Deeming Rules on Super

[Fatso]

Don't forget the new Deeming rules that the Gov Au will apply to Income Streams after 01/01./2015 that will effect Pensions . Thinking Caps should be on now .

[ramblingboy42]

forget all the commercial/industrial super funds and go to your bank or 'trusted' financial advisor and set up your own private super fund outside of the deeming rules.

its easy to do and ANYONE can do it.... their employer now must honour private super by law.
I cannot understand why anyone continues to use the commercial/industrial super funds.

[87County]

............ set up your own private super fund outside of the deeming rules.


Ummm... it's the CL deeming rules that are the problem for those who still qualify for part age pension if they have any kind of SFund

[ramblingboy42]

it can be circumvented......talk to the experts.....I don't think there's any here.

[Fatso]

forget all the commercial/industrial super funds and go to your bank or 'trusted' financial advisor and set up your own private super fund outside of the deeming rules.

its easy to do and ANYONE can do it.... their employer now must honour private super by law.
I cannot understand why anyone continues to use the commercial/industrial super funds.


If you do not have a C/Link pension it will not apply to you , there will be no outside of deeming rules for whole or part pensions , the good thing is it only apply s from 01/01/2015 . Existing income streams will be grandfathered to current rules .

[Bigbjorn]

Deeming and the assets test were introduced in the early 1990's by Dept. of Social Security. Deeming applies to all assets held by a recipient of a Centrelink payment. It was introduced because there were clients with large sums held in non-interest bearing accounts to receive a full pension. I recall one couple who had over $300,000 in a cheque account because they were determined to receive the miserable Age Pension. They could have made far more by investing their funds and not claiming a pension. This was common and reflected the mindset of "I have worked and paid taxes all my life and I want my pension".

Deeming of super funds will only apply if you are a Centrelink client and after 1/1/15 you have not converted your super. accumulation fund into an income stream.