Deeming rules for superannuation account-based income streams
New changes will affect superannuation account-based income streams. Standard pension deeming arrangements will apply to new superannuation account-based income streams assed under the pension income test after January 2015.
"All products held by pensioners before January 1, 2015 will be grandfathered indefinitely and continue to be assessed under the existing rules for the life of the product so no current pensioner will be affected, unless they choose to change products," both Swan and Shorten said today. -----------------------------------------
Can anyone even guess as to what Swan is referring to when he talks about change of product? Does he mean a stock, a super fund? Frankly I have no idea what the idiot is talking about. But then maybe I'm the idiot for not getting it right away.
