The assets and income test of lifetime income streams has changed. The new rules are designed to support the use of certain lifetime income streams which feature payments for life, regardless of how long a person may live, and reducing access to capital over life expectancy.
These new rules can provide what can be attractive means testing outcomes for your pre and post retiree clients and could change their Age Pension and retirement income outcomes.
To understand how these rules may impact your clients please refer to the resources below.