Retirement phase income streams
Social security assessment
The social security assessment of superannuation and non-superannuation income streams is based on four categories:
- lifetime income stream - purchased on or after 1 July 2019
- asset tested (long-term) - generally have a term greater than five years or an account based income stream
- asset tested (short-term) - term of five years or less
- asset test exempt - generally purchased pre 20 September 2007, commutable in very limited circumstances and nil residual capital value.
Last modified: Wednesday, July 24, 2019