Sheena Stow-Smith from PensionHelp answers reader questions about the impact on Age Pension entitlements of buying or selling the family home.
Sheena Stow-Smith from PensionHelp answers reader questions how minimum drawdowns impact Age Pension entitlements. Q: My question is in relation to the Age Pension entitlement amount for my parents. My parents’ minimum drawdown amount from their super pension was 7% per year, now it’s dropped to 3.5%. Does this affect the amount of Age Pension […]
Sheena Stow-Smith from PensionHelp answers reader questions about super pensions and the Commonwealth Seniors Health Card. Q: I commenced my compulsory pension drawdown in my SMSF in 2012. I couldn’t apply for a Commonwealth Seniors health Card at that date as I hadn’t reached the official retirement age at that time. My birth date is […]
The means test that most affects Age Pensioners is the Income Test. Full pensioners make up 67% of Age pensioners, followed by 18% of Age Pensioners assessed under the Income Test. Careful consideration should be given when making changes with account-based pensions commenced pre- 1 January 2015. Provided the pension member has been in continuous […]
We often get asked what are the differences between the Age Pension and the Disability Support Pension for those who have reached Age Pension age. Centrelink will invite those on the Disabilty Support Pension to transfer to the Age Pension up to 13 weeks before they reach Age Pension age. You will need to tell […]