Tag Archives: Centrelink

No September Age Pension Increase this Year

December 16, 2020

Age Pension payment rates are usually increased every six month – on 20 March and 20 September – to maintain their real value over time. On 20 September 2020, for the first time in more than 20 years, the Age Pension rates did not increase. This is due to the method of pension indexation, and […]

Splitting Super Contributions with your Spouse

October 18, 2019

Many people don’t know that from 1 January 2006 it has been possible to split certain superannuation contributions with their spouse. At the end of each financial year, you can apply to the trustee of your super fund to split the previous year’s concessional contributions with your spouse.  This is different from making a spouse […]

New Work Test Rules for Older Australians

July 16, 2019

Previously, those 65 and above needed to have been gainfully employed for at least 40 hours over a period of 30 consecutive days (the work test) during the financial year before they could make voluntary superannuation contributions. From 1 July 2019, some people are now able to access an exemption to the work test to […]

Pension Loan Scheme

April 17, 2019

What is it? The Pension Loan Scheme (PLS) is a voluntary reverse equity mortgage provided by Centrelink. This scheme offers older Australians an income stream in the form of a loan to supplement their retirement income. Who can currently get it? Currently part-pensioners and some self-funded retirees who own a property in Australia can access […]