Six Strategies to Maximise the Age Pension
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- Опубликовано: 23 июл 2024
- The Centrelink Age Pension is a reliable source of income for a lot of Aussies. In this video, we explore six different strategies you can utilise to help maximise your entitlement. For some, this can be the difference between getting no pension and receiving a part pension.
--TIME STAMPS-
00:00 Introduction to maximising the Age Pension
01:41 The income and assets test
03:20 Gifting
04:47 Upgrade principal residence
05:50 House money in spouse's superannuation
07:06 Lifetime annuities
08:32 Funeral expenses
09:56 Repay debt against exempt assets
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#retirementplanning #agepension #centrelink
I am looking for ways to optimize my Age Pension entitlements while ensuring legal compliance, I have heard from RUclips channel which is to contribute super to my younger spouse in order to legally hide money from Centrelink Age Pension. I already at Age Pension age while my partner is several years away.
I just want to found out for Centrelink purposes, will this action to be seen as Gifting? And it’s not benefit to optimize my Age Pension entitlements within a period of 5 years.
Thanks for your kind advice.
@elsachu9607 yes, this is a common strategy employed by a lot of retirees and it is not deemed as a gift. There are a few things to be aware of so just make sure you do your homework first 😊
Hi Brad. If my partner is to apply for pension, would he be assessed on his own or as a couple? What is the income and asset threshold to be eligible?
Hey Vanessa, you are assessed as a couple even if only your husband is eligible.
I deliberately didn't put the asset thresholds in the video because they depend on your situation and change regularly, but you can find them here www.servicesaustralia.gov.au/assets-test-for-age-pension?context=22526