Jacob, a widower was born 1 Aug 1955 and is planning


Jacob, a widower was born 1 Aug 1955 and is planning on retirement in early 2022 when he thinks he will be eligible for the Aged Pension. He has one daughter who is not dependent on him. He would like to know if he will in fact be eligible for this pension and if so, roughly how much he would receive based on his current assets. Jacob has an inherited health issue and feels his is unlikely to live beyond his late 70’s. He has about $250,000 in his superannuation fund and is thinking he would like to increase the amount in superannuation so that he could draw down a superannuation pension on top of any Aged Pension he is eligible for when he retires. While his employer is making Superannuation Guarantee contributions to his superannuation, Jacob has been thinking of salary sacrificing up to the maximum amount or putting some money from his bank account into super and has come to you for advice on this and his upcoming retirement plans. when he retires – he is happy to work on todays figures knowing they will change. He would also like to discuss any strategies he can use to maximise his Aged Pension entitlement while ensuring he lives comfortably and/or any investment strategies to give him a better retirement.

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