National Seniors is extremely disappointed with changes to the pension assets test that took effect from 1 January 2017.
The asset test taper rate will double (from $1.5 to $3 per $1,000 of assets over the full age pension asset threshold). As a result, the assets test cut out limits will be decreasing and some people will lose some or all of their pension. Find out more here.
National Seniors has been lobbying against the change for the past 18 months. We have also suggested to government a more appropriate $2 taper rate to reduce the severity of the impacts.
We are continuing to compile member feedback on this important issue for further consideration. Please complete the form below to share your experience on how the pension changes affect you.
You may be interested to know that members of National Seniors can get free access to the National Seniors Financial Information Desk to discuss the pension changes in more detail. Staff at the Financial Information Desk can be contacted on 1300 020 110.
We also encourage all members to check their details with Centrelink and update asset valuations where necessary.