NEW Pension Asset Test from 1/1/2017
As of January 2017, all asset thresholds have been substantially increased to offset a sharper taper rate in pension reduction. The new Pension Asset Test for retirees come 1st January, 2017 is: Retirees below the threshold are entitled to a full age pension. The new rules may result in a large number of retirees no longer satisfying the assets test to remain pensioners. This group will be come self-funded retirees but…