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May 16 Update – Trevor Thompson

You might have read a post about changes to the Centrelink assessment of an Account based Pension (what you turn your super into when you retire)
The current exemption from the Age Pension Income Test goes in January next year. Currently Account Based Pension income also enjoys an exemption from the income test for the Commonwealth Seniors Health Card, the card for self funded retirees.

The budget has scrapped this exemption from January as well.

Account Based Pensions started before then that maintain eligibility criteria WILL KEEP the current exemption.

Yet another reason to make sure your affairs are in order if you are retired or retiring soon and the Age Pension is part of your planning.

See an expert now

By Trevor Thompson. 
CFP DipFP

SENIOR PARTNER

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