The new Age Pension rates, taking effect from 20 March 2013 (and applicable until 19 September 2013) are set out in the tables below. A single person eligible for the full Age Pension in Australia can now expect an annual Age Pension income (including supplement, and Clean Energy Supplement) of … [Read more...]
The new Age Pension rates, and thresholds, taking effect from 20 September 2009 are set out in the tables below. The Age Pension Bonus amounts also increase. Note that ‘pf’ stands for ‘per fortnight’. Age Pension - Fortnightly Amounts Adult Pension Basic … [Read more...]
Hurry, hurry! Deadline approaching! If you’re working and you’re aged 65 or over (or 63.5 or over if you’re a female), or will turn 65 (or 63.5 if a female) before 20 September 2009, then you need to read this article, and the Q and As following this article. If you fall into this age … [Read more...]
Q: I turn 65 in Sept 2009 and have decided to keep working full time, hopefully until I'm 70. I have submitted the form to Centrelink indicating my decision to claim the Pension Bonus Scheme (PBS). Do I qualify for the PBS under current legislation, and if I work for the next 5 years am I entitled … [Read more...]
Increase of $32.49 per week for single Age Pensioners, and $10.14 for couples (see article ‘$32 per week increase in single Age Pension’) Age Pension age to increase to 67 from 2023 (see article ‘Age Pension age set to increase to 67’) New index, the Pensioner and Beneficiary Living Cost … [Read more...]
In what must be a Pinocchio moment (of which there are many – see this month’s THE SOAPBOX: Does the Government think we're stupid?), the Government is closing the Pension Bonus Scheme (PBS) to new entrants from 20 September 2009. The reason? The scheme is too complex and not meeting its … [Read more...]
Superannuation Concessional contribution cap cut to $25,000 from July 2009 Government co-contribution cut to $1000 from July 2009 ‘Lost’ account balances of less than $200 to be transferred to the ATO Superannuation pensions Gross tax-free superannuation income NOT be … [Read more...]
The halving of the Age Pension assets test taper rate, from $3 to $1.50 for every $1000 in assets above the threshold after September 20, 2007, now mean that many more Australians have become eligible for a part-age pension. Around 300,000 Australians became eligible for the Age Pension for the … [Read more...]
