The case for allocated annuities
Article Abstract:
In light of changes to the Social Security system designated to take effect Sep 1997, allocated annuities may be a better option than allocated pensions for people over age 55 and until July 1998. The Department of Social Security will standardize the treatment for annuities and pensions in July 1998, but for the present time, allocated annuities have a more favorable income test than allocated pensions.
Publication Name: Personal Investment
Subject: Personal finance
ISSN: 0813-2992
Year: 1997
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Social security's tough new regime
Article Abstract:
The Department of Social Security will change the way the way it assesses superannuation beginning in Sep 1997. New superannuation rules will affect beneficiaries ages 55 or older who have been receiving benefits for at least 39 weeks before turning 55. Those receiving disability support pensions, and partner, parenting, sickness, and mature age allowances will be affected.
Publication Name: Personal Investment
Subject: Personal finance
ISSN: 0813-2992
Year: 1997
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Pension plus
Article Abstract:
Pensioners in Australia can benefit from the new income stream test rules that go into effect in 9/98, but unnecessary changes are not advisable. Falling into the hands of unscrupulous advisers is a danger. New Social Security and Veterans' Affairs means testing rules will be in effect for those who want to get a full or part pension based on age.
Publication Name: Personal Investment
Subject: Personal finance
ISSN: 0813-2992
Year: 1998
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