Why becoming a grey nomad could affect your pension

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Why becoming a grey nomad could affect your pension | NoelWhittaker

As the number of retirees grows and international travel becomes more problematical and expensive because of the pandemic, there is a surge in the number of grey nomads travelling Australia.

If you are overseas and unable to return because of circumstances beyond your control, this period may be extended. However, except for this circumstance, once the 12 months have expired, your house would be counted for the assets test. And this could be enough to make you lose the pension. The super would be deemed to be earning $361 a fortnight. Added to their rental income of $1600 a fortnight, this takes their income for pension income test purposes to $1961 a fortnight.

 

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NoelWhittaker Why not you working all your life hard to have a good and descent retirement and you have a good contribution with your taxes and all your skills

NoelWhittaker Good, if they are rich enough to travel the country in their $150K Winnebagos they shouldn't be on the pension.

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