My grandparents have around $800K banked and fund their retirement from the interest. They receive no pension and pay tax on the interest through the PAYG system with no concessions of any kind that Iím aware of. They no longer work and are too old (youngest is 75) to get any benefit from super (from the way it was explained to me).
If anyone could give me a couple of pointers on how they could minimise tax, which I could follow up on, I would be grateful. I have heard of something called an Ďallocated pensioní, but I donít know if this is completely separate from super, or if itís something they could benefit from. Thanks.