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Age Pension

Will she lose her pension?

YOURLifeChoices subscriber Catriona would like to know how the proceeds of the sale of her mother’s home will affect her Age Pension.

Age Pension

How to start retirement

I will reach Age Pension age early next year but don’t know how to start the process of retirement. I have never had any dealings with Centrelink and don’t know whether I need to contact them, if they will contact me or if I will even be eligible to receive the Age Pension. Can you point me in the right direction?

Uncategorized

Simplifying aged care fees

Fees and charges applied by aged care facilities are asset and income tested, making it difficult to understand what you will be liable to pay. Firstly, if you are entering a low care facility, you may have to pay an accommodation bond. If your assets are between... n

Centrelink – Services Australia

Assets and Centrelink

Recently I was speaking to Centrelink (telephone discussion) to update some personal details. I was advised that the value of contents is added to any investments, e.g. bank account interest, to work out if there has been an income from these “investments”. Could you please advise if this is correct as I have always understood that Contents was a depreciating asset & fail to see how to reconcile this with bank interest.

Age Pension

Do we need to downsize?

Generally speaking, your principal home and adjacent land needs to be under two hectares and on a single title document to be exempt from the assets test. However, in some cases a customer's whole property (of more than two hectares) may be exempt from the assets test if they meet certain criteria.

Allowable Earnings

Centrelink asset classes

YOURLifeChoices subscriber Maureen is contemplating a move to over 50s accommodation but is concerned about how Centrelink will view this asset.

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