If you are over 25, but under 55, then the new Pension law changes can indirectly affect you. With 65% of pre-retirement Australians expecting an inheritance, but conversely 79% saying retirees should spend their pension on what they like(1) How much would be left in the pot when the inevitable comes?
The new Pension changes come into effect in January 2017, and will affect how much today's pensioners will receive depending on a tightening of the asset test rules. Many people expecting an inheritance could be disappointed!
For those in retirement, these changes could have an impact on what you wish to leave your children.
Thankfully, we have well renowned financial planner, to help us through the myriad of changes and to provide advice on what we can do to support ourselves in this new environment. Kath Lewis will be a Moccabella Cafe for an information evening and to answer your questions.
Please confirm by booking online - this is a free event. We will be serving light refreshments curtesy of Moccabella Cafe, therefore, booking is essential - places are limited. (1) ANU "Ageing & Money" report, February 2016