Centrelink assessment of income streams

The Government recently passed legislation which will change the way superannuation income streams are assessed for the Age Pension. In 

From 1 January 2015, new account-based superannuation pensions started on or after that date will have new deeming rates applied to these pensions. Those who commenced these pension before this date may be exempt from these changes under 'grandfathering rules'.

Whilst appearing quite straightforward these changes can have significance impact and can be complex.

We therefore refer to a number of articles that may assist in clarifying this issue. Alternatively please contact use for consideration on your situation or arrange a meeting with a Centrelink Financial Information Service (FIS) officer.

References:

The impact of deeming rule changes on Centrelink benefits - Money Management article 3/6/2014

Centrelink assessment of income streams - Financial Planning Association (FPA) article 1/5/2014. 

Start Planning! New income test rules mean less Age Pension - SuperGuide article 28/4/2014.

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