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Access to Centrelink benefits depends upon:
- The level of assets you have.
- Where you invest those assets.
- The income those assets are deemed to produce.
People who intend to rely solely on the Federal Government's age pension may need to consider whether this will be enough for a comfortable lifestyle. Subject to eligibility, the maximum full age pension pays just over $546.80 per fortnight for a single person and just under $456.80 each per fortnight for couples.
*This payment includes a pension supplement that is currently: single $18.80, couples $15.80 each. Couples separated due to ill health can receive $18.80 each.
Source. Centrelink, 20 March 2008.
If you are about to retire or have retired and you are receiving payments from a retirement income stream, you may be eligible for Centrelink benefits. We recommend you seek professional advice to determine the effects that your investments may have on gaining access to entitlements.
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