Will I lose my pension if I sell my house?

By Noel Whittaker
Updated January 29 2018 - 9:48am, first published December 12 2017 - 7:59pm

I am single, aged 67 and my only income is the age pension. My only asset of note is a valuable house. I would like to move, and after transaction costs, should find myself with around $500,000 plus $50,000 in furniture and personal possessions. I understand that as a single I can have $250,000 of assets and still qualify for the full pension but if I downsize I will be $300,000 over the threshold. Is there any way I could invest that $300,000 and be able to qualify for the full pension. If not, I would be terribly disadvantaged by downsizing.

Subscribe now for unlimited access.

$0/

(min cost $0)

or signup to continue reading

See subscription options

Get the latest Ballarat news in your inbox

Sign up for our newsletter to stay up to date.

We care about the protection of your data. Read our Privacy Policy.