I have $250,000 in super and want to apply for an age pension if eligible. My partner of 20 years has ample savings and super, but we are totally separate with our monies, both being on second marriages. We share our equally owned home for expenses. Upon death, her kids get all her money and my kids mine. Yes, we live and sleep together but financially, we are separate. I’m concerned that I don’t have a lot of money left. I am 71 and she is 66.

You are far from alone in facing this challenge. Outdated though it unquestionably is, Centrelink does not recognise couples operating financially independently. You will be assessed as a couple, and so your pension entitlement will be affected by the assets and income of your partner.

Even if your finances are separated, you will still be treated as a couple for Centrelink purposes.Credit: Simon Letch

As your partner is under 67 years of age, at present her superannuation........

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