Sep 5, 2023 | Blog, Centrelink, Retirement Income Streams, Superannuation
The deductible amount definition for Centrelink and DVA purposes refers to the amount of income received from an account based pension, allocated pension or defined benefit pension that is not assessed under the ‘Income Test’ When completing documentation...
Sep 3, 2023 | 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...
Sep 2, 2023 | Accessing Superannuation, Blog, Centrelink, Retirement Income Streams, Superannuation
An indexed pension is an income stream that has income payments progressively increasing in value. The purpose of this is an attempt to ensure that the pension recipient has the ability to continue covering living expenses, despite the cost of living increasing due...
Oct 4, 2018 | Blog, Centrelink, Retirement Income Streams, Superannuation
The defined benefit pension Centrelink asset test is based upon the capital value of the income stream. The nature of defined benefit pension income streams is that they do not have a capital value. If you refer to your defined benefit income stream schedule for...
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...