Changes to Centrelink

At Hunter Financial Planning, we like to keep our clients fully informed of any legislative changes that may impact them now or in the future.

Changes are being introduced by the Government which will impact how Centrelink assess superannuation account-based income streams and account-based pensions, which may affect your fortnightly payments should you receive a payment from Centrelink.

From 1st January 2015, all financial assets will be assessed under the same rules. Account-based income streams and account-based pensions which are established before this time will continue to be assessed under the existing legislation.

For further information on how this may affect you or your family please see the following link:

http://www.humanservices.gov.au/customer/news/the-assessment-of-account-based-income-streams-is-changing

 It’s important to remember that changing your account-based pension provider or updating your existing account-based pension after 1st January 2015 may result in a negative change in how your Centrelink is calculated. 

We have written to our clients who may be impacted by these changes. Thankyou for returning your documentation. Should you have any further questions on how this may affect you or someone in your family, please contact the office on (02) 4943 4876.