Ready to retire

I am ready to retire for health reason ,I am planing on takeing my super now the big question

as I'm not old enough for the aged pension what effect will my super of $100,000 if I apply for Centrelink benfit ,will my super  be class as a asset or income ? I do not own a house 

2 comments

Judy, providing you leave your super in your fund until age pension age, Centrelink won't include it as an asset or income. Once you reach age pension age your super can be assessed as an asset or income. I presume until then you may be considering claiming newstart or DSP etc.

Good luck.

Col

Note: this advice is based on my understanding only and may or may not be accurate.

Yes good luck with it  -- I have a Friend that has all sorts of health problems and is unable to get a pension -- the only thing they got after a cancer operation and also a heart attack and after having to use ALL their sick pay  and holiday pay was a health card for 1 year to help them with the chemist bills which was costing the earth -- and now struggling back at work and having to pay FULL price for about 8 medications which running into the hundreds on the very basic wage.

2 comments



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