67. Noel Whittaker - Australian Personal Finance Legend
Aussie Firebug
00:00
Pension Annuities
There's certain products that don't classify in the asset test for pension annuities being one of them. So you can buy it, you can purchase an annuity. And I mean, they're like luggage is all sorts of annuities. But the government feels the first problem is that retirees wish to live off the earnings from their capital and preserve the capital. The government thinks that's very bad. They've instructed the funds to produce what's called CIPRS, SIPRS comprehensive income products retirement which are designed to help you to spend your capital. Because the government says you should be using your house,. You can do by downsizing to free up capital from the sale
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