An investor’s guide to looming age pension changes

Act now and optimise your position before tougher asset test changes come into effect next January.

Summary: From January 1 2017 changes to the age pension assets test will come into effect. The rate that that the pension is reduced for every $1,000 above the upper assets threshold will go from 3.9 per cent per year to 7.8 per cent per year. How retirees respond to this will depend on their attitude to the age pension, but those with assets above the upper threshold  might consider drawing down more from their portfolios or bringing forward expenditure to reduce the effects of these new changes on their pension payments.


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