Pension questions.

[Malcolm]

I am working, and can continue to do so right now. I have reached pension age and to be honest, I couldn't live on the pension without doing some work. The only benefit I can see is the health care card, free license and registration. There's a part pension, which gives you a commonwealth, states and territories seniors card, which only gives a discount on prescriptions on the PBS, in NSW anyway.
Some sites I've looked at state that I can earn a maximum of $164 per fortnight before losing 50c in the dollar. Then there's Centrelink that has a Work Bonus Scheme that says I can earn $250 a fortnight without affecting the benefit. Up to $6500.
I think I've got my head around the WBS. Example, if I earn $200, then I have $50 in the pot, so to speak. Next fortnight, if I earn $150, then I have $150 in the pot. Up to the max of $6500. After that?
If anyone has any experience I'd appreciate a bit of help before I bite the bullet and give a notice of intention. Cheers, M.

[speach (Simon)]

These are questions only Centrelink can answer for you. Good luck with that!!!!

[Malcolm]

Yes well, we all know how good they are at answering their phones.....

[Merlin66 (Ken)]

You'll also find the amount of pension you can claim will be "means tested" against your saving and super.

[glend (Glen)]

If you have Superannuation, and everyone does these days, you can get an allocated pension from that. Centrelink will not look at your house, it is exempt in relation to the Assets test, but the Super Allocated pension and any other investments will be looked at in relation to what Centrelink will pay to you, even a part pension can be very useful. The health card type benefits can be very important to many people even if its just used to get the discounted pharmacy charges (like total charges of $5-6 per script).
There are many online pensiom calculators, and most Super funds provide advice freeto members.
I would find out what you can, before you approach Centrelink, and don't bother phoning them it's a waste of time, go in to see them in person.

[Exfso (Peter)]

Malcolm, there is no such thing as free license and rego, they are slightly discounted, but definitely not free.

[glend (Glen)]

Originally Posted by Exfso

Malcolm, there is no such thing as free license and rego, they are slightly discounted, but definitely not free.

In NSW, where Malcolm lives, vehicle registration is free to pensioners (for one vehicle), as is license renewal. You still are required to pay the CTP Greenslip charge, but Registration is free.

[Exfso (Peter)]

Wow, I am moving to NSW, SA gives you jacksh1t

[rrussell1962]

I'm not giving financial advice, but have you asked somebody who does, or researched yourself, transition to retirement superannuation?

[I.C.D (Ian)]

Originally Posted by Malcolm

I am working, and can continue to do so right now. I have reached pension age and to be honest, I couldn't live on the pension without doing some work. The only benefit I can see is the health care card, free license and registration. There's a part pension, which gives you a commonwealth, states and territories seniors card, which only gives a discount on prescriptions on the PBS, in NSW anyway.
Some sites I've looked at state that I can earn a maximum of $164 per fortnight before losing 50c in the dollar. Then there's Centrelink that has a Work Bonus Scheme that says I can earn $250 a fortnight without affecting the benefit. Up to $6500.
I think I've got my head around the WBS. Example, if I earn $200, then I have $50 in the pot, so to speak. Next fortnight, if I earn $150, then I have $150 in the pot. Up to the max of $6500. After that?
If anyone has any experience I'd appreciate a bit of help before I bite the bullet and give a notice of intention. Cheers, M.

Hi Malcolm been their done that and got the pension it will take time ,it took me 6 months to get the pension but when you do get you will get back paid .Their is one way when ring centrelink Use a land line find out what time the phone lines open start to ring before they open and keep ring until they answer it may take 10 to 20 min to get through ,if you wait till later in the day it will take upto 2 hours to get through.As far as going to the centrelink office they may help but they will tell you ring the phone number ,Good Luck Ian

[sil (Steve)]

Centrelink are the most useless lot and they treat everyone like ****. As Ian said, use land line, ring constantly early. Take note of everything, the person you speak with are not likely well informed and usually follow a cheat sheet/online app like most support lines do. Much of the procedures are open to interpretation too, but with a bit of research you can find the relevant legislation document that governs them. This can help but also hinder, processes often take you in circles but where theres doubt in understanding things usually fall in favour of the government, NEVER your favour. I work in a gov dept and am partially disabled and fought many battles against procedures only to find the legislation specifically blocks me from doing anythng and protects the department from responsibility in that situation. If you have a financial advisor or accountant speak to them about options you should look at. Centrelink are just public servants and will point you to a common answer, not necessarily the best for you.
Also speak with your GP they may know and support you accessing a medical based option that would suit you better. Centrelink only act in the governments interests, your GP may have been through this with other patients and be able to help with something thats in your interest.

[Merlin66 (Ken)]

Reading this thread......I've got to ask; what's the real benefit of saving and scraping over the years to build up a half decent super???
I thought with the sacrifices made we were not going to be a burden on society and live "state pension free" - but there are NO perks for doing this - no free medical, transport etc etc. Instead we have to hope that Trump doesn't screw everything up and we loose the meagre dividends which support us.

[glend (Glen)]

Originally Posted by Merlin66

Reading this thread......I've got to ask; what's the real benefit of saving and scraping over the years to build up a half decent super???
I thought with the sacrifices made we were not going to be a burden on society and live "state pension free" - but there are NO perks for doing this - no free medical, transport etc etc. Instead we have to hope that Trump doesn't screw everything up and we loose the meagre dividends which support us.

Super is compulsory, paid by your employer, no one forced you to contribute extra, although there was a tax advantage (salary sacrifice) at the time if you did. For many of us,
Iike myself, Super was not in effect for our entire working lives, in fact we may only have contributions since Paul Keating made it compulsory. Unlike my kids who have had employer payments since they started working. So of course in that sense the compounding effects of say 40 years of contributions have not grown the balance. Our system is much much better than the US system, where the vast majority have nothing more than Social Security payments to fall back on, unless they are the wealthy elite. The best Super you can have is to own your own home, debt free, prior to retirement. Leveraging your home, downsizing, etc can seriously boost your wealth in retirement, and the home is tax free and asset test free. I live comfortably on my Super and Part Pension, but my Super was boosted through rolling over two redundancy payments when i was working. Super balances have enjoyed great returns, as long as your not sitting with it in cash rate assets. I withdraw only 5% per annum in my allocated pension, the minimum required by the government, and my balance is greater now than when i started because of growth.
Everyone's circumstances are different, but there is far more right about our system than what might be wrong about it.

As to the comments below about Centrelink staff, who would want that job? The call centre zombies just read back scripts that might apply to your questions. Talking to a real person, there in front of you, in a Centrelink office is likely to get you much further. In my experience, there are some really helpful people at Centrelink offices, not all of them, but if you find the right one they are like gold in terms of advice and guideance through the system. I would never go into a Centrelink office in the city, but in regional areas like mine, they are, imho, much more helpful. Once you get over the initial pension application process things get much easier in dealing with them.
In fact through the MyGov website now, all of your interactions can be mostly handled remotely, and you can edit your asset register (used to assess your entitlements) at any time as circumstances change. For example, if your car has dropped in market value you can amend it in your asset register, and this can potentially lead to a part-pension increase or offset Super balance growth. Super funds are required to report your balance to Centrelink twice a year, and changes to that balance can affect your pension. Its just a system that everyone needs to understand and learn how to use to their advantage. Just complaining will get you nowhere.

[AstralTraveller (David)]

Originally Posted by sil

......Much of the procedures are open to interpretation too, but with a bit of research you can find the relevant legislation document that governs them. This can help but also hinder, processes often take you in circles but where theres doubt in understanding things usually fall in favour of the government, NEVER your favour. .....

Back in the dim and distant past (early 80's) I worked for the DSS in the dole office (sorry USB). It's true that the Dept was governed by the Social Security Act but that didn't mean I could read the act and interpret as I saw fit. There was a second, much larger, document, the SS Manual (or something to that effect), which contained the Dept's interpretation of the Act. Staff were constrained to follow the procedures and interpretations in the manual. This continued right through all the internal appeal processes. However, if the case reached the Administrative Appeals Tribunal they were not bound to follow the Manual and could interpret the Act as they believed appropriate. When I was trained in the operation of the AAT we were shown plenty of cases where the AAT ruling was at odds with the Dept's Manual.

My own experience with the AAT involved my wife's claim for Ausstudy. The dept interpreted a clause about previous study in a certain way and denied her claim. Knowing what I do, we took it to the AAT. When the AAT panel convened in the Wollongong office I was pleased to see that they were a bunch of Sydney inner-city lefties. They apparently thought that anyone trying to better themselves deserved support and so found grounds to uphold her claim. [She completed a PhD and now works as a research assistant, thus justifying the panel's faith in her.]

Of course my information is quite old and may be out-of-date but that's how it used to be.

[speach (Simon)]

When and if you get through to Centerlink ask for a reference number for the conversation as all calls are recorded, then if you at a later date get a case brought against you for non compliance you will be able to site (?) the particular conversation that you based your action on

[glend (Glen)]

Originally Posted by speach

Went and if you get through to Centerlink ask for a reference number for the conversation as all calls are recorded, then if you at a later date get a case brought against you for non compliance you will be able to site (?) the particular conversation that you based your action on

Everyone who deals with Centrelink gets a Customer Reference Number which is theirs for life. Heck my baby grand child has one, it was required (assigned) to get the baby bonus, it will be hers for life.

[speach (Simon)]

Originally Posted by glend

Everyone who deals with Centrelink gets a Customer Reference Number which is theirs for life. Heck my baby grand child has one, it was required (assigned) to get the baby bonus, it will be hers for life.

Not customer ref number that's your CRN as you say every one that has anything to do with C/L has one of those. But a reference number for the phone conversation you are having at that time really to protect yourself you should get one for each and every phone conversation you have with them. You should note the number down and the date, and may be a precis of the conversation.