We have a family member who is preparing for retirement. They have left planning quite late unfortunately which make things a little more difficult. Here are the specifics: Super - $80,000+ Cash savings - $80,000 Pensioner bonus scheme - $20,000 (they have worked a substantial number years past retirement age). PPOR - Complete ownership transferred to a family member about 1 year ago with no money exchanged, it will no longer be assessed by Centrelink as an asset in 4 years time. They are still living in this property (all the legal issues/risks of this transfer have been considered). Holiday House - Inherited 9 years ago, purchased in the 60's (possible future PPOR but unlikely unless there is a significant benefit to doing so). Future living arrangements - Will reside with other family members in years to come. Retirement - Of late their employment has become more volatile. They plan on working for another 2 - 4 years before moving in with the other family members. The PPOR was transferred to a family member following financial and separate legal advice as they would only be eligible for a very small aged pension owning the PPOR and Holiday House. The Holiday House will rent for approximatey $275 - $325 per week. There is scope to build a granny flat at the Holiday House and combined rent would be approximately $500-$550 per week. If this came at the cost of the aged pension (approx $430 p.w), it probably wouldn't be worth doing. They may also be paying rent of about $400 per week when they move in with family members. They are seeking further professional legal advice in the near future however would like to go in armed with a few possible strategies.