Age Pension Traps Explained: What Happens When One Partner Passes Away | Centrelink & Aged Care Risk

Age Pension Traps Explained

What really happens to your Age Pension, Centrelink benefits, and aged care fees when one partner passes away?

Rob Goudie and Ash Rowan explore a real-life case study revealing one of Australia’s most overlooked retirement planning traps, the financial shock many widows and widowers face.

They discuss how Age Pension and Centrelink rules change when moving from a couple to a single, why pensions are often reduced or lost, and how estate planning and smart asset structuring can help protect the surviving partner.

⚠️ Many Australians assume expenses are halved after losing a partner, but they usually aren’t. Combined with Centrelink rules, this can cause serious financial stress if not planned for early.

👉 If you or your parents are approaching retirement, this episode could help protect tens of thousands of dollars in retirement benefits.

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Advice Disclaimer || Any advice given by the presenter/s has been prepared without considering your individual objectives, financial situation or needs. So, before you act on the advice you should think about whether the advice suits your objectives, financial situation or needs. If the advice relates to acquiring a financial product you should obtain a copy of the Product Disclosure Statement for that product and consider it before making a decision. This presentation has been prepared by Consortium Private Wealth Pty Ltd (ABN 74 616 250 965) (AFSL 495401). If you require advice which takes into account your objectives, financial situation and needs you should speak to a financial adviser.

Robert Goudie (ASIC Reg 235974), Ashley Rowan (ASIC Reg 433899), Olivia Glare (ASIC Reg 1262290), Rachael Todman (ASIC Reg 1270413) & Amy Lehmann (ASIC Reg 1292710) are Authorised Representatives of Consortium Private Wealth Pty Ltd ABN 74 616 250 965 AFS Licence 495401.