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.
Borrower eligibility extended and amounts increased.
Age pensioners can earn an extra $50 per fortnight without penalty.
Government forecasts $4.8b drop in budget over next 10 years.
It's possible for every Australian to live in retirement with dignity.
What are the Age Pension rules on returning to Australia?