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What will you do when your pension drops or stops completely in January 2017?

What will you do when your pension drops or stops completely in January 2017?

We have received a significant number of calls in response, many of whom were just not prepared for the reduction in their income.

Once your assets exceed adjusted thresholds, the Pension will then drop by $3.00 per fortnight for every $1,000 that your assets exceed the thresholds below, instead of reducing by $1.50 per fortnight currently.

 

Full Pension- pension starts to reduce when assets exceed these limits

No Pension cuts out when assets exceed these limits

Single- Home owner

$250,000

$547,000

Single Non- Home owner

$450,000

$747,000

Couple-Homeowner

            $375,000

            $823,000

Couple -Non Homeowner

            $575,000

            $1,023,000

 

Don't wait until January to do something about it, prepare yourself now. 

If you are concerned, call our Financial Advisor Michael Levene on (02) 8814-7307 or register your interest in a seminar/presentation in May/June.

Posted: 29-Apr-2016. Author: Eric Hiam

 

 
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