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Doing this could increase your retirement income by thousands

Retirees may not know that using their superannuation to buy an annuity can boost their Centrelink age pension payments.

Joanna Mather
Joanna MatherWealth editor
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The biggest fear most retirees have is that they will outlive their savings.

There’s a solution for that, and it comes in the form of longevity insurance, otherwise known as an annuity or a lifetime income product.

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Joanna Mather joined the AFR as an education reporter in 2008. She spent four years in the Canberra press gallery before becoming superannuation reporter in 2016, deputy news director in 2021 and wealth editor in 2023. Connect with Joanna on Twitter. Email Joanna at jmather@afr.com
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    Original URL: https://www.afr.com/wealth/personal-finance/doing-this-could-increase-your-retirement-income-by-thousands-20250220-p5ldpf