My wife and I disagree about whether we should adjust our assets to qualify for a part age pension. I’m 67 and still working full-time on a good income; she’s 56 working part-time. We’re mortgage-free, with about $1.2 million combined in super. She feels the pension benefits are compelling, while I think we should maintain a strong financial buffer for future risks. Which approach makes more sense?

Broad brush, my view is that if you are entitled to the age pension, you will qualify, and if you aren’t, then you won’t. Financial gymnastics aimed at obtaining a few extra dollars from social security that you don’t really need is not my cup of tea.

Cutting down your super so you qualify for the pension is generally not a good idea.Credit: Simon Letch

Currently, your question would seem to be a moot point, given you continue to work. I imagine your wife would be pointing to the opportunity presented by the 11-year age gap that you have.........

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