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In this episode of the nestegg podcast, David Stratford has a chat with Aberdeen Standard Investments’ head of retirement and product strategy for Australia, Jason Nyilas, to discuss all things retirement.

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Investors will learn the importance of financial advice in retirement, as the default pension options available don’t always match up with personal expectations.

Jason also weighs in on whether the impending retirement income covenant goes far enough in supporting individual member needs.

Thanks, Jason, for sharing your insights with the nestegg podcast team!

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Tuesday, 22 October 2019

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New $20 banknote takes to the streets

By Grace Ormsby · October 09 2019

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New $20 banknote takes to the streets

By Grace Ormsby · October 09 2019

Reading:

Australians can finally get their hands on shiny new $20 banknotes, with the top-to-bottom windowed denomination entering general circulation from today.

Commenting on the release, RBA Governor Philip Lowe said it’s “a fantastic new banknote, with world-leading security technology and iconic imagery”.

“Among my favourite features are the top-to-bottom window and the kookaburra, whose wings move up and down as you tilt the banknote,” he said.

The new note also provides a great opportunity to tell stories about people and organisations who have contributed to our past and present, the governor explained, outlining that “one side of the banknote is dedicated to a convict turned astute business person, Mary Reibey, and the other to Reverend John Flynn and the wonderful Royal Flying Doctor Service”.

While retaining the iconic portraits from the previous series, basic design elements have also been retained, and the new $20 note maintains the previously issued note’s size and colour palette.

According to an official statement, the microprint on the $20 note includes excerpts from Flynn’s book The Bushman’s Companion and the names of Mary Reibey’s ships.

A tactile feature is also contained on the new $20 banknote, which aims to help people who are blind or have low vision to distinguish between different banknote denominations. This is three raised bumps on each of the long edges of the banknote.

Existing $20 banknotes can continue to be used and will retain legal tender status, but will be withdrawn from circulation over time.

The new $100 banknote – the final denomination in this series – is expected to be released in 2020.

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About the author

Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.