What you need to know As we head into a new year, there’s that wonderful sense of optimism and opportunity. This often means the chance to do things differently, to make the changes we believe might make our lives better, in whatever way matters most. At...
And how to avoid ‘the gap’ Qualifying for an Age Pension is a process most Australians will experience at some stage in their retirement. Timing your application and knowing how back pay works will help you to avoid missing out on much-needed income....
If you’re one of the majority of retirees who receives a full or part Age Pension or a DVA payment, you’ll be keen to know Centrelink service options over the holiday break. Opening hours Centrelink will be closed: Wednesday 25 December 2024 Thursday 26...
When an entitlement such as the Age Pension has been in place for more than a century, it’s tempting to assume that the rules are well-known and easy to follow. Not so, unfortunately. Every day the Retirement Essentials Customer Services Team hears from...
A majority of Australians highly value the concept of a guaranteed income for life. It’s easy to forget that the Age Pension provides such a safety net, initially for the 65% of those who reach Age Pension eligibility age of 67. And further down the track to...
The income test forms a major part of your likelihood of receiving an Age Pension. That’s well-known and the thresholds are quite clear. Which income is included and which is excluded can be more complex, which is why we covered this topic in some detail in...
There is a very common mistake that adviser, Sharon Sheehan, has noticed. So many members are confused by the term ‘superannuation account’. Recent research from AMP confirms that 70 % of older Australians don’t know what an Account-Based Pension is. Given...
In mid-October we reported on the second part of the Means Test – how Centrelink assesses income. In this update we explained how the income test works, what is ‘earned’ income and what is deemed. We then asked you to share any aspects of the income test...
Is this assessable? Two weeks ago we explained how the assets test works and how different assets can be treated very differently by Centrelink. At the end of this article, we asked if you find these rules confusing and you certainly answered – in the 70...