Pension Benefits

Elder Australian’s are able to attain allowances provided by Centrelink as a result of having insufficient private resources to fund their retirement.

The Australian Bureau of Statistics reported the predominant source of personal retirement income for both men and women was government pensions and allowances. Of the 3 million people who were retired from the labor force, only 1.7 million had made contributions to a superannuation scheme. These statistics indicate Australians who enter into retirement will eventually rely on the benefits provided by the Commonwealth Government through Centrelink.

The regulations and issues surrounding financial hardship of elder Australians are very complex and largely depend on the individual circumstances. Therefore this is an overview of the main benefits provided by Centrelink and an individual consultation will allow for advice which will maximise the benefits for elder people.

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