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GOVERNMENT BENEFITS

Are you eligible for government benefits?

The Australian Government Age Pension is designed to be a safety net for people who cannot fully provide for themselves financially in retirement. However, for the majority of people, the Age Pension is considerably less money than they are used to living on and would like to receive during their retirement years.

Eligibility

When determining your eligibility to receive the Age Pension, Centrelink applies two forms of assessment the 'income test' and 'asset test'. Centrelink uses whichever test provides the lowest rate of pension payments. Understanding how the tests apply can be complex.

What you need to know

There are many different strategies available to organise your finances in retirement in order to qualify for a part or full Age Pension. Quite often, people who don't think they qualify find that they can claim a part or full Age Pension after receiving professional financial advice.??

Even if you don't qualify for the Age Pension there are also other benefits available such as the Commonwealth Seniors Health Card (CSHC). The CSHC provides a range of benefits, such as discounts on public transport and pharmaceuticals to self-funded retirees who do not qualify for the Age Pension but meet other eligibility criteria.

Determining whether you are eligible for benefits can be a difficult and time consuming process so make sure you have access to the right advice.

Count on us

A Count adviser can help you:

  • Understand whether you are eligible for benefits

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RMDP Pty Ltd t/as 360FG Financial Services is an Authorised Representative of Count. 'Count' and Count Wealth Accountants® are trading names of Count Financial Limited, ABN 19 001 974 625 Australian Financial Services Licence Holder Number 227232 ("Count") a wholly-owned, non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124. Count is a Professional Partner of the Financial Planning Association of Australia Limited. Please note that any taxation and accounting services are not endorsed nor the responsibility of Count Financial Limited.

Please note any taxation or accounting services are not endorsed nor the responsibility of Count Financial Limited.

General advice warning:  The advice provided is general advice only as, in preparing it we did not take into account your investment objectives, financial situation or particular needs. Before making an investment decision on the basis of this advice, you should consider how appropriate the advice is to your particular investment needs, and objectives. You should also consider the relevant Product Disclosure Statement before making any decision relating to a financial product.

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