I am 64, not working & receiving an allocated pension from my Super Fund.
My wife is 60, working part time ($13000 annually) & contributing to her Super Fund.
If my wife ceases work by the time I reach Aged pension age & also ceases contributions to her Super, will her fund still be considered to be in Accumulation phase & thus not be included in my Income/Assets for purposes of my Aged Pension application?
Thank You.
Kevin

Hi Kevin,

Best answer is to suggest you seek professional personal financial advice - either from an independent financial adviser or even contacting the free financial consultant service provided by Centrelink.

You're question in totality really requires a full assessment of both your situations.

In a very general sense and taking no other information into consideration, you wife's if under 65 can keep her super account in accumulation. From ages 65-74 a work test applies to maintain this status.

Again, this is best approached by a quality adviser in receipt of all information

Hi Kevin,
Whilst your wife is under 65 and her money remains in accumulation mode of super it will not be counted as an asset for Centrelink purposes or impact your age pension.
Your wife's money can stay in accumulation mode forever. The work test Damien refers to only relates to her ability to make any further contributions to super after the age of 65. There is no test for keeping money in accumulation, anyone can keep money in accumulation mode indefinitely.
Given the age gap between yourself & your wife (and this exemption from Centrelink testing we have been discussing) I suggest you get some personal financial advice as there is a lot that can be done maximise your age pension entitlement prior to your wife turning age pension age.
Happy to help if you want to make contact.

Regards
James