Will the upcoming Asset Test changes topple your retirement plans?

The upcoming changes to the Asset Test for Centrelink Aged Pension has been a topic of interest for many individuals in retirement wanting to understand what impact it will have on their aged pension.

We have kept a close eye on this topic for nearly 12 months, and have been communicating to our clients so they have a solid understanding of what these changes mean, and what action, if any, is required for their retirement planning needs. 

Coming into affect on 1 January 2017, these changes will have a huge impact on many retired Australian’s and they may be asking themselves…

“What does this really mean for me – and what are my options?”

Here's a quick snapshot of the asset test changes for your reference.

 Please note that Asset values may be slightly higher if paid Rent assistance, or slightly lower if outside Australia.

Please note that Asset values may be slightly higher if paid Rent assistance, or slightly lower if outside Australia.

If you, or someone you know is in danger of losing some or all of their Centrelink Age Pension, seek advice to understand your options and ensure these changes don't topple your retirement plans.