David looked after his disabled daughter Maria and received a Carer Payment. When David turned 65 he no longer qualified for the Carer Payment and had to apply for the Age Pension. However because his significant superannuation balance now counted towards his asset & income test, it was not possible for him qualify for the Age Pension. This reduced David’s ability to care for his daughter. By creating a Special Disability Trust and placing some of his superannuation money into this trust David was able to qualify for an Age Pension and ensure his beloved daughter was well looked after.

Disclaimer and Warning
The information above is of a general nature only. It should not be used as a source to make financial decisions. It’s also important to note that the legislation and figures related to this topic tend to change regularly and therefore the information above may not reflect the current status. We recommend that if you are looking for advice on this matter, you should contact us.