topic Aged Pension in Community Spirit

Aged Pension

grandmoon — Fri, 15 Feb 2013 23:40:11 GMT

Can someone please let me know what assets a single person who owns their own home have to be eliable for a full or part pension.

This person who worked in the construction area when they didn't have superannuation until mid 1990's

Re: Aged Pension

katydidthat — Fri, 15 Feb 2013 23:43:42 GMT

http://www.humanservices.gov.au/spw/corporate/publications-and-resources/resources/co029/co029-1209en.pdf

This should tell you exactly what you need to know. It gets updated every three months, but not too much changes.

Re: Aged Pension

grandmoon — Sat, 16 Feb 2013 00:07:32 GMT

http://www.humanservices.gov.au/spw/corporate/publications-and-resources/resources/co029/co029-1209en.pdf

This should tell you exactly what you need to know. It gets updated every three months, but not too much changes.

Thank you but unfortunately I am unable to open that website.

Re: Aged Pension

purple_haize — Sat, 16 Feb 2013 00:15:19 GMT

I just tried that website and it opened for me.

Re: Aged Pension

katydidthat — Sat, 16 Feb 2013 00:15:31 GMT

Did you try right clicking it? It opens fine for me on google chrome.

You can google Centrelink A guide to Australian Government payments - it has a green, black, grey and white cover page. It is something EVERYONE should have a copy of.

Chart A—Assets test limits for
Allowances and Full Pensions

Single $192,500

Chart B—Assets test limits for
Part Pensions

Single $707,750

Both for homeowners.

Re: Aged Pension

jean2579 — Sat, 16 Feb 2013 00:17:42 GMT

grandmoon, I hope that this works.

Age Pension
Basic conditions of eligibility
• Men born before 1 July 1952 are eligible at age 65.
• Women born before 30 June 1947 have reached the
qualifying age for Age Pension.
• For women born between 1 July 1947 and 1 July 1952,
see table below:
Women born between Eligible for Age
Pension at age
1 July 1947 and 31 December 1948 64½
1 January 1949 and 30 June 1952 65
• For both men and women born on or after 1 July 1952 see
table below:
People born between Eligible for Age
Pension at age
1 July 1952 and 31 December 1953 65½
1 January 1954 and 30 June 1955 66
1 July 1955 and 31 December 1956 66½
1 January 1957 and later 67
Residence requirements
• Must be an Australian resident and in Australia on the day
the claim is lodged, unless claiming under an International
Social Security Agreement.
• Must have been an Australian resident for a total of at least
10 years, at least five of these years in one continuous
period, or
• Certain periods in countries with which Australia has an
International Social Security Agreement may count towards
Australian residence, or
• Have a qualifying residence exemption (arrived as refugee
or under a special program), or
• A woman who is widowed in Australia, when both she and
her late partner were Australian residents and who has 104
weeks residence immediately prior to claim, or
• Person was in receipt of Widow B Pension, Widow
Allowance or Partner Allowance immediately before turning
pension age.
• Can generally be paid for the total period of absence from
Australia (some exemptions may apply), however, after
26 weeks the rate may change.
Note: special rules in the case of travel to New Zealand, or if
covered by an International Social Security Agreement.
Basic rates
Status Pension rate per fortnight
Single $712.00*
Member of a Couple $536.70*
*These amounts exclude the Pension Supplement which
pensioners may receive as an additional payment to the base
pension. See Pension Supplement (page 29).
• Paid fortnightly to bank, credit union or building society
account.
• If a couple is separated because of illness, they may
each be able to be paid at the single pension rate. The
combined income and assets of the couple are used to
work out their rates.
• The single rate may be payable to one member of a couple
if partner not receiving payment is imprisoned or in a
psychiatric hospital.
• Partnered rate payable to one member of a couple if
partner is not receiving a pension, benefit or allowance.
• Not eligible for Education Entry Payment or Pensioner
Education Supplement.
• An advance may be available in certain circumstances.
Pension Reform Transitional Arrangements
Pensioners receiving payments at 19 September 2009 did not
receive a payment reduction because of the changes made
to the pension system from 20 September 2009 (including
changes to the income test taper rate, the Work Bonus
and removal of higher income test free area for pensioners
with dependent children). Some pensioners will be paid a
transitional rate until the new rules provide an equal or better
outcome for them. The transitional rate is based on the
income test rules and payment rates (indexed to CPI) that
applied before 20 September 2009. Please contact us for
more information.
Rent Assistance
• See Chart F (page 35).
• Rent assistance is not payable to blind pensioners who are
not subject to income and asset testing. Please contact us
for more information.
Income test
• See Chart C (page 32).
• No income test on the basic rate for age pensioners who
are permanently blind; however, these pensioners may be
affected by the special arrangements for compensation
payments (see page 33 for more information).
Assets test
• See Chart A (page 31) for full pension limits.
• See Chart B (page 31) for part pension limits.
• Hardship provisions may apply.
• No assets test on the basic rate for age pensioners who
are permanently blind; however, these pensioners may be
affected by the special arrangements for compensation
payments (see page 33 for more information).
13 of 40
Pension Bonus Scheme
Basic conditions

Re: Aged Pension

grandmoon — Sat, 16 Feb 2013 00:30:52 GMT

Thanks the that information. He will be off to Centrelink on Monday as I read it he is intitled to a pension. He is now 68 and isn't well enough to do the work he has been doing for the last 40 years.

He was told by people who think they know everything that he wasn't intitled to a pension.

Re: Aged Pension

katydidthat — Sat, 16 Feb 2013 00:49:18 GMT

I'd advise him to be very clear on the value of his assets ... get him to ring Centrelink early Monday morning and check what the latest definition is. It used to be "what you could sell your possessions for, if you sold them today", I'm told it's now changed, but no-one knows what the new definition is.

So, for example, my books wouldn't be worth anything like what I paid for them. Similarly, even a new car loses value immediately after you pay for it.

It will also speed things up if he prints out his bank balances with account details.

He can probably look at the forms on www.centrelink.gov.au ... if he's been self-employed, he'll probably have to complete a profit and loss statement.

Re: Aged Pension

kengillard — Sat, 16 Feb 2013 01:27:01 GMT

Tell him to ring Centrelink and make an appt with a "Financial Advisor"....otherwise he'll be waiting for hours...and also ask them what they need him to bring with him.

Re: Aged Pension

serendipityricho — Sat, 16 Feb 2013 01:41:39 GMT

He will need an original birth certificate.

Re: Aged Pension

lind9650 — Sat, 16 Feb 2013 10:31:56 GMT

Tell him to ring Centrelink and make an appt with a "Financial Advisor"....otherwise he'll be waiting for hours...and also ask them what they need him to bring with him.

This is the most correct answer.

Phone conversations get mixed up between people that know a little or nothing. Going to Centerlink without an appointment, causes a frustrating wait, and by that time one forgets half the questions one should ask.

Erica :-x

Re: Aged Pension

kengillard — Sat, 16 Feb 2013 23:20:51 GMT

birth cert. OR a passport