Many retirees are eligible for a part or full aged pension, or a government subsidy in one form or another. If so, this might be your greatest income stream. But remember, that your other streams of income can deeply impact on your government benefits.
The most important thing to do if you are receiving a government benefit is to tell the truth about all of your assets and income. All of the information that you need to know about the aged pension can be found through the Department of Human Services or by visiting your Centrelink office. You can call the service on 132 300.
Depending on what year you were born, the age of eligibility to receive the aged pension varies between 65 years and 67 years of age. In most circumstances you’ll need to be an Australian resident to apply for an aged pension and be in Australia when you apply. Your income and assets will affect your eligibility to receive the aged pension too. These assets could include your own home, superannuation accounts, shares and other assets and streams of income.