Jul 28, 2017 | Blog, Centrelink, Retirement Income Streams, Superannuation
The Centrelink Relevant Number is used in determining the deductible amount of a pension income stream for Centrelink Age Pension, DVA Service Pension and aged care means tested fee purposes. The Centrelink Relevant Numbers listed below are applicable for pension...
Jul 20, 2017 | Accessing Superannuation, Blog, Centrelink, Retirement Income Streams, Superannuation
The superannuation deeming rates refer to the income rate that your superannuation or pension savings are assumed to earn for Centrelink, DVA, or aged care purposes. Your retirement savings will either be in superannuation ‘accumulation’ phase or...
Apr 10, 2017 | Accessing Superannuation, Blog, Centrelink, Superannuation
The average retirement age in Australia in 2017 is difficult to determine. The reason it is difficult to determine is because the definition of retirement has evolved over the past decade or so. How do you define the term retirement? There is actually a definition of...
Apr 3, 2017 | Blog, Centrelink, Retirement Income Streams, Superannuation
The defined benefit income stream schedule for Centrelink assessment purposes is determined by the tax free component of the income stream. Unlike other types of retirement income streams, a defined benefit pension does not use a formula to calculate the deductible...
Jan 2, 2017 | Blog, Centrelink, Retirement Income Streams, Superannuation
When determining the entitlements that you are eligible for in relation to the Centrelink Age Pension and some other social security payments, you are assessed using either the ‘Income Test’ or the ‘Assets Test’. Under the income test, some...
Aug 1, 2016 | Accessing Superannuation, Blog, Centrelink, Superannuation
IMPORTANT: Accessing Superannuation via the Severe Financial Hardship Superannuation provisions is a complex area of Superannuation law. It is imperative that you consult a professional superannuation adviser and the trustee of your superannuation fund prior to...
Nov 5, 2015 | Blog, Centrelink, Retirement Income Streams
As if it wasn’t already difficult enough to figure out Centrelink’s assessment of superannuation and income streams! 1 January 2015 saw significant changes to the income assessment of account based pensions and effective abolishing of the deductible amount...
Aug 1, 2015 | Accessing Superannuation, Blog, Centrelink
I recently wrote an article based titled What Age Can You Retire. The general concept or definition of retirement is no different between men and women. Therefore, the retirement age for women is the same as the retirement age for men. So what is the retirement age?...
Jun 15, 2015 | Accessing Superannuation, Blog, Centrelink, Superannuation
What age can you retire? This is a strange question. I think it is asked either because people have different interpretations of the word ‘retire’ or because the majority of us so ingrained with the 3 common stages of life – learn, earn, retire. We...
Apr 16, 2015 | Blog, Centrelink, Retirement Income Streams, Superannuation
This table includes the Life Expectancy for males and females for payments from certain income streams commenced on or after 1 January 2015. This table SHOULD NOT be used in calculating the deductible amount for income streams commenced prior to 1 January 2015. Please...
