A listener asks a simple question: if Dad withdraws his super and puts it into a term deposit, will it affect his Age Pension?

In this episode, Nathan and Jordan unpack why this is not as straightforward as it sounds. What starts as a pension question quickly opens up into a much bigger conversation around estate planning, death benefit tax, and the trade-offs of taking money out of the super system.

They explain who can receive superannuation on death, how tax applies to adult children, and why some families consider withdrawing funds to avoid future tax. But they also highlight the hidden costs, including losing the tax-free environment of super and potentially paying more tax during retirement.

The discussion also covers how Centrelink assesses super versus cash, and why the timing of when a pension was started can make a difference.

This episode is a practical guide to thinking through the bigger picture before making a decision that may be difficult to reverse.

Visit www.weavinggoldpodcast.com for more episodes, blogs and to get in touch.

Nathan:

advice@nathanfradley.com.au

www.nathanfradley.com.au

Jordan:

jordan@planningsolo.com.au

www.planningsolo.com.au

The information contained in this podcast is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.

Jordan and Nathan are both authorised representatives of PlanningSolo Licensing, AFS Licence 526143