| Super Fund Members may be entitled to more Age Pension |
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The Government is encouraging Australians on a part-pension to tell Centrelink if they want to take advantage of Government changes to the amount the are required to withdraw from their Superannuation.
Persons receiving a pension from their super fund may only need to withdraw half the minimum amount they would otherwise be required to draw for their 2009 income year. Some part-pensioners may be entitled to an increase in their Centrelink payments because of changes to their drawdown level – therefore, they should inform Centrelink within 14 days, if they decide to choose to reduce the amount they draw down from their allocated or market linked income streams. They will need to provide Centrelink with an Income Stream Schedule as proof of the change, which will help Centrelink reassess pensioners’ entitlements to ensure they are getting the rate of payment they’re entitled to. |