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Centrelink means test rules

How your clients may benefit from the Centrelink means test changes to lifetime income streams 

Assets and income tests on lifetime income streams have changed. The rules are designed to support the use of certain lifetime income streams that feature payments for life, regardless of how long a person may live, and reducing access to capital over life expectancy.

Challenger’s Guaranteed Liquid Lifetime Annuity (Flexible income option) may help your clients boost their current Age Pension. Or help those who currently miss out to achieve a part Age Pension - with some of the extra benefits the Age Pension brings, including access to the Pensioner Concession Card.

Important notes: Age Pension benefits described above will not apply to all individuals. Age Pension outcomes depend on an individual (or couple’s) personal circumstances and may change over time. While lifetime income streams may immediately benefit some Age Pension eligible retirees who are assessed under the assets test, in later years, if assessed under the income test, any ongoing Age pension benefits may be reduced.