If you are getting ready for retirement, you may well be hoping to receive at least some Age Pension to supplement your investment income. If you are already retired and receiving the Age Pension then you are probably hoping you can hang on to as much of it as possible for as long as possible. If you are already retired and you are NOT receiving any Age Pension then you probably wish you could at least get some - if only to reap the additional benefits that come with it.
At Financial Planning QLD, we’ve seen how changes in Government policy, action, and rhetoric over recent years have effectively reduced the Age Pension benefits available to many retirees. It has also meant that many about to retire over the next few years are going to receive less Age Pension than they thought they would. Similarly, there will be many people retiring over the next few years who will receive NO Age Pension at all when they thought they would at least receive some.