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Showing 1 - 10 of 87 results for "Means Test"

Taskforce suggests aged care funding be based on personal wealth

JAMIE WILLIAMSON  |  TUESDAY, 12 MAR 2024
The final report from the government's Aged Care Taskforce suggests the amount paid by Australians accessing care should be determined by their personal wealth, including superannuation, rejecting the idea of an aged care levy. On the back of the ...

Older Aussies are retirement illiterate: Survey

KARREN VERGARA  |  TUESDAY, 19 SEP 2023
Australians are pension-phase illiterate and blame the complex superannuation system for not understanding the basics about retirement, a new survey shows. A whopping 70% of 50-year-olds and over canvassed by AMP do not understand what an account-based ...

Ring-fencing super for aged care adds complexity, cost: ASFA

ANDREW MCKEAN  |  WEDNESDAY, 13 SEP 2023
... superannuation advocacy body specifically criticised the unfairness of counting ring-fenced assets in the Age Pension means test, given these funds would be inaccessible to support retirement income. It also warned that ring-fencing would limit financial ...

KPMG recommends gender-focused super reforms

ANDREW MCKEAN  |  MONDAY, 17 JUL 2023
... Carer Payment could help. "It's a highly equitable policy, since recipients of the Carer Payment must satisfy a means test and therefore are on low incomes," Elkins said. "People who carry out unpaid caring work pay a price not only in terms of lost ...

Cut spending and raise taxes, super preservation age: Grattan

JAMIE WILLIAMSON  |  WEDNESDAY, 12 APR 2023
These are just some of the recommendations from Grattan Institute ahead of the federal budget, which also include counting more of the family home in the aged pension assets and residential aged care means tests. With Australia on course for 25 straight ...

Pensioner work bonus top of mind for advisers

CHLOE WALKER  |  TUESDAY, 17 JAN 2023
Social security measures relating to the Age Pension are among the most popular regulatory topics for Australian financial advisers, based on the questions they're asking BT's technical team. According to BT, the $4000 increase to the work bonus for ...

Retirees are silent casualties of inflation: Challenger

ANDREW MCKEAN  |  MONDAY, 24 OCT 2022
... retiree and their access to capital is constrained appropriately then there can be a beneficial application of the means test rules for users of the innovative income streams," the report said. "This provides the same treatment as guaranteed lifetime ...

Optimum Pensions, Generation Life launch lifetime annuity

CASSANDRA BALDINI  |  WEDNESDAY, 3 AUG 2022
... retiree will still have access to funds in retirement. It can also provide an Age Pension boost due to the concessional means test treatment." He added that after meeting with Generation Life, it became clear both were searching for a retirement product ...

Actuaries Institute releases retirement policy review

KANIKA SOOD  |  MONDAY, 23 AUG 2021
Over 200 actuaries provided feedback for a new policy paper from the Actuaries Institute which is recommending a superannuation guarantee rate of 10-12%, earlier access to retirement savings and disincentives for pension lump sums and bequests. Securing ...

RIR reveals bleak financial upside for disabled people

ELIZABETH MCARTHUR  |  THURSDAY, 3 DEC 2020
... far enough. People who are blind are not means tested for the age pension or disability support pension. In 1954, the means test for people who are blind was removed as part of a broader aim to remove all means testing from the age pension. "As people ...
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