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.

Planning, Retirement income, Annuities

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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.

Economic policy, Social security, Australia. Department of Social Security

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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.

Retirement benefits

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