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Morrison in the Middle: Changes to Age Pension Eligibility

Nothing has highlighted the unintended consequences of tinkering with retirement income more than last month’s federal budget. The fiscally and politically potent combination of age pensions and superannuation is always complex, however this budget has left many financial analysts scratching their heads. The proposed changes to the Age Pension eligibility criteria, put forward by Minister for Social Services Scott Morrison, will have major ramifications for retirees who had carefully planned for their financial future. While the tighter rules are designed to [...]

2015-06-18T04:47:55+09:30June 17th, 2015|Aged Care, Estate Planning, Federal Budget, FinSec Post|

Changes to Centrelink assessments mean less age pension!

  Concessionally assessed, deeming provisions... unless you are a trained financial expert, determining how the changes to Centrelink assessment rules will affect your individual circumstances can be confusing. The good news is, it doesn’t have to be and there are a number of ways to minimise the impact. This particular legislation however, does come with a deadline (January 1, 2015) so it is critical that you seek advice regarding your options sooner rather than later. The changes: The rules in regards to [...]

2014-10-13T03:25:33+10:30July 30th, 2014|Aged Care, FinSec Post, Pre-Retirement Planning, Superannuation|

Reducing Aged Care Fees with Investment Bonds

As we get older it is a safe assumption that many of us will need to access aged care services. Like any other service we should also expect to pay for it, but what sort of fees should we expect and what strategies should we be thinking about to minimise them? Aged Care Fees - At A Glance:  If you need to move to residential aged care you can expect to pay several types of fees: Entry fees – this is [...]

2014-05-01T04:30:09+09:30October 11th, 2013|Aged Care, FinSec Post, Pre-Retirement Planning|
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