06 Nov Beware of Aged Pension Pressure
It’s hard to believe it’s February already, with the nation back at work and kids back at school after the summer holidays.
In this month’s snapshot we look at the new pension asset test rules and the importance of reviewing all sources of income before making any rash decisions.
By now, retirees will know the impact, if any, of the tightening of the pension assets test that came into force on January 1. Many retirees who previously qualified for a part Age Pension are worse off, prompting suggestions in some quarters for retirees to dispose of assets so they continue to qualify. But is this wise in the long run?
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