Deeming

Hi Tony, I believe that if you make a commutation from your ABP after 1/1/15 it is no longer “grandfathered” and will be subject to deeming. Is this correct?

A: If the pension commenced on or after 1 January 2015, then it will be deemed. In some cases pre-Jan ’15 ABPs might be deemed for new Age Pension or Senior Health Card applicants. Commutation has no impact. The amount that is commuted, if placed in to another financial investment, for example a bank account, term deposit etc., then that amount would be deemed.



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