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 2014 Budget - Retirement Planning Changes 
  • Indexing pensions to the CPI, rather than wages, from September 2017
  • Increase to the Age Pension age to 70 by 1 July 2035
  • Pausing of Pension Assets Test & Income Test eligibility thresholds for three years
  • Resetting the Assets Test Deeming Rate thresholds from 20 September 2017
  • Annual Seniors supplement to be abolished
  • Indexation of the Commonwealth Seniors Health Card income thresholds from September 2014
  • Untaxed superannuation income to be included in the income test for the Commonwealth Seniors Health Card for new recipients
  • Change to the schedule for increasing the superannuation guarantee rate to 12%
  • Increase in the concessional contributions cap from $25,000 to $35,000 for individuals aged 49 and over from 1 July 2014
  • Increase in the concessional contributions cap from $25,000 to $30,000 for individuals aged younger than 49 from 1 July 2014
  • Increase in the non-concessional contribution limit to $180,000 from 1 July 2014
  • Deeming rules for account based pension income
  • Defence Forces Retirement Benefits & Defence Force Retirement & Death Benefits superannuation payments indexation

Back to 2014 Budget - Personal Finance Summary main page

Scott Francis' articles in the Eureka Report 

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