Age Pension Advice

Expert Aged Care Financial Advice on the Gold Coast

As Australian’s, we are very fortunate to have a social security system that takes care of us; acting as our safety net during our pension years. However, it’s not an automated process, and it’s your income and assets which determine your pension entitlements and Centrelink benefits; the more you have, the fewer benefits you are entitled.

Knowing your entitlements and getting your entitlements are two different things. The process can be complicated and lengthy. And, without any prior strategies in place, you may not receive the maximum entitlements that you otherwise receive. Centaur Financial Services can help ensure you receive the maximum pension entitlements and Centrelink benefits you’re entitled.

Discuss the situation with our financial advice team. 

Benefits of Centrelink & Age Pension Advice

Planning is key to maximising pension entitlements and Centrelink benefits. A vital part of any planning process is knowing what your available resources are. This is where Centaur Financial Services can help.

Our role is to utilise leading strategies to assist you in maximising your social security entitlements which can help make your own money last longer. We do this by reviewing your current situating, and time permitting, strategise the best way to optimise your entitlements. We can determine which benefits you are entitled to and guide you through the complicated application process.

Centrelink Advice Benefits

How Our Gold Coast Advisors Can Help You

Whether you will be relying solely on the age pension as your primary income source or will be relying on it in conjunction with your superannuation withdrawals, we can liaise with Centrelink on your behalf to ensure you meet the ongoing requirements.

Our Gold Coast Centrelink and age pension advice service can:

Develop strategies to maximise entitlements
Help make your savings last long
Help you qualify for Centrelink
Help you prepare for means-testing
Liaise with Centrelink on your behalf
Apply for Pensioner Concession Card on your behalf
Apply for Disability Support Pension on your behalf
Apply for Commonwealth Seniors Health Card on your behalf
Save you time and avoid delays in the application process
pension help gold coast

Age Pension and your Superannuation

The amount of super you have can affect your age pension entitlements. In some cases, it may make you ineligible. How you decide to access your super may also affect your entitlements. Centrelink’s means assessment takes your super balance into account when calculating your age pension amount, and a lump sum withdrawal will have tax implications.

Once you reach your preservation age and have retired, you can transfer your super into your allocated pension account. If however, you have reached your preservation age and continue to work, you can set up a transition to retirement (TTR) strategy, which lets you access some of your super before retiring. Starting a TTP pension, or pre-retirement pension, allows you to transfer some of your super into your allocated TTP account.

In both cases, the super funds can top up Government Age Pension payments you may be entitled to receive. We can explore the best strategy to complement your pension payments while continuing to invest your money.

pension superannuation

Frequently Asked Questions About Centrelink & Age Pension

  • Who is eligible for an age pension?

    The eligibility requirements for age pension in Australia are:

    • You must reach your preservation age, which differs depending on your birth date, but is generally 66 years or over
    • You must meet the income and asset test for the age pension
    • You must have lived in Australian for at least ten years
  • How much is age pension in Australia?

    The age pension rate in Australia is dependent on your income and assets test and varies for singles and couples. The Normal Rates as follows:

    Per fortnight Single Couple each Couple combined Couple apart due to ill health
    Maximum basic rate $860.60 $648.70 $1,297.40 $860.60
    Maximum Pension Supplement $69.60 $52.50 $105 $69.60
    Energy Supplement $14.10 $10.60 $21.20 $14.10
    Total $944.30 $711.80 $1,423.60 $944.30
  • How much super can you have and still get the pension?

    Superannuation is counted as an asset, and as a single, you can have up to $268,000 in assets before it affects the age pension you receive. Once assets exceed $268,000, your pension is reduced by $3 for every $1000.

    Full pension:

    • Single homeowner can have $ 268,000 of assessable assets
    • Couple homeowners can have $401,500 of assessable assets
    • Single non-homeowner can have $797,500 of assessable assets
    • Couple non-homeowner can have $616,000 of assessable assets

    Part pension:

    • Single homeowner can have $583,000 of assessable assets
    • Couple homeowners can have $876,500 of assessable assets
    • Single non-homeowner can have $797,500 of assessable assets
    • Couple non-homeowner can have $1,091,000 of assessable assets
  • What is the asset test for age pension?

    There are two tests for age pension; income and assets test. The assets test looks at assets such as business assets, investment properties, shares, house contents, superannuation, cars, boats and caravans. It’s important to note that your home is not classed as an asset. Overseas assets are also taken into account.

See what our happy client's have to say about us!

If you are looking for a company that will go above and beyond to look after you and your money, you can do no better than Centaur Financial Services. Real People, Real Service and Real Returns.
Karen Hobbs
Karen Hobbs
07:26 24 Nov 20
Hugh has been our financial advisor for over ten years. We have always felt very comfortable and confident, trusting in Hugh’s knowledge and strategies in his industry. The Centaur team are friendly and efficient and would have no hesitation in recommending Centaur Financial Services to anyone looking for financial advice.
Pam Lindores
Pam Lindores
06:38 24 Nov 20
Hugh has always made us feel comfortable in every interaction we have had with him and his team, very professional but to a standard that we as non financial experts understand what he is talking about, we feel his advice to us has always made sense.
Peter Craig
Peter Craig
10:12 23 Nov 20
I have felt comfortable from the outset with all interactions with Hugh and the crew. It is nice to feel this way and I feel a rare experience in our current business climate.
Linda Leighton
Linda Leighton
10:03 23 Nov 20
Could not be happier with how our Super is being handled. Hugh and the pleasant girls at Palm Beach would literally bend over backwards for any of their clients.We would not hesitate to recommend Centaur Financial Services to anyone that is looking for a reliable and honest crew to look after their financial affairs.
Ronnie Foley
Ronnie Foley
05:30 07 Aug 20
I have found all members of Centaur staff to be unfailingly prompt, efficient and considerate. They have all seen me through some difficult personal issues and i would have no hesitation in recommending the firm to anyone in need of financial planning assistance or advice.
Ronald Black
Ronald Black
03:59 23 Jul 20
I have known Hugh for more than ten years and have always found him approachable, direct and very client centric. Hugh was a deserved winner of the 2018 AFA Adviser of the Year award, an award which eclipses all others in the advice profession. Hugh and his team at Centaur support many Australian families on their financial journey with advice that provides certainty and peace of mind.
Marshall Brentnall
Marshall Brentnall
23:05 30 Oct 19

Need Centrelink & Age Pension advice on the Gold Coast?

Turn to Centaur Financial Services’ expert Pension Advisors. Maximise your pension entitlements and Centrelink benefits today.

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