Blog – Maddern Financial Advisers
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Growing retiree numbers highlight the importance of using retirement planning tools: ASFA Retirement
11/Mar/2015
ASFA released the December Quarter Retirement Standard last week, and it was no surprise to learn that older couples wanting to live a comfortable retirement will need to spend $58,364 per year, up 0.1 per cent on the previous quarter. With the Intergenerational Report illustrating an increase in the number of retirees and predicting people […]
Centrelink Asset Testing has changed for Account Based Pensions
02/Mar/2015
So what has changed? Up until the beginning of 2015, Account Based Pensions (ABP’s) were treated favourably by Centrelink and DVA, and assessed under the income test rules based on the level of income that they were producing in order to determine how much income support would be paid. From 1 January 2015, ABPs will no longer have the income test […]
The top 3 issues that every pre-retiree should be aware of
06/Feb/2015
For most Australians, a comfortable retirement is a long term goal that remains in the back of our minds for many years. Many of us (especially the baby boomers), watched our parents & grandparents struggle along on a Government pension and vowed never to do so ourselves. The Australian Bureau of Statistics (ABS) survey in […]
Changes to how superannuation pensions affect social security benefits
31/Oct/2014
From 1 January 2015, income from superannuation pensions will be taken into account in determining whether you are eligible to receive the Age Pension (full or part payment) or the Commonwealth Seniors Health Card (CSHC). This might affect your ability to access either of these social security benefits in the future. The social security means […]
Can self-funded retirees access a concession card?
24/Sep/2014
Many self-funded retirees are surprised to learn that they may qualify to receive a concession card upon ceasing work, despite not qualifying for any Government Age Pension or DVA payments. Most Centrelink benefits require applicants to meet income and/assets tests before they can qualify for a benefit, and whilst the Commonwealth Seniors Health Care card […]