James Coyle

How happy are you?

A couple of weeks ago I came across a Retirement Happiness Index. This index, launched by Challenger on 4 April 2024 makes for interesting reading. It indicates Australian retirees have plenty to keep us busy and engaged, we feel mentally healthy, but we are a bit worried about our physical health and don’t feel financially secure. Why not add your own insights to our version of this survey here.

The index was based on research conducted with over 1000 Australians aged over 60. It identified six key areas which affect happiness in retirement.

Does this Age Pension rule need fixing?

by James Coyle | Centrelink Age Pension

Last week we revealed a little known fact about the Age Pension – and that is, how very unfair the asset test rules are for renters and single renters in particular. We had a lot of media attention following the publication of this Age Pension anomaly. Our team has also had a lot of feedback on how this works. We’ve read your comments and had discussions about whether this inequity needs urgent attention.

Our conclusion is that yes, the Age Pension rules do need to be altered – urgently – to ensure that all older Australians who apply for the Age Pension are treated equitably.

Work Bonus credits: How much can you actually earn?

by James Coyle | Centrelink Age Pension

Do you, too, find the Work Bonus credit as clear as mud? We suspect this may be the case because of the volume of questions we receive on this top. It seems that many Retirement Essentials’ members are simply bamboozled by what should be a straightforward calculation.

The following explainer of the Work Bonus is possible because our Head of Customer Services, Steven Sadler, has taken the time to step us patiently through the rules. Again! Someone send this man some chocolates now!