How does this retirement income stream work? An Account-based Pension is often also referred to as an Allocated Pension. It is a regular income stream which is drawn down from the savings you have accumulated in your superannuation fund. This drawdown (or...
The great retirement trade-off The start of a new year is often the time when we plan to make changes to our homes – to buy, sell or renovate. Renovating was almost a national pastime this past year when Covid forced more of us to spend more time at home, up...
Are you a citizen or resident? Does it really matter? Residency and citizenship are very personal matters. They are your own business, right? Well yes, but where your status can become someone else’s business is if you wish to receive a Federal Government...
Last week we defined the Assets Test and rules which are applied to your assets for Age Pension entitlement. This week we look more closely at the Income Test, one of the three aspects by which an Age Pension entitlement will be assessed. Put simply,...
Having successfully applied for a full or part Age Pension, your fortnightly payment may be further adjusted by applying the Pension Work Bonus. This week we define the Pension Work Bonus and explain how it works. Originally introduced in 2009 as an...
Sometimes, we need to remind ourselves just how lucky we are. A friend’s note did that for me the other day. Brian Jones runs a business based in the Philippines from Australia and he shared how grateful he is to be living here, particularly during the...
In addition to your age there are three major considerations upon which your eligibility for the Age Pension is assessed; the income test, the assets test, and your residency status. Today we share the first of a three-part explanation of how these critical...
Taper Rates: Understanding the Age Pension sliding scale This often misunderstood term applies to a sliding scale which sits between entitlement for a full Age Pension, a part Age Pension and no pension at all. When applied to your assets, it means that the...
Can you get free RATs test kits? It’s hard enough to keep up with frequent changes to health rules, let alone changes to your entitlements. So you may have missed the recent announcement of free rapid antigen tests (RATs) for all Australian concession card...