When an entitlement such as the Age Pension has been in place for more than a century, it’s tempting to assume that the rules are well-known and easy to follow. Not so, unfortunately. Every day the Retirement Essentials Customer Services Team hears from retirees who either didn’t know about rules or didn’t thoroughly understand them, much to their financial detriment.
As you know the team at Retirement Essentials is dedicated to helping to make things as easy as possible for those who are planning for or living in retirement. Today we share a summary of five aspects of Age Pension eligibility that continue to confound applicants and result in lower fortnightly payments. These mistakes run the gamut from timing, reporting, complexity of the means test and partner rules to how to value your assets.
