Want some help? Email: hello@retirementessentials.com.au

 

Hi, it’s Greg from Retirement Essentials, your helping hand when applying for the age pension. An account based pension is also known an as ‘allocated’ pension and it’s a regular income stream drawn from the money you’ve accumulated in your super. The account balance of your pension is subject to the assets test, but the income is deemed – that means it doesn’t matter what actual income you receive from your account based pension, because Centrelink use a set of rules and assume a level of income from your financial assets. You can see the current assume rates of income here. Please leave all questions in the “Comments” section.