Nick Bruining: Falling asset values during this downturn offer an opportunity for part-pensioners to cash in

Detailed summary

As the Australian economy stumbles towards a more severe downturn, the storm clouds of a possible recession could actually spell good news for Centrelink pensioners. Here’s why ...

As the Australian economy stumbles towards a more severe downturn, the storm clouds of a possible recession could spell good news for seniors. From four-wheel drives to beach houses, declines in the value of a range of assets could mean you become eligible for a part-pension from Centrelink for the first time — and existing part-pensioners could see a sizeable boost in their payment. Potential and part-pensioners affected by the Centrelink asset means test are the ones most likely to be affected. Those already receiving a full pension are not. Specialist Centrelink consultant Annette Sinclair said regular increases were part of the story.

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