Allocated or Term Allocated Pension

[materamagic]

which do you think is the best way to go?

 

[Papa G]

which do you think is the best way to go?

As you are 21 I don't really think it's an option for you sunshine.

A TAP is only beneficial if you want to get a 50% assets test exemption to gain more centrelink. You will need to get one before September before the rules change.

Other than that you'd go an allocated pension because it offers more flexibility.

 

[Scratcher Gillespie]

As you are 21 I don't really think it's an option for you sunshine.

A TAP is only beneficial if you want to get a 50% assets test exemption to gain more centrelink. You will need to get one before September before the rules change.

Other than that you'd go an allocated pension because it offers more flexibility.

Absolutely correct Papa G.

Allocated Pensions, whether they are TAP, or straight AP, are simply part of the draw-down phase of super ie: you can't access them until you satisfy a condition of release (for most younger people this means retirement over the age of 60)