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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.
Dear Retirement Essentials.
I enjoy reading your informative segments I receive by emails.
I
‘m currently 67 and on a partial Age Pension. I also receive a Defined Benefit Pension.
I cant figure out How is the Income Stream from a D.B pension assessed for Age Pension.
I would appreciate your help.
Kind Regards
Gerry
Hi Gerry, thank you for reaching out for further assistance. Regarding defined benefits, Centrelink assess the gross payment minus your deductible amount. Your deductible amount is also your tax-free component but if you are unfamiliar with either of these terms you can contact your provider and they will clarify it for you. You can request what is known as a “Centrelink/DVA Schedule” from your provider which will detail the figures.
I read with interest your article about Retirement Income Streams.
I was amazed that there was no mention of EquityRrelease borrowing (reverse mortgage) particularly in light of the comments of the recent report on retirement incomes.
I’m currently 67 and working FT. Can i supplement my salary by drawing down from my super at say $2kpm? I currently have have, almost, the max amount allowed Sal Sac to my super. Suggestions?
Hi Ray, thank you for reaching out for further assistance. We will send you an email separate to this comment with details regarding our Retirement Advice Consultation Service which would be the best forum to discuss your situation.
Can I move overseas and live there permanently while still receive a full pension from the government when I am retired at age 67.
Hi Ben, you can live overseas and still receive an Age Pension however you may not be entitled to the full amount. To fully understand your situation and answer your question it would be best to speak in a more confidential forum. We will send you an email separate to this comment with further details on how we could assist you.