Age pension changes: Keeping your super grandfathered

Key Points Deeming of super balances likely to see a drop in entitlements for many ‘Grandfathering’ allows existing recipients to stay under the old (more generous) rules Benefit of grandfathering can be easily lost if action not taken now In account-based pensions (ABPs) to be ‘deemed’ for the purpose of the Income Test, instead of qualifying for the traditional ‘deductible amount’ approach. Typically (although not always) the new rules will give you a worse result. An important element of the new rules is the ‘grandfathering’, which allows those in receipt of an ‘income support payment’ (for instance, the age...

In account-based pensions (ABPs) to be ‘deemed’ for the purpose of the Income Test, instead of qualifying for the traditional ‘deductible amount’ approach. Typically (although not always) the new rules will give you a worse result.

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