Okay, this is for couples trying to boost their age pension with Centrelink when there’s a few years age gap. Now the secret here is that when they’re counting your assets, if your partner is less than 67 and their money is in super accumulation, it does not count as an asset. So they could have potentially retired at say 60, put it into a retirement account, drawing down income from that account, they get to 65, let’s say you’ve turned 67, you want to get some age pension Centrelink, why not?
So if they leave it in the retirement fund, that will count as an asset because all assets are assessed equally for couples, so it doesn’t matter if it’s in your name or their name, it will be counted if it’s in a retirement account.
But if they’re less than 67 and they potentially can consider moving that back from retirement into super accumulation again, if you’re with a decent super fund that’s pretty easy to do, if you’re with a crappy super fund that’s going to be a right pain potentially. But anyway, so if your main factor is to get more age pension and this is a strategy that you can definitely consider, should be carefully done and thought through and take some advice on this one because it’s very complex, but it’s a strategy that we employ all day long, it’s a very common strategy but you have to do it right.
