Sep 1, 2023 | Accessing Superannuation, Blog, Centrelink, Retirement Income Streams, Superannuation
The relationship between Allocated Pensions and Centrelink is important to understand. Your allocated pension will affect the level of Age Pension that you are entitled to. This article explains how your Allocated Pension affects your Centrelink entitlements and what...
Sep 2, 2019 | Blog, Centrelink, Retirement Income Streams, SMSF, 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...
May 27, 2019 | Accessing Superannuation, Blog, Retirement Income Streams, SMSF, Superannuation
This article discusses how to rollback a pension to accumulation within superannuation. Within superannuation you can have an accumulation account and/or a pension account. In fact, you may have separate accumulation accounts with different superannuation providers....
Jan 22, 2019 | Accessing Superannuation, Blog, Centrelink, Retirement Income Streams, Superannuation
What does it mean to commute a pension? A pension commutation is a lump sum withdrawal from the theoretical capital supporting the pension. The theoretical capital is not exactly calculated as the pension balance itself. Basically, if a lump sum withdrawal is made...
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...
Oct 3, 2018 | Accessing Superannuation, Blog, Contributing to Super, Death Benefits, Retirement Income Streams, SMSF, Superannuation, Superannuation Tax
This superannuation recontribution strategy calculator allows you to calculate the benefits of a recontribution strategy. Specifically, this recontribution calculator shows how the taxable and tax-free components are affected by the strategy. The benefits of a super...
Sep 12, 2018 | Accessing Superannuation, Blog, Centrelink, Retirement Income Streams, Superannuation
The partial commutation of an account based pension is where a portion of the capital value of the pension is withdrawn or rolled back to superannuation accumulation phase or withdrawn from super entirely. Partial commutations of account based pensions are usually...
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 18, 2017 | Accessing Superannuation, Blog, Retirement Income Streams, Superannuation, Superannuation Tax
An Allocated Pension income stream (also known as an account based pension) is an income stream commenced using your accumulated superannuation savings. An Allocated Pension is currently the most common form of income stream used by retirees. Here’s how it...
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...