Retirement planning with the pension in mind
What role does the Age Pension really play in your retirement? Services Australia’s Justin Bott returns to unpack how it fits into a smart, sustainable retirement plan.
When we think about retirement planning, super often steals the spotlight. But for the majority of Australians, the age pension remains the backbone of their retirement income, and planning with it in mind can make a meaningful difference.
So, this week on Prime Time, I’ve invited Justin Bott, Community Information Officer from Services Australia, back on the show to help us unpack the role the pension really plays in building a sustainable retirement plan, and how you can get ahead of planning with it in mind.
From clever (and legal) asset strategies to common mistakes people make when applying and how things like offset accounts and family gifts might affect your eligibility, this episode is full of practical tips that can help you plan smarter and make more informed decisions.
LISTEN TO THIS EPISODE OF THE PODCAST HERE:
Highlights of the conversation:
Why understanding the Age Pension is foundational: I ask Justin why getting your head around the pension early is so important.
The real purpose of the Age Pension: Justin walks through what the pension is actually designed to do: act as a safety net through the income and assets tests and guarantee a baseline income for anyone who meets the eligibility rules.
How the pension, super and your home are meant to work together: We unpack how the system is designed as an integrated whole - not separate silos - and why understanding how these pieces interact leads to more sustainable retirement planning.
Making super and the pension work together: Justin explains how small changes in super balances and spending can affect pension eligibility and why planning for both together is far more powerful than focusing on one alone.
The mortgage offset trap most people don’t realise: One of the biggest eye-openers: why money in a mortgage offset account is still assessed as an asset by Services Australia, and how that can unexpectedly block pension eligibility.
Gifting- what people get wrong: We dig into gifting rules, the five-year look-back, and why giving money away just to “get the pension” can seriously undermine your long-term retirement security.
The danger of making the pension the goal: This is a big one. Justin explains the risk of designing your whole plan around getting the pension quickly - instead of building a retirement lifestyle that lasts decades.
Why concession cards matter (even more than people realise): We talk about the real value of concession cards - from healthcare to everyday savings - and why they’re worth understanding in their own right.
The best way to get ahead of pension planning: For anyone not yet retired, Justin shares where to go, who to talk to, and how the Financial Information Service can help you plan without tripping up later.
From Bec’s Desk
Happy, happy New Year. I hope you’ve had a brilliant break. I certainly have.
I’m officially back at work, but for the next couple of weeks I’m working out of London as we launch The Epic Retirement Institute in the UK. Now, that’s probably irrelevant to most Aussies listening because this is an Aussie show and that’s not changing. But I know you’re with me in spirit as we keep trying to help people navigate modern retirement, wherever they live.
We’ve also welcomed a new UK Lead to the team this week, Charlotte Gibson, which is very exciting. It means I can spend sensible amounts of time on planes instead of living on them. I am in my Prime Time after all, and I quite like having a good, normal life in Australia. You’ll get to know Charlotte if you follow my socials. She’s a seriously smart retirement leader in the UK and absolutely knows her stuff. I’m thrilled to have her on board.
Today’s podcast is a cracker.
We had Justin on the show last year and you loved him, so we’ve brought him back for more. If you missed his last episode, it was a little different and very practical. It was called “What do I actually need to know about the Age Pension?” Listen here.
Now - if this retirement stuff is really lighting you up, you might enjoy our How to Have an Epic Retirement Flagship Course. You can download a brochure and learn all about the upcoming course that kicks off on the 19th Feb here.
And lastly - got a question? - reply to this email and ask me. You might help us find a great topic for the show or a social reel. And, know I love to hear from you.
Cheers, Bec
Earlybird sale ends soon: Book your place on the How to Have an Epic Retirement Flagship Course for Feb 2026
The next How to Have an Epic Retirement flagship course begins 19th February 2026. It’s a practical, Australia-first program designed for people in their 50s and 60s who want to understand how to navigate retirement (the easy way). And we all do the program together (we call it a synchronous program).
The earlybird 25% off deal is now on, for the first 200 students to book. Get that deal or learn more here.
Excellent breakdown of the Age Pension system. The integrated approach you discuss - understanding how super, home equity, and the pension work together rather than in silos - is crucial but often overlooked. The mortgage offset trap is particularly eye-opening; many people don't realize those funds still count as assessable assets. This holistic planning perspective, rather than fixating solely on pension eligibility, offers a much more sustainable path to retirement security.