Deeming freeze a win for Age Pensioners | Vanguard
June 10, 2024
By Tony Kaye, Senior Personal Finance Writer Why the decision to keep deeming rates on hold may be a window for interest rates. In delivering the second reading of the Appropriation Bill (No. 1) 2024–25 last week, otherwise known as the latest federal budget, the Treasurer announced that the current freeze on social security deeming…
Age pension thresholds increase July 1 2023
June 19, 2023
Great news – age pension asset test limits to increase For those clients that are currently not eligible for the age pension please read on. You may be entitled from July 1. There has been an increase in the asset test limit for a full age pension as well as the cut out limit –…
Super changes add flexibility
August 5, 2020
Just when you thought you had a grip on the superannuation rules, they change again. This time though, the changes are mostly positive, especially for older super members keen to top up their savings. From 1 July 2020, changes came into effect with the potential to help retirees as well as members suffering financial hardship…
9 retirement planning myths debunked
June 3, 2020
We’ve all read internet fake news and passed down family stories about common retirement “rules of thumb”. Google the word “retirement” and you’ll get 748,000,000 results in 0.65 seconds. It’s no wonder there’s so much confusion. There’s rarely a one-size-fits-all solution to planning for retirement. So, don’t buy into the hype, stick to the fundamentals…
Economic Stimulus Package – Payments to love income households and pensioners
April 20, 2020
As part of the Government’s series of measures to support the economy and individuals through the Coronovirus crisis, Newstart recipients, age pensioners and veterans are being provided with a one-off payment of $750. These payments started flowing into the bank accounts of 6.5 million (mainly) lower-income Australians from March 31. While most working Australians won’t…
Economic Stimulus Package – What it means for pensioners
April 20, 2020
Federal Government’s second support package announced March 22, flicked the switch to more income support for retirees. Retirees affected by falling superannuation balances and deeming rates out of line with historically low interest rates have been offered some reprieve. In addition to the cut in pension deeming rates announced in the first stimulus package, the…
Coronavirus Safety Net Expanded: What does it mean for you?
March 25, 2020
In a rapidly evolving response to the spread of COVID-19, the Federal Government’s second support package announced over the weekend has flicked the switch to more income support for retirees and workers. Between the first $17.6 billion package announced on March 12, and this latest $66.1 billion package, the emphasis has shifted from stimulus aimed…
The Australian retirement system – good, but room for improvement
December 16, 2019
You could be forgiven for thinking Australia’s superannuation system is a mess. Depending who you talk to, fees are too high, super funds lack transparency and Governments of all political persuasions should stop tinkering. Yet according to the latest global assessment, Australia’s overall retirement system is not just super, it’s top class. According to the…
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