I am in receipt of a DFRDB pension ( say $20k) and am wondering how that will impact my aged pension when I turn 67 (a few years yet).

 

[mylittletibbies]

Best way to find this out would be by making an appointment with Centrelink and ask them.
I should imagine it would be counted as income under the Income and Assets Test.

 

[Auswallaby]

What ever you receive from DFRDB...Centerlink will make up the difference to what you should have received if you got the full Age Pension

 

[June E]

When the time comes you will be asked if you want your age pension paid through Centrelink or DVA. If you want to know in advance ring DVA.

 

[Argie]

What is DFRDB?

 

[Auswallaby]

What is DFRDB?

Defence Force Retirement Death Benefits Fund.

 

[StarTrekker]

What is DFRDB?

Defence Force Retirement and Death Benefits Scheme

 

[rodney.styles64]

You will need to have a look at the income/assets tests.
If you are a veteran with active service/qualifing service you can apply through DVA for a Service Pension at age 60.

 

[Suzanne rose]

Any income from pension funds or super funds counts as income.

I think you will get a very small pension. You're better off speaking to centrelink

 

[Clancieblue]

Any income from pension funds or super funds counts as income.

I think you will get a very small pension. You're better off speaking to centrelink

Maybe a financial adviser would be helpful.

 

[Reet]

It will count against your age pension. They will adjust your age pension according to the income you get from your DFRDB

 

[LainieM]

I am assuming DFRDB means Defence Forces Disability Pension. Any Pension payment your receive, whether this is from the armed forces or whether it is an overseas pension means that the Australian Government will adjust your Australian Aged Pension DOWN by the amount you receive from any other source. This means that the maxiumum "pension" payment you receive will be the same amount as an Australian Aged Pension. In the case of an overseas pension the Government even checks the relevant exchange rate and adjusts the Australian payment down in accordance with the exchange rate. You absolutely cannot win!

 

[J.C.]

Talk to a professional Financial Advisor as it is a minefield, we are currently on a full pension AND drawing down on our Super and investments, living extremely comfortably.

 

[Josephine767]

Do I pay tax on my Dfrdb pension?


You do not pay tax on the tax–free component of your pension at any time. At age 60, the Taxed component of your pension also becomes tax–free. The combined tax–free and taxed components are your new tax–free amount. The offset is limited to the Defined Benefit Income Cap.

Details from a Google search

Defence Forces Retirement and Death Benefits (DFRDB)​

Commonwealth Superannuation Corporation (CSC)
https://www.csc.gov.au › Members › Funds-and-products

 

[Linde]

What ever you receive from DFRDB...Centerlink will make up the difference to what you should have received if you got the full Age Pension

Yes thats right

 

[Ashbeare]

Simply, your regular pension is reduced by $0.50 for each Dollar over $300.00 you receive each fortnight, Your pension is roughly $775 pf therefore your age pension will reduce by ($775 -$300) / 2 or $237.00 each fortnight.

 

[mitchellowe]

What is DFRDB?

defence force retirement

 

[Ashbeare]

defence force retirement

Deference Forces Retirment & Death Benefits.