I have a client ceasing work due to health reasons, under Age Pension age (61), and will be in receipt of a Disability Support Pension. His partner, also well under Age Pension age (54) and healthy, is expected to receive Carer Payment and Carer Allowance. The client is about to commence a SASS Defined Benefit income stream, which is reversionary. Unfortunately, it is expected the client will pass away within 7 years. I need to model a scenario where the client dies, following which the DB will revert to the partner at 62.5% of the initial rate and the partner will lose Carer Payment and Carer Allowance (potentially in receipt of Newstart allowance). Sadly, they are not in a good financial position.
I don't know how to set a date of death such that Centrelink treatment adjusts accordingly and the DB reverts. For the reversionary pension I included an annual expense to reduce payment down to the equivalent of 62.5%. Any help would be greatly appreciated!