Transferring All Your Assets To Get The Full Australian Aged Pension

This video looks at the tried and true 'investment' strategy at maximising your aged pension entitlements. Transferring your assets to your spouse's superannuation and looking like a pauper in the eyes of Centrelink will net you an extra $25k a year.

I recognise that only a very small percentage of retirees would implement this strategy, however the statistics are unknown. My question to you - do you trust your partner?

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[johnkauppi]

The aged pension means living in poverty. If you have assets put them out of the Governments reach years beforehand. The Asians and Greeks, when they got old would transfer everything into their kids names. Houses, farms, Mercedes, Bank accounts. These are traditionally close families that have absolute trust and respect in each other. Then the oldies get to stay in their big home, drive their $160, 000 Mercedes, get cash from their kids and get full benefits from the aged pension and live well with no money worries. I don't blame them for doing it either. Politicians retire very well why can't we?

[grahamaustralia]

There is an enormous cost to the bureaucracy involved in the means testing of everyone applying for the age pension. I think it may be time to look at how other countries support their aged population and perhaps pay a flat rate to all at retirement age and only means test those requiring additional help.

[johnd]

If you have worked and paid tax your whole life, why wouldn't you maximise the financial assistance available to you in retirement?
You need your head read if you didn't.

[billk]

If its legal its not a rort. As Kerry Packer said when questioned by a parliamentary committee over his tax affairs .... basically ... I do everything thats legal to minimise every dollar of tax and anyone who doesnt is stupid. If you dont like it change the law.

[jacquibrown]

I also belive if your parter is a couple of years youger and has a good job the older partner is only entitled to part pension. I think thats not fair as if you have only been living together a couple of years it still counts.

[tntjenkins]

Most wealthy people on the full pension went to financial advisers decades earlier and got there affairs in order to hide their money in trust and other generational wealth vehicles... So what's the harm in a few people like this trying to protect there children's inheritance...? I don't see the problem.

[multimedia]

This needs to be taken down as it is old information. I recently retired, and my wife still works part-time. Her assets, car superannuation etc are included in my assets on the application forms which gives me a very low pension per fortnight.

[hookinggoodfishing]

What about when you have a SMSF shared with your spouse?

[jj-ivql]

Hi Jon - What about your younger wife’s income? Is that included and assessed?

[neillogan]

I plan to retire to Thailand what are the restrictions regarding the 2 year period regarding residency meaning do I have to actually live in Australia for 2 years

[billshepherd]

When a person has paid tax all their life, they should be entitled to the age pension. The less paid in pensions well that leaves more to pay their mates at the top end of town.

[irenecakouros]

It is not a pension it is a supplement, if you are not entitled to it.

[helixator]

The Pension should function as a universal basic Income for the aged. It’s unfair that those who contributed the most to it via decades of taxes paid over their working life don’t get to draw on it.

[MOONBASE_Stereo_Side_Touchdown]

Billionaires, the rich and famous do it all the time ! Bankruptees and dishonored business people transfer and operate in other names as well. So pensioners with their few dollars are criminals ?
Until there is ONE RULE for all, I say go for it !!!

[gidget]

Am giving my son the house and da ughter car. How can I go into care and me going into care, he will ha e nowhere to live he is disabled requir8ng another 2 knees replace.
Respp9n will bee out on the streets,

[alanhughes]

get a wife 30 years younger sounds like good idea, all jokes aside the goverment will close the loop holes, as dept goes up .

[paulsi]

1) you can only transfer $330, 000 2) you imply that Centrelink could stop this, but it is not illegal. You would need to get the tax laws changed! 3) as it is legal, why are you apparently upset that I am doing this? It is not illegal! Get the laws changed if you don’t like it.

[prancer]

Forget the pension guys retire on your own wealth 👍😉😁🥂🎉💰

[irenecakouros]

If that is the case then it is NOT a pension but a SUPPLEMENT.

[johnerdelyi]

What do rich people do they know how to play the system but when are a battler it's a crime 😊