Super is a hot topic right now, with everyone seemingly having an opinion on what is the ideal amount to live on in retirement – and how to encourage this in an equitable way. While most of us are unable to influence the financial policy makers, our best...
Last week the expected increases to the Age Pension were published by Services Australia, the government department responsible for indexation of the Age Pension every March and September. The current rates and rules are summarised for you You may...
Income test made easy: How Centrelink assesses your earnings How much can you earn and still qualify for an Age Pension? Most pre-retirees and retirees would quite reasonably expect this question to be answerable in one sentence, or maybe two, to allow for...
How pensions will change in March Last year the jump in the October Consumer Price Index (CPI) surprised many. The overall year-on-year (YOY) increase of 6.9% was lower than expected, and lower than the September YOY increase of 7.3%. The main movements were...
What does the ‘Bring-Forward’ rule mean? Who can use it? There were multiple changes in superannuation last year, many in relation to non-concessional super contributions. In particular, as we reported, the ages at which different types of contributions can...
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...