Monday, February 21, 2011

Super & Allocated Pensions – under the age pension age

The last post we discussed the issues surrounding allocated pensions and ‘money in the bank’.

What we did not highlight was the implications should a partner be under the age pension age.

If a pensioner has a partner under the age pension age, then super assets of that partner are not taken into account. However if the partner starts an allocated pension / income stream, then the asset value, and income will come into the Centrelink pension calculations.

Swapping the allocated income stream back to an accumulation phase super will reverse the treatment by Centrelink.

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