Income streaming or lump sum? It makes no difference to Centrelink

For those over age pension age, super can be left intact or converted to an income stream. Photo: Shuttershock

Question 1: I have never understood the difference between how the age pension is affected if super is left intact or if it is changed to a super income stream. Say my husband and I are both 69 and have $550,000 in super and no other assets or income, what is the difference between drawing out occasional lump sums versus income stream, as far as age pension assessment? If income stream, is the amount in super still counted as an asset?

These days there is no difference.