Humble Goode Financial | Blog

Aged care and the family home

Using the family home to fund aged care can be a complicated decision, with many interdependent factors to consider.

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Age Pension Rates Increased

From 20 September 2024, the maximum rate of the Age Pension has increased by $28.10 (single rate) and $42.40 (combined rate) per fortnightly instalment period. The Age Pension is increased each 20 March and 20 September.

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Can Non-Reversionary Pensions be made Reversionary?

If a pension commences as a non-reversionary pension can that pension be made reversionary without stopping and restarting the pension? The answer is a simple and definite “Yes” if the pension is an account style pension (such as account based pensions and transition to retirement pensions) and the governing rules expressly permit pensions to be varied.

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