Amanda Hardy Lai, Author at Retirement Essentials

Too wealthy for the Age Pension? You might still qualify for a valuable health card

by Amanda Hardy Lai | Commonwealth Seniors Health Card

Many self-funded retirees assume they won’t be eligible for the Commonwealth Seniors Health Card (CSHC) because their assets are too high. But unlike the Age Pension, the CSHC is assessed on income only – there’s no assets test.

And that income isn’t based upon what your super or Account-Based Pension actually earns. Centrelink applies deeming rules, which estimate a standard rate of return regardless of your fund’s real performance. Thanks to these rules, even retirees with significant assets –in some cases, up to $4.5 million (singles) or $6.8 million (couples), – may still qualify, depending on how their income is assessed.

How to set up your kids for success – without putting yourself (or them) at risk

by Amanda Hardy Lai | Retirement Advice

A growing number of parents and grandparents are stepping in to help the next generation buy a home. But while the generosity comes from the heart, the financial and legal implications can be anything but simple – especially when family dynamics, relationships or Centrelink comes into play.

The Bank of Mum and Dad: It’s not just for the wealthy

You might think the Bank of Mum and Dad (BOMD) is only for the wealthy – but the reality is quite different. More and more everyday Australian parents are stepping in to give their kids a helping hand, especially when it comes to buying a home.

It’s not always about large sums either. For many families, it’s about doing what they can to give their children a more secure start in life.

Recent data from the Household, Income and Labour Dynamics (HILDA) survey shows a clear trend: between 2019 and 2022, about 7% of children received financial gifts from their parents – with an average gift of just over $9,000. These weren’t parents still living with their children either – they were “non-resident” parents, which would include parents whose adult children have already moved out.

While these amounts might not sound huge on their own, they point to something bigger. Parents are helping out in growing numbers – often by stretching their own finances to support the next generation.

This rise in support isn’t just about wealth. It’s about love, fairness, and the deep desire many families have to see their kids get a fair start in life.

A real-life dilemma

Peter and Lorna are in their early 80s. They receive a part Age Pension, own their home, and have modest superannuation. Their adult daughter, recently separated, is trying to buy a home of her own. Peter and Lorna want to help – they want to make sure their daughter is financially secure in her new start – but at the same time they need to know their support won’t put their own retirement at risk.

What Centrelink can and cannot do

by Amanda Hardy Lai | Centrelink Age Pension

Ever wondered just how much Centrelink really knows about you? You’re not alone. With so much of our financial life now online, many people ask: What can Centrelink access — and what are they legally allowed to do with that information?
These are valid questions — and ones we hear regularly from our members. While the controversial Robodebt scheme is thankfully behind us, it sparked ongoing concerns about surveillance, fairness, and how personal data is used in assessing eligibility for payments like the Age Pension.

This lingering anxiety can show up in many ways — including reluctance to disclose personal relationships, even new romantic ones, for fear of misinterpretation or unintended consequences. These concerns continue to echo the issues raised during the Robodebt era.

While it’s true that Centrelink has significant data-matching powers, it’s also bound by laws that protect your privacy and require decisions to be fair, transparent, and reviewable.

In our experience, a lot of the stress comes from not knowing what to expect — or from hearing horror stories that don’t reflect how things usually work. So we asked Steven Sadler, our calm and experienced Head of Customer Service at Retirement Essentials, to share the five assumptions that still cause the most confusion and concern – and what the rules really say.