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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.
What happens when both are on the age pension ?
Hi Peter, thanks for reaching out! If both you and your partner are already on the Age Pension then this means the balances of all of your and their assets will be be taken into account when calculating your Age Pension. Therefore whether you decided to split the money 50/50 between the two of you or put it all in one person’s name it will make no difference as it will be combined to equal the same total amount.
What happens if the senior partner by 15 years has had no super or income for years and doesn’t receive a pension because the other partner earns income over the cut off rate and whose wage supports both? Would option B still work?
Hi Kate, thanks for getting involved in the conversation! Technically yes you could still utilise option B however if the younger partner’s income exceeds the threshold as you have said, then the older partner would still be ineligible based on the combined income being too high.
What if husband and wife are over 75?
Hi John. You can still make downsizer contributions after age 75.
can you consider singles, especially school teachers or nurses, historically mostly ladies, downsizing?