A bold initiative from the Actuaries Institute proposes that the family home should now be included in the assets test. It’s far from the first time this policy has been suggested – and it probably won’t be the last. But is it an idea worth considering? A...
But how will this work for you? As you no doubt know the income and asset limits for full and part-Age Pensions were increased on 1 July this year. This is good news for many Australians who may have almost qualified for the Age Pension. It also means a...
Over the last few weeks we have received lots of comments and questions from customers wondering how their partner’s age and working arrangements can affect their entitlements. So this week we are going to answer some of those questions. I am 67 and retired...
Here are the facts The good news about Centrelink is that, as an agency of Services Australia, it is held accountable. The mechanism by which this occurs is through frequent Senate Estimates Committees which scrutinise Centrelink performance and its key...
There are two major problems with the Age Pension income test. Firstly, the limit on how much you can earn is too low for retirees who are seeking ongoing meaningful workplace engagement. And secondly, the rules are now so complex, applicants for an Age...
Last week we promised an update on deeming thresholds. Along with the main income and asset threshold changes on 1 July the deeming thresholds will also be increased. This benefits all those whose assets are deemed to earn income by Centrelink. We have...
July 1. It's one of my favourite times of year. We have passed the winter solstice and the days, albeit still dark and cold (at least down south), are slowly getting longer. And for the financial nerd part of me it is also the start of a new financial...
Anh and Kim had a dilemma. They consider themselves lucky as they have worked and saved hard to now have more than $1 million in assets and they own their home. They are both over 67 so can qualify for the Age Pension – except they don’t! Their...
The biggest win for retirees in this year’s Federal Budget was the decision to freeze deeming rates until 30 June 2025. We reported on this in our Budget 2024-25 wrap, but wanted to take time to further explain this for those who are not quite sure how...