The Age Pension is a support payment from the Federal Government that you can access once you reach the pension age and if your income and/or assets are under the applicable limits. Depending on your circumstances you may be able to access a full pension or a part pension.
You can receive the age pension straight away once you reach the required age or can hold off until after your superannuation is under the applicable income and asset limits.
A financial adviser will be able to explain how you can access your pension and any impact it has on accessing aged care services.
If you're a veteran, war widow or widower, you may be able to access additional financial supports through the Department of Veterans' Affairs (DVA). There are a number of different payments that you could apply for ranging from income support and housing assistance to support with accessing health services.
A financial adviser will be able to assist in working through the different options available to you and how you can make the most of these supports.
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If you are wanting to apply for the Age Pension, you need to make sure you put aside time to prepare all the documents that are required.Read more