E9 Accessing Centrelink Benefits in Retirement

Aug 4, 2023

Here in Australia the Aged Pension is managed through Centrelink

In this episode we walk through some of the basics when it comes to dealing with Centrelink

A few key points to take from this episode:

• Start the process early - don't wait till you reach pension age
• Gather all your documents together before you start the application process
• Simplify your financial matters and assets - to help with the ongoing reporting obligations
• Keep copies of documents you provide as well as copies of the information regarding your financial situation
• If your assets change by more than $1000 you are obliged to advise Centrelink within 14 days

Jacqui talks about the different financial assessments which are carried out by Centrelink to determine the level of aged pension you might receive

We talk about the Commonwealth Seniors Health Card - which is different to the pensioner concession card

We talk about financial gifting and how that might impact your pension

 

This is a pretty dense episode with a lot of information, you may want to listen to it more than once. 

So much to think about and prepare

There are thresholds to receiving the aged pension and there will be some listeners who have arranged their financial matters so that they are able to self-fund their retirement years. This is a terrific situation to be in

For those who need it, the aged pension is available

This episode will help you understand what it takes to apply and some tips on how to manage that process to make it easier for you to receive your pension

If you have any questions remember [e-mail]

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Financial Disclaimer:

We need to make it super clear though that we will NOT be providing personal financial advice to listeners, but just providing general advice on these topics based on our knowledge and experience.