Wealthy retirees to be hit hardest by the pension changes
Retirees and those nearing retirement with large superannuation balances and other assets and investments will likely be affected by new pension asset test changes, which passed Parliament on 22 June, 2015.
Liberum Financial, advise that under the new legislation, wealthy couples who own their own home and have over $823,000 in assets (not including the family home) will see their pension entitlements reduced or cut entirely.