Depending on your circumstances, you may be eligible to receive financial assistance from the Australian Federal Government via Centrelink.
Your eligibility is determined by a number of factors including your level of accumulated wealth and assets, your age, and also residency requirements.
Government legislation is constantly changing and this may impact you entitlements. Retire on Track can help you to understand how legislative changes may impact your circumstances and we can advise you on ways to minimise negative impacts and maximise your entitlements.
For example you may not be aware… that from 1 January 2017, more than 300,000 Age Pensioners will have their Age Pension cut, with just under 100,000 of those affected Australians losing all Age Pension entitlements. This is a direct consequence of policy measures announced in the May 2017 Federal Budget. Whether this policy becomes law remains to be seen, however it’s important to know where you stand should these changes come into effect.
At Retire on Track, we can provide you with advice and strategies to ensure that you receive any Centrelink payments you may be entitled to receive.