Finance & Fury Podcast

Welcome to Finance and Fury, the Say What Wednesday edition Today’s question is from Robbie, Hi, and thanks so much for the podcast. Both Mum and Dad are retired however Mum is eligible for the pension before my Father reaches 65 (approx 5 years) however Their combined assets puts them over the threshold to claim the pension. Is it possible for them to transfer money/assets to a trust, or gift money to a sibling to reduce their combined assets below the Centerlink threshold.   Relating this to a non-specific question - is it possible to transfer assets/money that a retiree owns, so as to be under the threshold to be eligible for the Centerlink Pension, and if so, is there a time this would have to be done by (does Centerlink look at the last 5 years or so of assets?)   Today: Run through maximizing pension incomes Little can be done to reduce assessable/deemable assets Asset limit tests, gifting rules and transfer costs   Assets and Income tests: Assessable assets over $387,500 for a couple starts to reduc