Friends With Money #210: Ways to maximise your age pension

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The age pension can be a crucial part of the financial mix in retirement, but many retirees aren't unlocking its full potential.

On this episode of the Friends With Money podcast, Money's Tom Watson is joined by Andrew Dinsdale-Scanlon from TelstraSuper Financial Planning.

They run through the financial strategies that could help Australians maximise their age pension entitlements.

friends with money podcast ways to maximise your age pension

00:00 Introduction

00:41 Overview on maximising the age pension

01:48 Strategies to reduce assets

03:31 Spousal contributions

05:13 Understanding lifetime pensions

08:07 The impact of debt on the age pension

09:49 Conclusion

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*Proudly brought to you by Telstra Super

Disclaimer: Andrew Dinsdale-Scanlon is a financial adviser with Telstra Super Financial Planning Pty Ltd ABN 74 097 777 725 AFS Licence No. 218705. TelstraSuper Financial Planning provides financial advice service to members of TelstraSuper ABN 85 502 108 833. Telstra Super Pty Ltd ABN 86 007 422 522 is the trustee of TelstraSuper and wholly owns TelstraSuper Financial Planning. Advice that Andrew gives is of a general nature and does not take into account the particular circumstances or needs of any specific person and because of that, you should consider your own circumstances before acting on any advice . Additionally, the scenarios discussed are based on the relevant superannuation rates and thresholds for 2024/25 and may change in future years. If you are considering acquiring a financial product from TelstraSuper you should read the relevant product disclosure statement and target market determination before making a decision which are available at www.telstrasuper.com.au. The financial services guide for TelstraSuper Financial Planning is available at www.telstrasuper.com.au.

Boost your financial literacy anytime, anywhere with the Friends With Money podcast from Money magazine. Whether you're commuting, working out, or relaxing at home, this weekly podcast makes it easy to grow your money knowledge on the go. Hosted by experts from Money, Friends With Money covers everything from investing, superannuation, and property to smart personal finance strategies you can use every day.

Each episode dives into real conversations about money - how it's earned, shared, saved, and grown - with tips and insights that make finance simple and relatable. Perfect for beginners and seasoned investors alike, it's your go-to guide for building better financial habits.

Subscribe to the Friends With Money podcast today and start learning when it suits you. Available on all major platforms, it's the easiest way to stay informed and in control of your financial future. Listen to some of most popular episodes from one of Australia's best finance podcasts now:

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Tom Watson is a senior journalist at Money magazine, and one of the hosts of the Friends With Money podcast. He's previously worked as a journalist covering everything from property and consumer banking to financial technology. Tom has a Bachelor of Communication (Journalism) from the University of Technology, Sydney. Connect with Tom on LinkedIn.

Andrew Dinsdale-Scanlon is a financial planner with Telstra Super. He has more than 20 years of experience in the Australian financial planning sector and has been providing personal advice since 2011. Andrew holds a Graduate Diploma in Financial Planning, along with specialist qualifications in self-managed super, listed product advice, and aged care planning. He is a representative of TelstraSuper Financial Planning Pty Ltd ABN 74 097 777 725 AFS Licence No. 218705. Connect with Andrew on LinkedIn.