Ask Noel & The Explainer: Is it worth borrowing for aged care?

I am on a full age pension and wondering if money can be gifted to myself directly into my standard super fund. My concern is having my pension reduced if I am gifted directly into a bank account.

If you are on the age pension you must be of pensionable age, which means an asset is assessed whether it beheld inside super or in your own bank account. However, there are both income test and asset test thresholds – if the gift is relatively small, so that you still remain under the point where the pension starts to taper, the gift would make no difference toy our pension. My website has an age pension calculator where you can do the sums for yourself.

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