Age Pension Australia - understand the rules and how to qualify

[@MunsamiGounder-ib4th]

People working after pension age it should be a TAX free work

[@TouringInWA]

I’m a ART member for 25 years. Nice podcast, keep it up. People are weary of Service Australia as we’ve been constantly told that age care is a burden. I’m not sure SA would tell the full story on what your entitlements are after working and paying taxes for decades. Governments are keen to keep minority groups happy but not the age people happy.

[@robertandrews1261]

Why is pension is not automatically for the ones who are eligible for it

[@sampuatisamuel9785]

Should taxes pay for millionaires? 😊

[@carlobucca]

I'm 70 but still a full time worker. l was as my friends led to believe that the old age pension was only accessible after one stopped working, apparently not the case, l could have applied three years ago for some benefits but was not notified or advised by Centrelink that as l had reached pension age l could apply why something which we are entitled to not made public, apart from the obvious? Why wasn't a formal letter sent to me three years ago advising that l could apply and now there is no recourse for entitlements lost

[@AustralianRetirementTrust]

Please contact www.servicesaustralia.gov.au/ directly for anything related to the Pension directly

[@eded5542]

Its very unfair and Centrelink is useless

[@omnifariousrelaxingmusic9172]

Apparenly if you wait until 70 to apply for pension the amount you get is something like 25% more per fortnight.... you might want to enquire about this. Could be a positive for you. Dont quote me on the exact percentage......

[@Briansunday-zw8wb]

Hi, why were no limits discussed? Thanks:)

[@AustralianRetirementTrust]

Hi! If you're concerned about limits concerning the Pension - please contact Centrelink directly - www.servicesaustralia.gov.au/who-can-get-age-pension?context=22526 Thanks! Henri @ ART

[@jeffreb55]

i didn't really understand having scenarios may of worked better. it seems to be that if you we ok with money and gathered assets throughout your life you get nothing.... again. i assume most people have super that are watching this and a few investments (A couple, combine assets $470,000) is very little in assets. Am i missing something

[@sampuatisamuel9785]

Maybe age pension is deemed a safety net. Hence those with assets and private income not deemed to need the financial assistance. 😊

[@jimhales40]

Like what other paper work is needed IDs? Passport?

[@chillikoala]

I think it's important to note that the aged pension is a safety net for Australians that need it. It will only cover a minimum standard of living. A healthy super balance at retirement is what we should all be aiming for if we have the means to achieve it. It's mind boggling whenever I hear or read about someone trying to dwindle down their assets and super (which might have been going well) before retiring, just so that they can qualify for a full age pension.

[@GeorgeMcphillips-v6n]

If art has invested funds in renewable energy projects and green energy projects then your safety net just isn’t there

[@PeterC245]

6 minutes before it gets to the point

[@Talktothehand.253]

Move the posts halfway through a match. Age pension from 60 for women and 65 for men and just as i hit my 60’s they change it. Can’t even die in peace without being taxed. Buying a plot for my grave is an asset? I guess in australia a forever home land package is expensive. 🙄

[@CryptoObserver-0]

That was very informative, thank you. However, I wish you would have added something on CryptoCurrency. Every broadcaster always mentions, shares, cash, assets etc... but no one specifically mentions crypto. Is this something that must be declared for pension eligibility? Could you pls confirm... thanks

[@AustralianRetirementTrust]

Hi! We frequently monitor the growth in cryptocurrencies and their behaviour. However, at this point, we have no plans to invest in bitcoin or other cryptocurrencies. As a super fund, we overwhelmingly invest in real and financial assets that generate reliable streams of income - dividends, interest, rent etc. - that can be accrued and reinvested on behalf of our members. At this stage of their development, cryptocurrencies are still highly speculative assets that are almost impossible to value in any fundamental sense and are traded on markets that are far from transparent. For further information on how Australian Retirement Trust invests, our Investment Reports provide a regular update on the economy and the market, along with the management and performance of our investment options: www.australianretirementtrust.com.au/investments/performance/reports Henri @ ART :)

[@jamescamo4374]

Why is Government excluded. Thy retire will millions of assets and still get the pension..

[@kerrybarnes7289]

its a game, and we are not in it

[@jimhales40]

Gidday I'm an Aussie expat living in Philippines 63 years old and I heard that once I turn 65 I have to reside in Australia for 2 years before I can claim the aged pension when I'm 67? Please give me some advice or information about this. Thank you

[@mikehenderson339]

I too want clarity on this mainly around if you have to live in Australia for 2 years or you can live in a country we have a pension agreement with.

[@pandemicoftheunvaccinated5367]

No, that's incorrect-you can apply for the aged pension 13 weeks out from your 67th birthday whilst overseas.Although, it's a stack more paperwork.

[@jimhales40]

@pandemicoftheunvaccinated5367 can you clarify what kind of other paper work is needed 🤔

[@mikehenderson339]

@pandemicoftheunvaccinated5367 cheers for that I guess I'll work it out closer to 67!

[@clivesutcliffe487]

I don't know where you got the two year rule from but it wasn't mentioned here. He said, "You've got to be 67 years of age or over. You have to be an Australian resident with at least 10 years residency in the country. Five of those have to be in a continuous period of time. You could be in and out for the rest. But at least 5 years continuous, 10 years total".

[@NeilC1963]

Good information. Would like to clarify what I understand in relation to superannuation held by partner under pension age. 62 with $400k in superannuation accumulation account. Partner is approaching 67 and going to apply for age pension. 62 retires and takes $100k from accumulation account (draws into savings). Assets test does not include the $300k remaining in accumulation superannuation, but does include the $100k in savings? Correct? Of course, in 5 years (assuming accumulation account remains, may have been further accessed), the accumulation balance is included. Thanks.

[@AustralianRetirementTrust]

Thank you for your message. In response to your question, you may need to contact Services Australia directly, or contact us for some general or personal advice. If we can help you further with general or factual information, please let us know. If you have specific questions relating to your Australian Retirement Trust account, please contact us securely via email, phone or live chat at www.australianretirementtrust.com.au/contact-us. For your own security, we encourage you not to send any personal information about your Australian Retirement Trust account via Facebook.

[@lllchironexlll]

If only we could get taxed less so we dont need any pension to begin with.

[@AustralianRetirementTrust]

For any legislation for Tax in Australia, please refer directly to the ATO : www.ato.gov.au/

[@kerrybarnes7289]

yes, and the full age pension for a politician is 55. its club, and we are not in it.

[@VivienneWest-k3n]

One hidden tax will take u to 50% of your pension payments. This is called ASSETS TEST . So don't invest independently, like the politicians find a way to keep your pension.

[@manojfernando1028]

GREAT

[@mkk5687]

The bottom line is, you get nothing. Its like an insurance company - you keep paying the premiums but do not ask anything in return. 🙂

[@lolatheng]

I am 72 and should be eligible for aged pension but I was told I cannot get pension because I have a house. The house is in my name and my husband’s and we are legally separated. He still lives in the house whilst I am renting an apartment on my own. I do not get any rent from him and due to unforeseen circumstances I had to move out. I do not have any other income. My super is depleting but Centrelink says as long as I have that joint name house, I cannot get pension. What can I do? As I do not want to live on the streets.

[@kerrybarnes7289]

a house when you are married is normaly put in two names when you buy it. its on the deeds

[@juliettst5203]

I believe you still can get pensions even though you have a house.

[@leem8697]

My understanding is that your primary residence, which is your family house in your case, is not counted towards your asset testing for pension. It looks like you should have met the income testing as well. Therefore, my solution would be: 1) you should still use the address of your house when applying, because you are legally entitled to live in that house even if you are separated. I suppose you do go back there every now and then which is very common because you still have your personal belongings there, being just separated. 2) Advise Centrelink your marital status as is, i.e. "separated", even if you still live with your ex under the same roof. This will allow you to claim Age Pension on your own, instead of with your ex together because his eligibility will impact yours and the amount you can get is less too. I just don't know whether they will ask for proof of your marital status. I suppose you can produce one if they do ask for it. 3) In terms of the rental, it's irrelevant to your application. It's just a place for you to hide when things get very unhappy in the family house if you do want to mention it to them. Your mails can be forwarded to your rental via some setting up with Australia Post. By doing this, I hope you can get the Age Pension. It's just that you won't be able to get Accommodation Supplement. All the best!

[@AustralianRetirementTrust]

For any personal circumstances, or your eligibility please discuss directly with Services Australia www.servicesaustralia.gov.au/

[@alyzauch6435]

You get nothing if your partner is still workig

[@catherineH4785]

Only if the partners income is over the income limit. Otherwise you get half the partnered pension.

[@lllchironexlll]

Divorce them

[@julzsimmons3475]

That told me nothing.

[@briechilli4496]

bottom line is, be a bum and get all the benefits.

[@Rogerboal]

living overseas, why has my pension decreased, you try phone from Indo

[@AustralianRetirementTrust]

Hi!,Our international number is [phone] or you can use any of our secure contact channels - like Live Chat - at www.australianretirementtrust.com.au/contact-us

[@peterofbarbaria9114]

Another propaganda piece. Waste of time

[@GeorgeMcphillips-v6n]

If art has invested in renewable energy and green technologies then your super is doomed

[@innerbalancedogtraining5547]

woke super 🙂

[@Blubiebird]

4 minutes in no information.

[@mazilys]

Do you really need to acknowledge the aboriginals in this video?

[@SBW_85]

All of Australia is their land, including where the podcast is being done.

[@mazilys]

@ nope

[@markhogan77]

BS

[@McCRBen]

Did aborigines retire or did they forage for bush tucker until their time was up ?

[@sampuatisamuel9785]

It's a nice gesture

[@australianminingservices]

not a bad video but it leaves more questions than answers - I found that this video too kzbin.info/www/bejne/kGG5mpRvrpipgqcsi=b7awclrqhMcPM8S2 coupled with the information above can be useful - the sad situation is - we pay PAYG ( with BAS ) we pay an annual company tax return, our small business gives work and keeps employed many others - yet because we risked all , worked sometimes 14-16 hour days we will be penalised in favour of those who come to Australia and contribute nothing every