Changes to the Age Pension Assets Test thresholds and taper rates will come into effect from 1 January 2017. Under the new rules, many clients could lose some, or all, of their pension entitlements.
There may be opportunities to reduce the impact of the changes and enhance your clients’ overall cash flow.
Challenger has a range of resources to help you and your clients with the changes.
The first step is to identify clients who may be affected. Together with IRESS, Challenger has created a way for you to easily search for your pension clients and extract the relevant data required to perform a client impact assessment.
Using the following guide you will be able to:
- Identify clients which may be eligible, and
- Extract key financial data which can be utilised to perform a client impact assessment.
Once you have this data, contact your Challenger BDM who can help you with the client impact assessment using the taper rate and Age Pension calculators.
