Eureka Report correspondence

On changes to the age pension assets test.

I have just read the article on the changes to the age pension. The increase to the asset test is an illusion. Deeming means that the full pension is only available at around $250,000 for a couple homeowner. Plus when you recognise that the deeming rates are low, any rise in interest rates will put further pressure on the threshold for pension eligibility. A cynic would suggest that the rise in the asset threshold is a con to get age pensioners to declare assets and then they would get caught by the income test.

- Gordon

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