Benefits of a younger spouse
The age difference between a couple can be put to good use as part of a strategy to maximise the chances of the older person qualifying for the age pension, Daryl Dixon writes.
DIY members approaching the qualifying age for the pension (65 for males or 64.5 for females eligible in 2013) should consider their individual eligibility for Centrelink entitlements. Even if not entitled immediately, there can be significant benefits in the future by ensuring their fund is appropriately set up to maximise their entitlements.
To receive the full or a part age pension, Centrelink applies both an income and assets test, setting the amount to be paid using the test that gives the lowest entitlement.
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