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James Coyle

James has over 35 years experience in financial services with particular expertise in two of the key components of retirement finance - Superannuation and the Age Pension. He is passionate about providing the guidance and support that can help older Australians enjoy their best possible retirement. He lives in regional Victoria surrounded by dogs and chooks.

10 Comments

Gary Rowbotham on July 15, 2019 at 5:55 pm

I am on a Veteran Affairs full TPI pension + Centre link Disability Support Pension. Do these changes to the deeming rate have any affect to my current rates of payment?

Allyson Bailie on July 17, 2019 at 3:35 pm

Hi Gary
New deeming rates apply to the Age Pension but you will need to speak with the DVA and Centrelink regarding whether these changes impact your current payments.
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Leah Sheridan on July 15, 2019 at 6:25 pm

Can you recommend a bank or institution where I can deposit my $85000 @3% interest?

Allyson Bailie on July 17, 2019 at 3:25 pm

We are all still looking for the 3% rate Leah! Perhaps if you find it you will share back on this page – thank you
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- Pat on July 21, 2019 at 12:43 pm
  
  Good day,
  
  Re Deeming
  I read your grid and can see, BUT please explain..what happens after that calculation? Do CL keep all that or what can you earn also, what about 50o)o rate?
  Also looking at bank accounts say you have 20,000 and owe 2000 in a credit card at that date. Do they take it off balance? How often should we update bank records. I am 71 just finished work. Thanks
- Allyson Bailie on July 26, 2019 at 9:43 am
  
  Hi Pat
  You need to keep Centrelink up to date with changes to your personal and financial circumstances. You can do this easily via your myGov account.
  With regards to credit card debts, Centrelink do not count this or deduct it when calculating your eligibility for the Age Pension.
  Sorry I am not too sure what you mean by your first point. Give us a call on 1300 527 727 and one of our Age Pension Specialists can help work through this question to resolve.
  Hope this helps.

Di on July 16, 2019 at 6:45 pm

More confused… thanks

Allyson Bailie on July 17, 2019 at 2:59 pm

Hi Di
Sorry for causing you more confusion. Maybe it would be better to give us a call on 1300 527 727 and one of our Age Pension Specialists can try an explain this more simply and tailor to your personal circumstance.
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Greg Richardson on September 5, 2019 at 1:46 pm

Hi,
My father is in a nursing home and is charged an additional amount each day based on his deemed investments. Nothing has changed yet (5/9/2019) as to a reduction in his additional daily fee. Will this be adjusted by end of September and a refund be forthcoming ?

John on December 9, 2019 at 12:17 pm

I read on the DHS website that CL use deeming for both assets and income, including income streams from an account based pension. I understand how deeming applies to the asset value of my super, but how is deeming applied to the income stream I draw down from the super? Can you advise?

Thanks…John