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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.
Hi I’m retiring April 2023 I have $800000 in super and $150:000 in savings and term deposit. Not sure if I can receive part pension as well as part super.
Hi Peter. It will depend on a number of factors including if you are single or in a couple, homeowner or renter and and other income and /or assets you hold. The best way to find out is to use our eligibility calculator.
My husband has retired so we collect an amount from our super which is a pension payment.
He has now returned back to work for 25 hours per week but his employer can no longer deposit his super into his old super because the financial advisor has closed it so he can draw a pension from his super. We have looked at some super funds to deposit in but it’s seems complicated. He is not guarantee 25 hours. Will this effect as in anyway. Could you please suggest a super fund please?
Ok, I’m 63, I am not working I have a healthcare card. My husband is 67 and on a full pension. His super is $320,000.00 in a income stream, my super is $650,000.00 in accumulation mode. We can manage on his pension and income stream. Do I have to put my super into retirement mode when I reach retirement age in 4 years or can I leave it in accumulation mode, if I do not apply for a pension. Which we would not get anyway due to the combined amount of super.
Thanks for your time
Hi Susan. Yes you can leave your super in accumulation once you have reached Age Pension Age. It will at that point become assessable however for Age Pension eligibility as it is only excluded prior to you reaching Age Pension age. Your combined super does exceed the homeowners threshold for the Age Pension but there might be things you can do before you reach Age Pension age to improve your eligibility and understand more about super works in relation to the Age Pension.