Centrelink – Age Pension

Centrelink - Age Pension

The purpose of the age pension is to make sure you have enough income in retirement. It is a fortnightly payment made by the government to help you meet the cost of living, if your retirement savings are below a certain level.

To be eligible for the age pension, you must have reached a certain age. If you satisfy the age criteria, your current level of wealth is then assessed to determine whether you can receive a payment.

You are assessed based on whether you are single or a member of a couple; and you own your own home.

Once you reach the qualifying age, your current wealth (your assets and your income) is measured to determine your eligibility. To receive a payment, you must meet both an asset and income test. Both tests are applied to your circumstances, and the test that results in the lowest payment is used.

We can help with the endless application process for age pension benefits. This will save you time and avoid delays during the process.

Maximising Entitlements

The purpose of the age pension is to make sure you have enough income in retirement. It is a fortnightly payment made by the government to help you meet the cost of living, if your retirement savings are below a certain level.

To be eligible for the Age Pension, you must have reached a certain age. If you satisfy the age criteria, your current level of wealth is then assessed to determine whether you can receive a payment.

You are assessed based on whether:

you are single or a member of a couple, and
you own your own home.
How are you assessed?

Once you reach the qualifying age, your current wealth (your assets and your income) is measured to determine your eligibility. To receive a payment, you must meet both an asset and income test. Both tests are applied to your circumstances, and the test that results in the lowest payment is used.

How can we help you?

We will help you with the placement of investments to maximise your age pension entitlements.

The use of superannuation and retirement income streams, such as account based pensions, will often provide favorable results.

At Intergenerational Wealth, we can able to help with the endless application process for age pension benefits. This will help to save you time and avoid delays during the process. Better still, once you become a client of Intergenerational Wealth. Our Financial Planners can manage your position by liaising with Centrelink on your behalf, ensuring that you meet the ongoing requirements.

CENTRELINK AGE PENSION AND MAXIMISING ENTITLEMENTS

At Intergenerational Wealth, We can help you navigate the rules that Centrelink uses to calculate your financial situation, and structure a financial strategy that will enable you to maximise your government entitlements and provide you with the right amount of income to maintain your lifestyle throughout your retirement.

Related Links:

http://www.humanservices.gov.au/customer/services/centrelink/age-pension

https://www.centrelink.gov.au/RateEstimatorsWeb/publicUserCombinedStart.do