Age pension changes may leave a nasty impact
3 February 2014 I John Oliver, The Advertiser, page 50
There is a big change likely to occur next year and if you are a retiree or near retiree, it will be in your best interests to know what your options are. There is a Bill before Parliament that aims to apply “deeming” to account-based pensions (ABPs) that are started after January 1, 2015. If the Bill is passed, it could have a major impact on age pension or allowance recipients. How it may affect you will depend entirely on your financial position. Some won’t be affected at all, where as others may be impacted on a significant scale. If you set up an ABP today, the assessment under the Centrelink income test is calculated by using the annual income you receive less a deductible amount or non-assessable amount.

By Trevor Thompson. 
CFP DipFP
SENIOR PARTNER