All you need to know in 2023 The Age Pension provides core funding for about seven out of 10 Australian retirees. The stated intention of this entitlement, according to the responsible department, the Department of Social Services, is to to support the...
Understanding Age Pension increases: Do they cover cost of living? Back in December we reported on the likely Age Pension increases due on 20 March 2023. At that time the annual Consumer Price Index was 6.9% and the most recent Pensioner and Beneficiary...
Higher super caps in July: But beware the detail It’s worth remembering that the Consumer Price Index (CPI) is relevant to all retirees, not just those receiving an Age Pension. Increases in the CPI can also trigger major changes in superannuation rules for...
Top five wins for retirees … …in 2022 and beyond What were the changes/issues that most affected retirees income in 2022? It’s easy to feel rattled such frequent headlines of interest rate rises and galloping inflation - particularly when you are...
Centrelink rules in action Disappointing scorecard We often mention the 80/80 rule of retirement income. For a good reason. This is a reminder that, by their eighth decade, 80% of Australians will be on at least a part Age Pension. A significant majority...
PART TWO Your home, your retirement:1 January changes to deeming and downsizing Last week we covered the new 1 January rules for downsizing and super.This week we are looking at the way downsizing is treated within the Centrelink means test.This is a...
An easy win We don’t know what we don’t know. And this can seem really unfair if we miss out on something purely because we had no idea it was available.This can happen if Centrelink counts your land as an asset, but there is the possibility that it should...
Is the Age Pension fair? Do the rules work for you? What seems fair to one person may seem the opposite to someone else. So when the national government is the major source of retirement income for those aged over 66 there are often varying perceptions...
Energy Rebates update: How they will be applied? Two weeks ago we reported on the new Energy Rebates for retirees. At the time, they had yet to pass both houses of Parliament, but this has now happened. Whilst we loved being thanked for this information by...