But from January 1, 2015 account-based pensions will be treated in the same manner as other financial assets, when calculating the age pension and other CentreLink payments. Assets contained in an account-based pension will be subjected to deeming rates, or assumed rates of return, which currently vary between 2 per cent and 3.5 per cent.
But some account-based pensions commenced before January 2015 will be grandfathered. This means that for Centrelink income test purposes, they will continue to be assessed under the current, more favourable income test approach.
If retirees have started a pension before January next year and are receiving a CentreLink benefit, they will be exempt from the new rule.
so I take it that even if you have an allocated pension and are less than age 65 that is not on the old age pension b4 Jan 2015 then the new rates apply ????
