The Australian Government provides an Age Pension as a safety net for eligible citizens who cannot fully fund their own retirement through retirement savings. Managed by and paid for via Services Australia, or Centrelink as its more commonly known, there is strict eligibility criteria, which includes residency period, age qualification and an assessment of income and assets. Due to this criteria, not every Australian will be eligible for an Age Pension.
Biggest pension increase in seven years not enough to keep up with cost of living.
Actuaries Institute says retirement system must be fairer, simpler and more efficient.
Changes set to kick in from 1 July could provide a big boost for some pensioners.
Labor claims government has plans to introduce cashless welfare card for pensioners.
Expert says new data proves older Aussies are asset rich.
A majority of Australians think the Age Pension should be increased.
Noel Whittaker says switching banks regularly for an extra 0.5 per cent is a mug's game.