by Darren Moffatt
16 October 2009
The number of reverse mortgages in Australia has increased, a new study has found.
According to the report by Deloitte Actuaries and Consultants, the local reverse mortgage market grew by 13 per cent over the last financial year, measured by outstanding balances after 4,950 new borrowers entered the market.
The average age of the reverse mortgage borrower [...]
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by Darren Moffatt
8 October 2009
The Sydney Morning Herald recently reported that the NSW Government is about to strip the elderly of a portion of their hard-won pension increases, defying the wishes of the Prime Minister.
NSW and other states will raise public housing rents for single aged-care pensioners in tandem with their $30-a-week pension increase.
It means that, from September next [...]
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Aged Pension Increases
by Darren Moffatt 7 October 2009On September 20th, a number signifcant changes to the government aged pension came into effect.
The single pensioner rate will increase by $65 per fortnight. The pension for couples will also increase by $20.30 per fortnight combined.
The income test and ‘taper rate’ has also changed: the rate at which excess income affects the pension will change from [...]