Pension age is the age people can A.access their superannuation, if they do not work anymore.B.access the government pension, if they meet the asset tests.C.access the government pension, without any condition.D.access their superannuation, without any condition.

Which of the following superannuation funds will be appropriate for a country that suffers from ageing population?Question 9Select one:a.Retail superannuationb.Industry superannuationc.Corporate superannuationd.Compulsory superannuation

For a member of SSS to claim a lifetime monthly pension, he must be at least 60 years old and have at least _____________ monthly contributions.

Q2. Fred, a single non-homeowner aged 65 has the following assets:Term deposit $200,000Debentures $57,500Shares $118,000Managed fund $20,000In addition, Fred owns the following lifestyle assets, shown at market value:Furniture $15,500Coin collection $7,500Motor vehicle $18,000Fred has a personal loan on his vehicle of $4,500.Determine Fred’s Age Pension under the Assets Test, who has recently become eligible to receive theAge Pension

Q1. Explain four strategies which could be employed to qualify for, or increase a person’s Age Pensionpayments.

Which of the following statements about the ‘Social Security’ section of the lecture material are TRUE:If you are a full-time student below the age of 24 and have moved out of home, you should be able to qualify for Youth Allowance if you are working a casual job and receiving some income support from your parents even though your parents have high income and assets.An individual must satisfy both the ‘asset’ and ‘income’ test to qualify for the Age Pension. There are limits on giving children an ‘early inheritance’ by gifting assets to them to satisfy the asset test.