Prime Time with Bec Wilson Retirement planning with your pension in mind
Jan 14, 2026
Justin Bott, a representative from Services Australia, dives into the essential role of the Age Pension in retirement planning. He explains how it acts as a safety net and discusses eligibility factors, including the impact of capital drawdown over time. Justin highlights common mistakes that can jeopardize pension eligibility and warns against making short-term financial decisions that could harm long-term security. He also discusses combining superannuation with pension payments for a sustainable income and emphasizes the value of the Pensioner Concession Card.
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Know When Super Counts
- Remember superannuation is an exempt asset before age‑pension age but counts once you hit 67.
- Moving money out of super before pension age can make assets assessable and affect eligibility.
$300k Transfer That Backfired
- A man considered moving $300,000 into his partner's super to create pension eligibility but lost access and tax advantages.
- He chose to keep the capital and forego about $30 a fortnight of pension in favour of $15,000 pa tax-free income.
Value Contents Realistically
- Value household contents at realistic 'garage sale' prices, not insurance or replacement cost.
- Revalue overstated contents because inflated figures can wrongly deny pension eligibility.
