Recently, a number of changes have been made to the pension asset test.
Changes that will see the amount deducted from your pension each fortnight literally double – from $1.50 to $3 for every $1,000 above the asset-test threshold.
For many people, ordinary hardworking Australians, that adds up to a considerable amount to lose. But there is an easy way to keep your money, yours. All that’s needed is some forward planning. We all know how to plan ahead; for the weekly budget, the annual holiday, or even by making a will.
Investing in a funeral plan from Peter Elberg Funerals is simply planning ahead. Having such a plan is a positive step with many advantages for you and your family.
But how can a funeral plan help you keep your pension?
The money you invest in our prepaid fixed-price funeral plan will not be included in your pension asset test.
In fact, the plan will act to reduce your level of assets on paper, which is a good thing. The less money you have over the assets threshold, the more pension you keep in your pocket. But that’s not all. A prepaid fixed-price funeral plan offers even more financial benefits. On average, the cost of a funeral doubles every eight years. However, because the price is fixed, you and your family will have the peace of mind of knowing that the cost will never increase, regardless of the rate of inflation.
And lastly, you’ll be reassured to know that your prepayments will be securely invested and held in trust, in accordance with Government legislation, by Foresters Friendly Society.