Amanda Hardy Lai, Author at Retirement Essentials

How to make the most of concession cards

by Amanda Hardy Lai | Commonwealth Seniors Health Card

More than a million Australian retirees are potentially eligible for the Commonwealth Seniors Health Card (CSHC) and haven’t applied. This card offers savings that can make a real difference – on prescription medicines, bulk billing, and even some state-based discounts. Some estimates suggest savings of up to $3,000 per year or $60,000 over a 20 year retirement.

But how much does the card really deliver? Some retirees expect thousands in discounts, only to find they don’t qualify for rebates in their state. Others are pleasantly surprised by unexpected perks that make a real difference. Knowing what’s available where you live can help you make the most of it.

For an update on the different concessions and health care cards, read our latest guide: Concession and health care cards update.

All about downsizing: What you need to know

by Amanda Hardy Lai | Retirement Advice

Downsizing is a major financial and lifestyle decision, offering the chance to free up home equity and boost your super balance in retirement. We regularly explore it because of the unique retirement planning opportunities it presents.

At its core, downsizing means selling your current home and purchasing a smaller, more affordable property. But it can also mean moving to a rental or a different living arrangement that better suits your needs in retirement.

Downsizer contribution rules allow eligible retirees to contribute up to $300,000 from the sale of their home into super, without impacting their usual contribution caps. This can help boost retirement savings in a tax-effective way, even for those who may not otherwise be able to contribute to super.

We know that downsizing isn’t for everyone. In some areas, selling and buying a smaller home leaves little financial gain, and moving costs add up. Research from the Australian Housing and Urban Research Institute (AHURI) shows that fewer than 20% of older homeowners who sell and buy another property actually reduce their housing equity.

That said, at Retirement Essentials, we’re often asked about the rules and eligibility for downsizing contributions to super.

Retirees want to understand how it works, what limits apply, and what impact it could have on their Age Pension Entitlements. So, if downsizing on your radar, here’s what you need to know about making a super contribution from the proceeds.

The deeming rates freeze: What happens if it ends in July?

by Amanda Hardy Lai | Centrelink Age Pension

Why the unfreezing of deeming rates in 2025 matters.

Using deeming rates is the way Centrelink calculates the income you earn from your financial asset, regardless of whether you receive that income or not.

In May 2020, the then Morrison Government froze deeming rates to protect retirees during the economic uncertainty of COVID-19. This temporary measure was extended twice, most recently to July 2025, to help pensioners manage rising living costs.

The most recent freeze is now scheduled to end – but will it? With a federal election approaching and cost-of-living concerns still high, some wonder if the Albanese Government might extend it again.

If the freeze does end, how much might deeming rates rise? And how can (or – is it possible for ?) retirees (to) prepare?

What are deeming rates?

Centrelink uses deeming rates to estimate income from financial assets (excluding homes, home contents, cars, etc.) rather than using actual investment returns or the income you received.

The current rates are:

Singles: 0.25% on assets up to $60,400, 2.25% on amounts above

Couples: 0.25% on assets up to $100,000, 2.25% on amounts above.

Deeming rates were much higher in the past, but were reduced as interest rates fell. They have remained unchanged since 2020.