Centrelink payments are generally classified as pensions or allowances. Typically pensions are longer-term benefits, and allowances are shorter term.

Some of the major pensions available include:

• Age Pension - a payment available to people who are not able to fully provide for themselves in their retirement.
• Carer Payment (Pension) - help when you are caring for someone who has a medical condition.
• Disability Support pension - help when you have a disability, sickness or injury.

Some of the major allowances available include:

• Newstart Allowance - for people who are unemployed or are temporarily unable to work due to illness, injury or disability.
• Widow Allowance - a payment for older women, who become widowed, divorced or separated later in life and who have no recent workforce experience.

Part of a sound financial strategy should include the assessment of your Centrelink entitlements. At Lifetime Financial, your adviser will analyse, research and calculate the best structure to help maximise any potential government benefits. In addition, we may deal directly with Centrelink on your behalf, completing applications and checking the accuracy of all payments.
This improves the protection of our clients’ capital and creates the most efficient income stream for their wealth.