How ready are you to start your retirement planning? Or have you already started?We have set this quiz to help you assess the key facts you need to be mindful of when planning for your retirement. If you have already retired, do you know the answers to the questions in this quiz?When answering each question, ... Read more
Age Pension calculator: How much could you be eligible for?
Welcome to the SuperGuide Age Pension calculator. Using the calculator is easy. Enter your details in the calculator below (in the yellow blocks) and you will see an estimate of amount of Age Pension you may be eligible for. The Age Pension rates are those that apply from 20 March 2018 to 19 September 2018. You can ... Read more
Age Pension: Are you eligible for the Work Bonus?
If you choose to work while receiving the Age Pension, then you will be entitled to a Work Bonus. The Work Bonus operates so that the first $250 of employment income each fortnight is not counted towards the Age Pension income test. The Age Pension income test is one of 2 tests used to decide if you’re eligible for a ... Read more
Age Pension Bonus: Still available for registered Australians
If you’re still working and you were aged 65 or over (or 63.5 or over if you’re a female) before 20 September 2009, and you registered for the Age Pension Bonus by 30 June 2014, and you have not yet claimed the Age Pension, then this article applies to you. If this article applies to you, then on my calculations, you ... Read more
Australian Age Pension: 10 important facts you should know
Most Australians will be able to claim a PART or FULL Age Pension in retirement. A PART Age Pension is possible even when a person (or a couple), owns their own home and has several hundred thousand dollars in superannuation and other savings.Even if you are not planning to claim the Age Pension when you retire, ... Read more
Case study: I’m 53. Is it too late to save for my retirement?
Note: This article is updated periodically with the latest lifestyle/income data and latest Age Pension rates. The most recent data was released in December 2017 (for lifestyle costs up to September 2017), and for Age Pension rates, from September 2017. This case study was last updated February 2018.Q: I am 53 ... Read more
Retirement income: Want to live on $100,000 a year?
We receive hundreds of questions each week from readers, and some of those questions relate to how much money is needed to create a comfortable life in retirement. At SuperGuide, we regularly update our ‘how much super is enough’ articles and these articles cover scenarios for those seeking modest, comfortable or more ... Read more
The super challenge: At what age should I retire?
Selecting a retirement age, even if you plan to continue some form of work during retirement, can be a difficult decision. In some cases, individuals don’t get a choice about when to retire due to health issues, or due to redundancy in later years and then difficulty finding another job.Although life after work is ... Read more
Superannuation rules: What applies at different ages?
Compulsory superannuation contributions (Superannuation Guarantee) and voluntary superannuation contributions are an integral part of the federal government’s retirement income policy, along with the taxpayer-funded Age Pension.As an incentive for Australians to stash money away for 30 to 40 years (rather than ... Read more
Age Pension: Is my super benefit counted towards the assets test, or income test?
Q: Can you please confirm whether the assets held in a superannuation fund count towards the Centrelink assets test and income test?A: I can provide you with an overview of how superannuation benefits are treated by Centrelink for the purposes of the Age Pension rules, although you’ll need to check with Centrelink ... Read more
What assets count for the Age Pension assets test?
The Age Pension assets test is one of the tests that you must pass if you plan to claim the Age Pension. The Age Pension assets test involves 2 main thresholds, with the lower assets threshold determining if you will receive the FULL Age Pension and the higher assets threshold determining if you will receive the PART ... Read more
Australia not ready for Age Pension age of 70 years
The capacity of developed nations around the world to provide a decent taxpayer-funded old Age Pension is being tested constantly with increasing life expectancies, escalating health costs, mind-boggling energy costs, and in many cases, shrinking populations.Although Australia is fortunate (in economic terms) to ... Read more