Prime Time with Bec Wilson Retirement planning with your pension in mind
Jan 14, 2026
Justin Bott, a representative from Services Australia, dives into the essential role of the Age Pension in retirement planning. He explains how it acts as a safety net and discusses eligibility factors, including the impact of capital drawdown over time. Justin highlights common mistakes that can jeopardize pension eligibility and warns against making short-term financial decisions that could harm long-term security. He also discusses combining superannuation with pension payments for a sustainable income and emphasizes the value of the Pensioner Concession Card.
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Pension As The Underwriting Safety Net
- The Age Pension is an income-and-assets-tested safety net that underwrites other retirement choices.
- Its presence affects drawdown timing, investment choices and decisions like downsizing.
Apply When You Qualify
- If you're eligible for the Age Pension, lodge an application as soon as you meet the rules.
- Services Australia will tell you to claim what you're entitled to without judgement.
The Three Pillars Of Retirement Income
- Retirement income sits on three pillars: compulsory super, other retirement assets, and the means‑tested pension.
- The mix determines who relies mostly on super versus who relies on the pension for income.
