A reminder that the age pension rules change as of the 1st January 2017 which is likely to reduce pensioner entitlements. It’s important that you understand how these changes could affect you.
Increase in the Assets Test threshold
The table below shows the new thresholds.
Increase in the ‘taper rate’
From 2017 the taper rate will increase from $1.50 a fortnight to $3 a fortnight.
Speak to your advisor… If you haven’t already done so and you have concerns how these changes may affect your pension, we encourage you to speak with your advisor in order to explore strategies that may help reduce the impact.