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Showing 11 - 20 of 64 results for "Assets Test"

Super tax concessions cost less than future Age Pension savings: Mercer

ANDREW MCKEAN  |  TUESDAY, 22 AUG 2023
... tax concessions, they end up drawing a higher Age Pension as their super balances diminish, primarily because of the assets test. By the age of 75, those in this model would see their total retirement income surpassing that of their counterparts who ...

Cut spending and raise taxes, super preservation age: Grattan

JAMIE WILLIAMSON  |  WEDNESDAY, 12 APR 2023
... spend while working. At the same time, Grattan has suggested counting more of the family home towards the aged pension assets test, saying this could save about $4 billion a year. The main argument for this is that about 40% of the government's spending ...

AMP debuts hybrid retirement solution

ANDREW MCKEAN  |  TUESDAY, 18 OCT 2022
... the Age Pension rules meaning an investment in this solution qualifies for a 40% upfront discount on the Age Pension assets test. The other available options, the MyNorth Lifetime Super account and Deferred Lifetime Income account can be opened before ...

Government proposes further expansion of downsizer scheme

JAMIE WILLIAMSON  |  TUESDAY, 17 MAY 2022
... for their retirement." The government said it will also make proceeds of the sale of a home exempt from the pension assets test for two years; currently the exemption applies for just one year. This would be implemented from 1 January 2023.

Family home dominates adviser conversations

KARREN VERGARA  |  MONDAY, 25 JAN 2021
... and want to use the proceeds to buy, build or renovate a new principal home. Such proceeds can be exempt under the assets test for 12 months and will not adversely affect their pension during that time. Clients also frequently asked about the bring-forward ...

Homeowners given preferential treatment: RIR

ELIZA BAVIN  |  FRIDAY, 20 NOV 2020
The Retirement Income Review found the treatment of housing in the Age Pension assets test provides more support to homeowners compared to non-home owners. The review found the preferential treatment given to home ownership leads to inequities in the ...

Super needs improvement: Report card

KARREN VERGARA  |  WEDNESDAY, 21 OCT 2020
... starting by increasing the pension age and requiring members to take benefits as an income stream. Moderating the assets test on the means-tested Age Pension to increase the net replacement rate for average income earners, and raising the household saving ...

Australia climbs up Mercer global pension index

HARRISON WORLEY  |  MONDAY, 21 OCT 2019
... income requirements, some income focus on the system, that would improve the score." The report also called for the assets test taper to reduce from $3 to $2.25 per fortnight in an effort to improve adequacy for Australian retirees and lift the score. ...

Complex retirement system requires simplicity: Report

KARREN VERGARA  |  WEDNESDAY, 21 AUG 2019
... incentives." One way it can be simplified is by eliminating the need for means-testing for the Age Pension by applying the assets test less frequently, the paper suggests. Having two separate assets and income tests to qualify for the Age Pension is ...

Super delivers for the masses: Challenger

KARREN VERGARA  |  WEDNESDAY, 26 JUN 2019
... achievable," Challenger wrote in its Retirement Income Research paper. How super balances interact with the Age Pension assets test is important for retirees as the average, large APRA fund member in retirement phase is not eligible for the full Age ...