Australian Aged Pension

[keithpa]

22 hours ago, GTgrizzly said:

Sorry mate, but your info in incorrect

I am 16 days off retirement and just been through all this in the last month

I have more than $157,569 in my super and so long as I don't use it, it will not effect my pensions

I went and sat in there office and was given this info, not just something I read

May have been mentioned before, dunno, not been reading all the garbage. One comment though, What if you only draw the principal , ie, your contributions of your  super,. and not the interest? Dont think that will affect what OAP u can get. Check it out.

[ELVIS123456]

6 hours ago, halloween said:

10 weeks after I applied for OAP and no decision as of yet, but the "your application has progressed" messages every 5 days have now stopped.

I have had 3 people tell me that their OAP took 6 months after application before payment began, back payment was made but allegedly this is at CL discretion (???).

The question is, do I live on my savings (assuming I have enough) or continue working after my retirement party? If I continue to work, will this income be ignored by CL or treated as income while (not) receiving OAP? If the latter, my current income of $1600/fn would then be reduced to <$700 after tax and pension reduction ($80 tax in first $400, then $240 tax and $600 pension reduction on further $1200).

Can't find anything on CL material re late pension payment, obviously they don't want to discuss their incompetence on application processing in the time they have allotted.

BTW tried raising this on CL website. Before you could possibly type the above, the session times out. How convenient.

Mate - I read somewhere that you can apply in advance (before eligible), so I checked it out. A person can lodge an application for OAP up to 13 weeks in advance of their age eligibility date. So I guess that means it can take that long to approve - and therefore maybe in a few weeks they will answer you.

 

Assuming your date of eligibility (age) occurs soon, I would assume that this is the date that you would be backdated to if approval is granted past that date. If you are already age eligible, then the payment start date should be the date your application was 'first processed' - this is not the date you lodged it - it is the date it was assessed and accepted as a 'valid' application. 

 

Therefore, if the date you are started on OAP occurs before you finish work, then any income you get after that date will affect how much OAP you are entitled to get if over the maximum - and you may have to pay some back (by having payments reduced). Bugger.

 

Best advice I can think of is to try and call CLink as soon as you get an answer.  If you call them now and ask "what if ............"  they will say they cannot answer hypotheticals. And if you ask "when will........" they will say that the decision is not theirs and it shouldnt be too long (a separate section who dont talk to the public make all decisions).

 

Catch 22 by the look of it. Quit work in anticipation of approval and you may find that you are not approved, or that the payment start date is delayed. Keep working past eligible date and if approved, you will be earning money while receiving the OAP if/when it is backdated. Aint they just grand?

 

[GTgrizzly]

7 hours ago, halloween said:

10 weeks after I applied for OAP and no decision as of yet, but the "your application has progressed" messages every 5 days have now stopped.

I have had 3 people tell me that their OAP took 6 months after application before payment began, back payment was made but allegedly this is at CL discretion (???).

The question is, do I live on my savings (assuming I have enough) or continue working after my retirement party? If I continue to work, will this income be ignored by CL or treated as income while (not) receiving OAP? If the latter, my current income of $1600/fn would then be reduced to <$700 after tax and pension reduction ($80 tax in first $400, then $240 tax and $600 pension reduction on further $1200).

Can't find anything on CL material re late pension payment, obviously they don't want to discuss their incompetence on application processing in the time they have allotted.

BTW tried raising this on CL website. Before you could possibly type the above, the session times out. How convenient.

Just a hint on the session timing out mate

I had the same issues as you

Type it out first on a word document them open the session and copy and paste it

It takes about 3 seconds that way

Hope this helps

Cheers

Geoff

[ELVIS123456]

1 hour ago, keithpa said:

May have been mentioned before, dunno, not been reading all the garbage. One comment though, What if you only draw the principal , ie, your contributions of your  super,. and not the interest? Dont think that will affect what OAP u can get. Check it out.

If someone has money in Super when they get the OAP,  then that amount affects the OAP in two ways - as an Income and an Asset.  $150K would be deemed to earn about $4300 PA - which is below the allowed $4368 PA ($168 per fortnight).  As far as the assets test goes, $150K is well under the allowable amounts for both a homeowner and a non-homeowner ($253K and $456K). These are all for a single rate - not a couple.   

 

The good news if that when withdrawals are made from Super (assuming a standard taxed Super arrangement) they dont count that towards income, as that would be 'double dipping' by Clink.  However, this only applies if it is small amounts and for 'living expenses' - if you withdraw a large amount to buy a new expensive car or a big world trip or holiday home etc., CLink can determine that amount (or part of that amount) to be counted as income.  This area, like so many others, is a 'moving target' and there is no definitive set of 'determinations' as to what constitutes a 'living expenses' and what is a 'reasonable amount' - it is (yet again) a case by case decision within broad parametres. Best advice I have got is that up to about $4 or $5K is OK, as long as it doesnt sit in a bank account for a lengthy period. I believe that the amount of Super is 'adjusted' annually by CLink - unless an OAP recipient seeks a review and change.

 

[David Walden]

On 4/21/2018 at 2:50 PM, LosLobo said:

 

None so blind as those who refuse to see.....hmmm!

 

This post has more misleading information than you can shake a stick at.

 

As from 1 January 2015, the rules for new OAP applications changed.

 

In 100% of cases all financial investment is deemed and is income.

 

If you are single and own a house or not, you cannot get the full AOP if you have financial investments of more than $157,569 (for which $4,368 is deemed as annual income).

 

Maybe what happened in your past is not relevant to present readers anymore.

If you are single and own a house or not, you cannot get the full AOP if you have financial investments of more than $157,569 (for which $4,368 is deemed as annual income.  (Quote from above.)

 

  This comment is complete and utter rubbish.  You must have some other job or family trust income or assets or interest in some other business or job which you are not disclosing to people on this site.  Maybe an allocated pension from a Govt super fund.   I say again now for the 12th time if you have assets and only assets to the value of Aus $456,750  and you are single and do not own a house and you qualify by age you will receive the Australian Aged Pension at the time you qualify... Read the link.  I have put it up 12 times already...give it a break...if as you say you got that information from a Centrelink Officer then that person is incorrect...period

[GTgrizzly]

5 minutes ago, GTgrizzly said:

Just a hint on the session timing out mate

I had the same issues as you

Type it out first on a word document them open the session and copy and paste it

It takes about 3 seconds that way

Hope this helps

Cheers

Geoff

Another suggestion as well mate

Go into there office don't ring, they can fob you off that way

I had to go in and take my proof of super amount with me, if I didn't ..no pension

I went in, spoke to a woman about my super .. she tells me that so long as I don't draw on it, it will not affect my pension

She then took me to a computer and stepped me through my OAP application while I was there 

Its quite simple when you know what your doing ( I didn't ), mine was done there and then

I have 14 days to go to retirement age ( 09-05-2018 ) so will keep you all posted on how it all goes for me

Cheers

Geoff

[LosLobo]

3 hours ago, tink2mutt said:

David is correct in what he says.

 

If you go to the Centrelink pension calculator here:

 

http://www.yourpension.com.au/APCalc/#CalcForm

 

and input $450,000 in assets for a single non home owner it tells you that you are entitled to the full pension. You can even print the evidence!!

 

Problem solved.

Try these settings in your calculator... for $157,570 in Financial Investments.....

 

+Marital and Home Status

Single Non Home Owner

+Investments Deemed by Centrelink...

Allocated Pensions and Annuities

157,570

 

Do you get less than $908/fn?.......which is the full pension.

Y/N?

QED......

 

[LosLobo]

39 minutes ago, David Walden said:

If you are single and own a house or not, you cannot get the full AOP if you have financial investments of more than $157,569 (for which $4,368 is deemed as annual income.  (Quote from above.)

 

  This comment is complete and utter rubbish.  You must have some other job or family trust income or assets or interest in some other business or job which you are not disclosing to people on this site.  Maybe an allocated pension from a Govt super fund.   I say again now for the 12th time if you have assets and only assets to the value of Aus $456,750  and you are single and do not own a house and you qualify by age you will receive the Australian Aged Pension at the time you qualify... Read the link.  I have put it up 12 times already...give it a break...if as you say you got that information from a Centrelink Officer then that person is incorrect...period

 

John the misinformation I was referring to was when you stated :

 

"in 99% of cases forget the income or deeming matters" and "you will be able to have assets of $253.000 approx. Invested, super etc. you name it. "

 

I am pleased that you have realised the error of your ways and are no longer pushing this.

 

I am still waiting for you to admit that my above quote is factual.....

[David Walden]

1 hour ago, ELVIS123456 said:

If someone has money in Super when they get the OAP,  then that amount affects the OAP in two ways - as an Income and an Asset.  $150K would be deemed to earn about $4300 PA - which is below the allowed $4368 PA ($168 per fortnight).  As far as the assets test goes, $150K is well under the allowable amounts for both a homeowner and a non-homeowner ($253K and $456K). These are all for a single rate - not a couple.   

 

The good news if that when withdrawals are made from Super (assuming a standard taxed Super arrangement) they dont count that towards income, as that would be 'double dipping' by Clink.  However, this only applies if it is small amounts and for 'living expenses' - if you withdraw a large amount to buy a new expensive car or a big world trip or holiday home etc., CLink can determine that amount (or part of that amount) to be counted as income.  This area, like so many others, is a 'moving target' and there is no definitive set of 'determinations' as to what constitutes a 'living expenses' and what is a 'reasonable amount' - it is (yet again) a case by case decision within broad parametres. Best advice I have got is that up to about $4 or $5K is OK, as long as it doesnt sit in a bank account for a lengthy period. I believe that the amount of Super is 'adjusted' annually by CLink - unless an OAP recipient seeks a review and change.

 

This is also rubbish.  Any money within the asset threshold is treated the same as if it is money in a bank account providing you have retired.  It is now your money, tax has been paid on it.  You can deduct what you like at anytime you want.  You need to advise Centrelink you have done this so they know you are not trying to scam them by divesting your assets especially if you are over the threshold.  You can take the whole $456,750 of asset and put it under the carpet as long as you advise Centrelink,  If you want to do this it will not affect your pension.  You can give it all away if you like but Centrelink will only allow you to divest yourself of $10,000 per year or $30,000 spread  the next 5 years,  you will still have $426,750 in assets.  If you give it away say $200,000 of you assets so you can improve you pension Centrelink will not allow this and will still deem that it is a lone to the recipient and an asset.  If you are under the asset threshold all doesn't matter much.  If your assets are $656,750 and you give away $200,000 to bring you assets down to $456,750  so you can get the full pension they will assess this as a gift and still an asset even though you have given it away.  You divested yourself of $200,000 to improve your pension payments.  This will not work.  Centrelink will not allow you to divest yourself of assets to improve your pension payments.  Giving money away, the limit as I've said is $10,000 per year or $30,000 now for the next 5 years...if you give away the $200.000 Centrelink will asses you account as still having $656,750 less the $30,000 gift making it $626,750 even if your super fund or bank account stand at $456,750.  Your pension will still be over the limit by $170,000. ..you get nothing or very little.

[David Walden]

43 minutes ago, LosLobo said:

 

John the misinformation I was referring to was when you stated :

 

"in 99% of cases forget the income or deeming matters" and "you will be able to have assets of $253.000 approx. Invested, super etc. you name it. "

 

I am pleased that you have realised the error of your ways and are no longer pushing this.

 

I am still waiting for you to admit that my above quote is factual.....

The $253,000 threshold amount I've quoted is if you own a house and live in it.  For single people who do not own a house the limit is $456,750.   I'm beginning to forget it all but is this now the 13th or 14th time I quoted this from the official Centrelink web site? 

[LosLobo]

9 hours ago, halloween said:

10 weeks after I applied for OAP and no decision as of yet, but the "your application has progressed" messages every 5 days have now stopped.

I have had 3 people tell me that their OAP took 6 months after application before payment began, back payment was made but allegedly this is at CL discretion (???).

The question is, do I live on my savings (assuming I have enough) or continue working after my retirement party? If I continue to work, will this income be ignored by CL or treated as income while (not) receiving OAP? If the latter, my current income of $1600/fn would then be reduced to <$700 after tax and pension reduction ($80 tax in first $400, then $240 tax and $600 pension reduction on further $1200).

Can't find anything on CL material re late pension payment, obviously they don't want to discuss their incompetence on application processing in the time they have allotted.

BTW tried raising this on CL website. Before you could possibly type the above, the session times out. How convenient.

Yes, full assessment of your application can take from 3 to 6 months.
 
There are no guarantees that your application will not be rejected and therefore no backpay.

 

Don't know anything about not getting backpay if you are successful in your application.

 

If you have done your due diligence on your eligibility I would plan on getting it.

 

Maybe you could get some definitive answer by making an appointment with a Centrelink FIS officer.

 

While you are waiting...to live on savings or continue working? That old thai expression comes to mind.....up to you!

 

Your income will not be ignored. You will need to advise Centrelink within 14 days of any change in circumstances from your application.

 

I agree with your pension calculation if you included your $250 work bonus, have no financial investment deeming income and are low on non financial assets. 

 

[LosLobo]

3 hours ago, ELVIS123456 said:

If someone has money in Super when they get the OAP,  then that amount affects the OAP in two ways - as an Income and an Asset.  $150K would be deemed to earn about $4300 PA - which is below the allowed $4368 PA ($168 per fortnight).  As far as the assets test goes, $150K is well under the allowable amounts for both a homeowner and a non-homeowner ($253K and $456K). These are all for a single rate - not a couple.   

 

The good news if that when withdrawals are made from Super (assuming a standard taxed Super arrangement) they dont count that towards income, as that would be 'double dipping' by Clink.  However, this only applies if it is small amounts and for 'living expenses' - if you withdraw a large amount to buy a new expensive car or a big world trip or holiday home etc., CLink can determine that amount (or part of that amount) to be counted as income.  This area, like so many others, is a 'moving target' and there is no definitive set of 'determinations' as to what constitutes a 'living expenses' and what is a 'reasonable amount' - it is (yet again) a case by case decision within broad parametres. Best advice I have got is that up to about $4 or $5K is OK, as long as it doesnt sit in a bank account for a lengthy period. I believe that the amount of Super is 'adjusted' annually by CLink - unless an OAP recipient seeks a review and change.

 

 

Moving any super/pension lump sum to a bank account would not change your deeming, income or pension.

 

Whereas if you bought any car the non financial asset would not be deemed and your pension may actually increase depending on the value of your financial and non financial assets.

 

A holiday would reduce your deeming and income and may increase your pension.

 

And if applicable, you could also use your lump sum to buy the marital home or pay off your mortgage to reduce your financial assets to $157,569 and get a full pension ...isn't that right John?

[halloween]

9 hours ago, ELVIS123456 said:

Mate - I read somewhere that you can apply in advance (before eligible), so I checked it out. A person can lodge an application for OAP up to 13 weeks in advance of their age eligibility date. So I guess that means it can take that long to approve - and therefore maybe in a few weeks they will answer you.

 

Assuming your date of eligibility (age) occurs soon, I would assume that this is the date that you would be backdated to if approval is granted past that date. If you are already age eligible, then the payment start date should be the date your application was 'first processed' - this is not the date you lodged it - it is the date it was assessed and accepted as a 'valid' application. 

 

Therefore, if the date you are started on OAP occurs before you finish work, then any income you get after that date will affect how much OAP you are entitled to get if over the maximum - and you may have to pay some back (by having payments reduced). Bugger.

 

Best advice I can think of is to try and call CLink as soon as you get an answer.  If you call them now and ask "what if ............"  they will say they cannot answer hypotheticals. And if you ask "when will........" they will say that the decision is not theirs and it shouldnt be too long (a separate section who dont talk to the public make all decisions).

 

Catch 22 by the look of it. Quit work in anticipation of approval and you may find that you are not approved, or that the payment start date is delayed. Keep working past eligible date and if approved, you will be earning money while receiving the OAP if/when it is backdated. Aint they just grand?

 

Tried to apply 26 weeks before, sent home. Applied exactly 13 weeks before and was given an expected date of approval/decision some 7 weeks later. Now 10+ weeks, OAP pension date <3 weeks away.

If CL sets earliest application date at -13weeks, they should have the staff/resources to process in that time or reset the application date to suit. At the very least, they should have available documentation of your rights, procedures and rules that apply to delayed payment.

 

A recent news article here about young people being paid ~$18/h, $5 less than the award wage, with the employer facing severe penalties. CL is asking, and forcing some, to work for far less, and this is considered normal?

[sceadugenga]

Have you checked back with them?

Sometimes the squeaky wheel...

[halloween]

3 minutes ago, sceadugenga said:

Have you checked back with them?

Sometimes the squeaky wheel...

Currently working 6 days/week so difficult to phone given their response times - but they have announced 1000 new CL call centre operators to be employed. Have tried e-mail enquiries, on 2 different subjects, ~3 weeks ago, still no response. You have to figure they are just as short staffed as phone operators.

Somebody may know the answer to one - will they send the access code for MyGov a/c to a Thai phone number?

 

[sceadugenga]

Not in my experience but there was a way round it, it's a while back now so I'm not sure how I did it... maybe rang them up...

 

[halloween]

54 minutes ago, sceadugenga said:

Not in my experience but there was a way round it, it's a while back now so I'm not sure how I did it... maybe rang them up...

 

Some years back I had to contact them, I called and arranged a call back. Whether you can do that to arrange an access code..........

[tink2mutt]

15 hours ago, LosLobo said:

Try these settings in your calculator... for $157,570 in Financial Investments.....

 

+Marital and Home Status

Single Non Home Owner

+Investments Deemed by Centrelink...

Allocated Pensions and Annuities

157,570

 

Do you get less than $908/fn?.......which is the full pension.

Y/N?

QED......

 

I recalculated with the following parameters:

 

Single non home owner status

 

Investments deemed by Centrelink

Superannuation $450,000

 

The calculator deemed an income of $13,872

 

The result was a pension of $18,502 per annum which equates to $712 per fortnight.

 

Then I tried $400,000 on the same parameters:

 

The deemed income was $12,247

 

And the pension entitlement was $ 19,315 per annum which equates to $ 743 per fortnight.

 

[LosLobo]

20 minutes ago, tink2mutt said:

I recalculated with the following parameters:

 

Single non home owner status

 

Investments deemed by Centrelink

Superannuation $450,000

 

The calculator deemed an income of $13,872

 

The result was a pension of $18,502 per annum which equates to $712 per fortnight.

 

Then I tried $400,000 on the same parameters:

 

The deemed income was $12,247

 

And the pension entitlement was $ 19,315 per annum which equates to $ 743 per fortnight.

 

Thanks for that!

 

So having a financial investment ie superannuation of $450,000 would return less than the full pension, would you agree?

 

Is there anything that you would like to recant from your previous post?

 

By the way that calculator is a fantastic resource, it models the current OAP legislation perfectly and has links to all the relative Centrelink information, I hope all the forum members take advantage of it!

 

[tink2mutt]

On 4/20/2018 at 8:04 AM, David Walden said:

None so blind as those who refuse to see...I am only talking about people who have reached retirement age, applied for the pension and have retired and have been granted the pension.  (Not DSP,  not Work start, not child care rebates etc etc. only the aged pension) very few have a job after retirement ( WAS AN EXCEPTION FOR 8 YEARS DRIVING A SCHOOL BUS)....in 99% of cases forget the income or deeming matters.  Your assets level is determined mostly if you own a house or not...if you are  single and  own a house you live in it, it will not be an asset ( by Centrelink) and you will be able to have assets of $253.000 approx. Invested, super etc. you name it. The house does reduce your asset level entitlements.  If you are single and don't have a house you will receive the aged pension and you can have assets of (for the 10th time)  I say it,  I say it,  I say it again for at least the 10th time...are you ready for it...$456,750.  Really give it a break.  You are likely just confusing the other 10,000 or so people on this site that maybe following these posts.   You are certainly not confusing me.  

 

16 hours ago, LosLobo said:

Try these settings in your calculator... for $157,570 in Financial Investments.....

 

+Marital and Home Status

Single Non Home Owner

+Investments Deemed by Centrelink...

Allocated Pensions and Annuities

157,570

 

Do you get less than $908/fn?.......which is the full pension.

Y/N?

QED......

 

 

3 minutes ago, LosLobo said:

Thanks for that!

 

So having a financial investment ie superannuation of $450,000 would return less than the full pension, would you agree?

 

Is there anything that you would like to recant from your previous post?

 

By the way that calculator is a fantastic resource, it models the current OAP legislation perfectly and has links to all the relative Centrelink information, I hope all the forum members take advantage of it!

 

 

 

Yes - point taken. I recant my comments regarding getting the full pension with $450k in super. You would get around $700 per fortnight instead of $900.

 

You learn something new every day and I like to think I learned something today. This issue is very important for me as I am wrestling with the decision between serving the two years back in Australia to get the (not full) pension or just living on my super and forget the pension. I will keep thinking about it.

 

Cheers.

[LosLobo]

10 minutes ago, tink2mutt said:

 

 

 

 

Yes - point taken. I recant my comments regarding getting the full pension with $450k in super. You would get around $700 per fortnight instead of $900.

 

You learn something new every day and I like to think I learned something today. This issue is very important for me as I am wrestling with the decision between serving the two years back in Australia to get the (not full) pension or just living on my super and forget the pension. I will keep thinking about it.

 

Cheers.

Their is more to come, interest rates are at their lowest in history now.

 

Canberra is waiting for them to rise and are poised to raise deeming rates.

 

Try a scenario where deeming rates double, you would be amazed!

[sceadugenga]

My ex-wives took care of any assets and spare cash I had, deeming is not something I've had to bother about.

[ELVIS123456]

18 hours ago, David Walden said:

This is also rubbish.  Any money within the asset threshold is treated the same as if it is money in a bank account providing you have retired.  It is now your money, tax has been paid on it.  You can deduct what you like at anytime you want.  You need to advise Centrelink you have done this so they know you are not trying to scam them by divesting your assets especially if you are over the threshold.  You can take the whole $456,750 of asset and put it under the carpet as long as you advise Centrelink,  If you want to do this it will not affect your pension.  You can give it all away if you like but Centrelink will only allow you to divest yourself of $10,000 per year or $30,000 spread  the next 5 years,  you will still have $426,750 in assets.  If you give it away say $200,000 of you assets so you can improve you pension Centrelink will not allow this and will still deem that it is a lone to the recipient and an asset.  If you are under the asset threshold all doesn't matter much.  If your assets are $656,750 and you give away $200,000 to bring you assets down to $456,750  so you can get the full pension they will assess this as a gift and still an asset even though you have given it away.  You divested yourself of $200,000 to improve your pension payments.  This will not work.  Centrelink will not allow you to divest yourself of assets to improve your pension payments.  Giving money away, the limit as I've said is $10,000 per year or $30,000 now for the next 5 years...if you give away the $200.000 Centrelink will asses you account as still having $656,750 less the $30,000 gift making it $626,750 even if your super fund or bank account stand at $456,750.  Your pension will still be over the limit by $170,000. ..you get nothing or very little.

This is totally incoherent rubbish.  I recommend everyone completely ignore anything this guy says. Please take no notice of anything - he is wrong all the time and just argues with everyone. I have had enough and I will be blocking him/her/it from now on - recommend any genuine does the same.

 

[ELVIS123456]

15 hours ago, LosLobo said:

 

Moving any super/pension lump sum to a bank account would not change your deeming, income or pension.

 

Whereas if you bought any car the non financial asset would not be deemed and your pension may actually increase depending on the value of your financial and non financial assets.

 

A holiday would reduce your deeming and income and may increase your pension.

 

And if applicable, you could also use your lump sum to buy the marital home or pay off your mortgage to reduce your financial assets to $157,569 and get a full pension ...isn't that right John?

All wrong.  I suggest you read/study up the following:

https://www.humanservices.gov.au/individuals/enablers/income-test-pensions

https://www.humanservices.gov.au/individuals/enablers/assets-test-age-pension

 

[ELVIS123456]

10 hours ago, halloween said:

Tried to apply 26 weeks before, sent home. Applied exactly 13 weeks before and was given an expected date of approval/decision some 7 weeks later. Now 10+ weeks, OAP pension date <3 weeks away.

If CL sets earliest application date at -13weeks, they should have the staff/resources to process in that time or reset the application date to suit. At the very least, they should have available documentation of your rights, procedures and rules that apply to delayed payment.

 

A recent news article here about young people being paid ~$18/h, $5 less than the award wage, with the employer facing severe penalties. CL is asking, and forcing some, to work for far less, and this is considered normal?

I hear you mate - and when you try to call CLink for answers ...... well this best sums that up.

 

 

[ELVIS123456]

3 hours ago, tink2mutt said:

 

 

 

 

Yes - point taken. I recant my comments regarding getting the full pension with $450k in super. You would get around $700 per fortnight instead of $900.

 

You learn something new every day and I like to think I learned something today. This issue is very important for me as I am wrestling with the decision between serving the two years back in Australia to get the (not full) pension or just living on my super and forget the pension. I will keep thinking about it.

 

Cheers.

Mate, the way I saw it and why I decided to come back and get the OAP, was that if I get the OAP then that is worth about $400K over 20 years, and given most people live that long (and I hope I do), then it is worth it.

 

[ELVIS123456]

[David Walden]

46 minutes ago, ELVIS123456 said:

This is totally incoherent rubbish.  I recommend everyone completely ignore anything this guy says. Please take no notice of anything - he is wrong all the time and just argues with everyone. I have had enough and I will be blocking him/her/it from now on - recommend any genuine does the same.

 

Now for the 15th time please refer to Centrelink threshold for aged pension recipients. that is those that are over 65.5 Y/O and have been granted the pension..  If you are not being paid the full pension there is something you are not disclosing to people on this site which will effect you asset threshold and your payments.  Maybe you do own half a house your  estranged wife lives in, if your not living in it your half. becomes an asset.  I only give advice to issues that apply to my situation,..look at the Centrelink web site "asset thresholds for Australian Aged Pension Recipients".  It's not my opinion it is what is written there..."look and ye shall see" and bless you.

[tink2mutt]

29 minutes ago, ELVIS123456 said:

Mate, the way I saw it and why I decided to come back and get the OAP, was that if I get the OAP then that is worth about $400K over 20 years, and given most people live that long (and I hope I do), then it is worth it.

 

Yes. I think you are right. Even if it is reduced to $19,000 per annum it still makes a big difference.

[Ban Phe Dezza]

On 1/17/2008 at 2:19 PM, Mason45 said:

My Thai wife will be 54 yo when I apply for the OAP, would she be deemed to be earning a living at that age, my wife hasn't done one days paid work since I met her five years ago.

In a nut shell yes plus she would have to be Australian resident for 35 years these days to get a full pension also you would have had to be resident in Australia for the prior 2 years or stay for two years before being eligible to come back to thailand

BTW the rate in your case is the married rate

   

From 20 March 2018	From 20 September 2017	Increase

$622.80

$613.60

$9.20 pf