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Post by yobarr on Sept 30, 2024 13:02:24 GMT 10
Finally I have decided to "retire" ? and apply for a pension, although I may still do a bit of driving here and there.
Does anybody have any advice about, or experience with dealing with Centrelink that may be of assistance?
Must admit that I'm not looking forward to lining up with a bunch of so-called "jobseekers" whose main objective is to get as much money as possible for doing as little as possible, but I know of no alternative.
As for "jobseekers", they can't be looking too hard as there are literally thousands of employers looking for workers.
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Post by Mike Harding on Sept 30, 2024 15:26:23 GMT 10
Sorry, can't help but I'll be most interested to follow the thread.
I "retired" about 10 years past but did not claim anything from government however I've recently got to thinking about all the tax I've paid and observed that with inflation my capital has reduced so why not make a claim. As you say Yobarr, it seems many who can't be bothered to work are doing just that.
My understanding is that Centrelink's strong preference is for everything to be done over the internet, so forget the concept of standing in line but rather park yourself somewhere with good net access.
Let us know how you go.
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al42
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Post by al42 on Sept 30, 2024 17:10:02 GMT 10
The best thing we did was to find a good financial advisor. They looked at our assets,savings and investment properties. They then drew up a plan,explaining what we would receive from Centre Link as a part pension, and what we would receive from a Super Fund. Of course this is subject to financial conditions,which changes slightly at times. As you draw from your Super fund,that asset goes down,then your centre link pension goes up until you reach full pension. We took the plan in to Centre link,remember they are there to help you get the best outcome for you,they are very helpful.they said the it was one of the better plans they have seen. We have been retired 18 yrs. still go out twice a week for meals,still go caravaning,very contented
So how much did we need to retire on,less than $500,000
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Post by peter57 on Sept 30, 2024 18:16:10 GMT 10
I'll second that, Centrelink make it very easy and the people behind the counter couldn't do enough for you, good luck.
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Post by yobarr on Sept 30, 2024 18:56:59 GMT 10
Thanks Everybody, for your advice. Not being at all Tech Savvy, I am having all sorts of trouble getting any sense from the MyGov app where there seems to be much contradiction, but Peter's comment about Centrelink staff making it very easy has led me to decide to visit the local Centrelink office tomorrow.
Watch this space!
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rgren2
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Post by rgren2 on Sept 30, 2024 22:02:42 GMT 10
You can make an appointment, that way you avoid the queue.
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magnarc
Full Member
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Post by magnarc on Oct 1, 2024 7:56:43 GMT 10
Chris, go to a financial advisor. Best move we made. They look after all contact with Centrelink and our super by changing our portfolio when required to get the best results. We sit down with them once a year for updates and recommendations. The fees are reasonable at 1.5%. You will need to do some homework on whatever company you go with as there are some that are not up to scratch. We were lucky we went with ours after a chat with my then employer (if they were good enough for him I figured that they would be ok for us). I have been retired for 20 yrs and my super is still looking good. Best of luck with it Chris.
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Post by yobarr on Oct 1, 2024 8:50:21 GMT 10
Chris, go to a financial advisor. Best move we made. They look after all contact with Centrelink and our super by changing our portfolio when required to get the best results. We sit down with them once a year for updates and recommendations. The fees are reasonable at 1.5%. You will need to do some homework on whatever company you go with as there are some that are not up to scratch. We were lucky we went with ours after a chat with my then employer (if they were good enough for him I figured that they would be ok for us). I have been retired for 20 yrs and my super is still looking good. Best of luck with it Chris.
Thanks for the advice Phil. Already I have been in touch with a paid advisor but my first issue is getting the CRN(?) essential for progress. Once this has been obtained, I am told, they will handle all correspondence with Centrelink, advising of any changes to the rules and ensuring that I get all entitlements. Like Mike, I have not previously bothered with a pension but after paying many thousands of dollars in tax, over more than 50 years, I don't feel any guilt in now asking for a small return on that "investment". Cheers |
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ianlaw
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Post by ianlaw on Oct 2, 2024 6:20:44 GMT 10
We made an appointment with a Centrelink financial adviser who was very helpful and explained everything to us in plain english.
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al42
New Member
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Post by al42 on Oct 2, 2024 18:48:15 GMT 10
Once you get a CRN and apply for a pension,your entitlements start from that date.It did for us ,even though we had a hassle sorting out a problem with a redundant trust fund that took weeks of sorting out.
We had a few the hassles at the start.But once you are in the system everything flows smoothly.
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Post by yobarr on Oct 3, 2024 8:23:37 GMT 10
Once you get a CRN and apply for a pension,your entitlements start from that date.It did for us ,even though we had a hassle sorting out a problem with a redundant trust fund that took weeks of sorting out.
We had a few the hassles at the start.But once you are in the system everything flows smoothly.
Thanks for that advice. Procrastination always has been a good way of avoiding obligations, but the fact that entitlements start from the time the Pension application is made certainly is reassuring. Cheers |
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Post by toeknee on Nov 17, 2024 16:39:59 GMT 10
Once you get a CRN and apply for a pension,your entitlements start from that date.It did for us ,even though we had a hassle sorting out a problem with a redundant trust fund that took weeks of sorting out.
We had a few the hassles at the start.But once you are in the system everything flows smoothly.
Thanks for that advice. Procrastination always has been a good way of avoiding obligations, but the fact that entitlements start from the time the Pension application is made certainly is reassuring. Cheers It may be early days yet, yobarr, as it is only just over seven weeks, since your post. BUT... In my own experience, the Centrelink people do try to discourage you from receiving, what is rightfully yours, after a lifetime of paying taxes. I told them, that with all the scams, I was not interested in applying on-line. Eventually I received a part old age pension, at age 76. But as others have already said, once you are on their system, and not trying to hide any accumulated wealth, it will be all hokey dory. If you get on a full age pension, then you will have no more problems, if (like me) you only receive a part pension, then you have to let them know when your financial circumstances change, which I do every 12 months. The only general advice I can offer, is to keep your cool at all times, keep a copy of all paperwork you give them, and have them stamp that they have have received from you and faxed off to their superiors. |
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