54 they achiev their yearly
2:58 $100,000 income goal until age 89 as is
3:01 the case when they don't use my nor
3:03 lifetime however now when their
3:06 account-based pension depletes their
3:09 lifetime income accounts continue to pay
3:12 over $20,000 in additional income on top
3:14 of the age pension they receive each
3:30 live [Music]
3:39 in our next strategy the couple both
3:42 have standard super accounts from age 50 to
3:43 to
3:48 66 however from 67 to 73 they convert
3:51 50% into a my North deferred lifetime
3:55 income account and the other 50% into an
3:58 account-based pension modeling shows the
4:00 couple can gain substantial age pension
4:02 benefits from the Deferred income
4:05 account by making commutations which the
4:08 couple choose to do remember the
4:10 Deferred income account is available to
4:12 clients who have met a condition of
4:15 release and provides tax-free earnings
4:17 bonuses and continued
4:21 benefits at 74 the couple roll over
4:22 their deferred income account to a
4:25 lifetime income account while keeping
4:27 the account based pension due to the
4:30 additional age pension and commutation s
4:32 taken from their deferred income account
4:34 during the early years of their
4:36 retirement the couple's account-based
4:39 pension is able to last longer they are
4:42 able to achieve their desired $100,000
4:46 yearly income until age 94 an additional
4:49 5 years and again once their account
4:52 base pension depletes their lifetime
4:55 income accounts continue to pay over
4:58 $20,000 additional income on top of the
5:00 age pension they receive here for as
5:11 live this also enables the couple's
5:24 mid90s strategy 4 starts with the couple
5:26 both having my North lifetime super
5:29 accounts remember clients can stay in
5:31 this account until they meet a condition
5:34 of release and can transition into one
5:38 of our other lifetime Accounts at 65
5:41 they convert these savings with 50%
5:43 placed in a minor deferred lifetime
5:46 income account and 50% in a standard
5:50 super account however at 67 in this
5:53 scenario they draw commutations from the
5:55 Deferred income account while rolling
5:57 over their standard super to an
6:01 account-based pension finally at 74 the
6:04 Deferred income account is converted to
6:06 a minor lifetime income account while
6:09 maintaining the account-based pension
6:11 this allows them to achieve their yearly
6:13 retirement income goal of
6:17 $100,000 for at least 15 more years when
6:19 compared to a strategy that doesn't
6:22 include a lifetime income stream this is
6:25 because of the increased age pension and
6:28 lifetime income withdrawals subsidizing
6:30 the larger portion of their income goal
6:32 which allows their account base pension
6:35 to last substantially longer this
6:38 scenario shows the power of the myor
6:41 lifetime Suite of accounts working in [Music]
6:58 [Music]
7:01 combination m North lifetime is a range
7:03 of three solutions that expand the
7:05 options available to your clients on the North
7:07 North
7:09 platform to learn more about the my
7:11 North lifetime Solutions and their
7:14 benefit for advisers and their clients
7:17 please view the full range of videos in
7:20 this series or feel free to reach out to
7:28 [Music] conversation
