Centrelink
The $3 billion money pot a million retirees mistakenly ignore
One in four retirees could be thousands of dollars a year further ahead just by claiming one or more key government entitlements as soon as they’re eligible. Are you missing out? Australia’s retirees are missing out on about $3 billion a year in money that could be used to pay essential living expenses — often because…
Read MoreWhat assets can you have before losing your Age Pension?
There are many benefits to receiving an Age Pension or even a part pension, but there are limits to what level of income or assets you can have, to be eligible. Regarding assets, the key limits as at 20 September 2024 are as follows: To receive a full pension, assets (excluding the value of the…
Read MoreWant to earn more and keep your Age Pension?
Want to earn more and keep your Age Pension? Many people continue, or even start, working once they’ve reached Age Pension age. This may be for social reasons, personal fulfilment, or to maintain their standard of living. With the higher cost of living, even more pensioners are taking up work. But what does this mean…
Read MoreWant to earn more and keep your Age Pension?
Many people continue, or even start, working once they’ve reached Age Pension age. This may be for social reasons, personal fulfilment, or to maintain their standard of living. With the higher cost of living, even more pensioners are taking up work. But what does this mean if you’re receiving the Age Pension? The government’s Work…
Read MoreUnderstanding reverse mortgages
Understanding reverse mortgages Reverse mortgages are home mortgages that work in the opposite way to a normal home mortgage. Instead of interest and capital being repaid over a fixed term, there are no repayments. Rather interest is capitalised until the loan is repaid which takes place when either the home owners sell the property or…
Read MoreDid you know gifting can impact your Age Pension?
Gifting, or financially assisting family or friends can impact your Centrelink age pension. Giving away some of your assets or accumulated retirement savings, can be a great way to help out younger family members or friends. But before you gift a significant amount, it’s important to understand how this could impact your Age Pension or…
Read More7 age pension traps to avoid
After a lifetime of hard work, you can maximise your entitlements in retirement by avoiding these y age-pension traps. So you need to structure your finances carefully to make sure you don’t lose your age pension. After all, you’ve earned it. Here are some common traps to be aware of. Helping loved ones out…
Read MoreGranny Flat Arrangements and Centrelink Gifting Rules
Granny flat arrangements can be a viable option for retirees looking to downsize their home, especially if they want to live with relatives or friends. However, it’s important to consider the implications of such an arrangement, particularly in terms of social security rules and the Gifting Rules. This refers to the regulations that Centrelink imposes…
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