Retirement Planning
1 minute read

Navigating the Centrelink Maze

Lifestyle Geelong 12 16 D220360
Navigating the Centrelink maze is no easy feat! That is why Lifestyle Communities® engaged the expertise of My Pension Manager at their recent seminars. Drawing on 30 years’ experience in the financial services industry, Alan Grimwood explained how Centrelink assess the age pension.
Alan made guests feel comfortable highlighting “there is never a silly question when it comes to Centrelink” which led to some important questions being asked and relevant topics covered.
Starting with an overview of the pension age (which is between the ages of 65 to 67 depending on when you were born) and the maximum fortnightly age pension rate (currently $926.20 for singles or $698.10 per person for couples). Alan went on to explain the assets test and income test in detail, which determines a person’s eligibility and rate of payment.
He clarified what Centrelink do count as an asset and what they do not. A person’s principal residence is often confused as being an asset. One of the common mistakes people make is to self-assess their situation and he gave examples on how My Pension Manager can assist people to ensure they are maximising the age pension.
Alan explained the benefit of living in a Lifestyle Community home, where if you are eligible for even part age pension, you are eligible for rent assistance.
He also pointed out that even if a person is above the assets test and isn’t eligible for payment from the age pension, there is still the possibility of being eligible for a Low-Income Health Care Card or Commonwealth Seniors Health Card.
My Pension Manager is an administration service specialising in:

Maximising your Centrelink entitlements
Age pension applications
A nominee service to deal with Centrelink
Aged Care information

Alan Grimwood can be contacted on 0437 787 244 or via Email: [email protected]