There has been much talk about the superannuation changes that are now awaiting Royal Assent to be passed into law.

A lot of the talk has focussed on the fact that after age 60 all superannuation withdawals are tax free.

However one aspect of the changes that have been overlooked just a little is that of the change to the Age Pension assets test.  From September this year a homeowning couple will be able to have up to $780,000 in assets, and still receive a part age pension.  At the moment that cuts out at just over $500,000 of assets.

This is potentially a positive for:

• Those people who are retired with less than $780,000 in assets who will start to receive some age pension
• People thinking about ways of funding their upcoming retirement

For this last group, and if they are over 55 now, there are special income streams that they could start - even if they are working - to half the value of the assets in these income stream.  The most common of these income streams is a 'Term Allocated Pension'. 

Have a look into this as a matter of urgency - it could be a bit help to you.

Cheers

Scott