Q: I am 71 years old. I do not get the age pension because my husband is 62 years old and still working and receives a salary of $70,000 gross per year. Is it possible for him to take out part of his superannuation and still continue to work and pay out the balance of our Mortgage of $100,000? Since I am not eligible to receive my age pension from Centrelink which would have helped.
I suggest you contact the Financial Information Service which is run by Centrelink that can help you go through your options.
If an individual is still working and under the age of 65, then a way to access up to 10% of super benefits is to start a transition-to-retirement pension (TRIPs).
I explain how TRIPs work here.
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Although you are not currently entitled to an age pensin you may be eligible for a Commonwealth Seniors Health Care Card from Centrelink.
As a couple your adjusted taxable income as a couple would need to be below $80,000.
The CSHCC will provide you with discounted pharmaceutical scripts along with a seniors supplement of $631pa which is deposited on a quarterly basis directly into your bank account.
It may be worth talking to a FIS (Financial Information Service) Officer at Centrelink to explore all of your options.
Cheers -Regan (FIS officer @ Centrelink)