Last week we went back to basics by explaining how the assets test works. This week we share the ‘second-part’ of this important retirement income update – an explanation of the way the income test is used to assess Age Pension eligibility. What is the...
How the rules work for you In our recent article on the fairness of the Age Pension we received a few questions as to why the family home was listed in the comparison between three different retirement households. These questions highlighted the need...
Minimum pension withdrawals are a fairly straightforward aspect of moving from the saving to spending phase of retirement. Or they should be. But in recent adviser consultations, Retirement Essentials members have revealed a degree of concern and confusion...
A tale of three retirements With just on two thirds of retirees receiving an Age Pension from age 67 onwards, this benefit remains the main form of income for older Australians. As the super system matures, the amount of ‘top-up’ provided by super is...
Understanding Age Pension increases and……do they cover the cost of living? A couple of weeks ago we reported on the September 20 Age Pension increases. This is one of two increases that occur each year with the next one scheduled for March 20...
One in five of the people we see still have a mortgage on their home. Many of them also have money in the bank, super or some other investments. For part pensioners this can sometimes be costly. This is because most part pensioners, and those that aren’t...
When it comes to retirement, entitlements is a term we hear a lot, but it can also be misunderstood. Many people believe that retirement entitlements are confined to government benefits, specifically the Age Pension the associated Pension Concession Card....
Simple sums that share the rules The Retirement Essentials advice team is currently handling a lot of questions about Age Pension eligibility and the gifting of money or possessions to family members. At one level, the rules are fairly straightforward. But...
Here’s what you’ll get The twice-yearly Age Pension indexation is due to increase 20 September. This Age Pension increase is much higher than the one that was awarded in March this year ($19.60 for singles and $29.40 for couples). We reported on 8 August our...