Important details on how your income stream information is updated

Font Size:

Updating Income Stream Information
Hi everyone, I wanted to chat about income stream reviews and how they may affect your Age Pension and eligibility for concession cards.

An income stream is a series of regular payments from accumulated superannuation contributions. This is retirement income you receive from an organisation or superannuation fund.

Services Australia assesses income from income streams for the purposes of Centrelink payments and concession cards. Each year we do income stream reviews to make sure our information remains current.

To do this, we collect details about the income stream products you and your partner have.

The process is easy, and you don’t need to do anything. We’ll contact your provider for your income stream information twice a year – in February and again in August. The information from your provider is then added to your Services Australia customer record, which automatically completes the review of your income stream.

In some cases, we may send a letter directly to you to ask for the information we need. We would only do this if your provider didn’t provide us with the information, or if you have an income stream product type that is not subject to an automated review.

Some people may have more than one income stream. In these cases, the same process is applied to all income stream products.

Getting the most accurate information from your income stream provider allows us to pay you the right amount of pension for your situation, and confirm your eligibility for concession cards. However, it’s important to know these reviews could also mean a change in your rate of payment. If the information affects your pension payment or concession card, we’ll send you a message through either your myGov account inbox, or mail you a letter.

We will send letters out in August to review income streams from self-managed superannuation funds.

You can also update your income stream balances yourself at any time through your myGov account.

You can get more information by heading to

Until next time,

Hank Jongen
General Manager
Services Australia

Have you got a question for Hank? Email [email protected] and he’ll try and answer your questions in next month’s column.

If you enjoy our content, don’t keep it to yourself. Share our free eNews with your friends and encourage them to sign up.

Join YourLifeChoices today
and get this free eBook!

By joining YourLifeChoices you consent that you have read and agree to our Terms & Conditions and Privacy Policy


Middle-aged Australians struggle to claw back their careers after COVID-19

Experienced older Australians finding job opportunities are drying up.

JobSeeker cuts to hit older Australians hardest

Government research shows older Aussies more reliant on JobSeeker supplements.

Older Australians pessimistic about employment prospects

Survey shows just 13 per cent of people believe Centrelink rules will help them find a job.

Written by Hank Jongen

Hank Jongen is the human face of Centrelink, a government agency on behalf of the Department of Human services, responsible for $100 billion in funds, 40,000 staff and 99% of the Australian population at some stage or another


Total Comments: 2



continue reading

Travel News

Travel refund problems a 'dreadful, dreadful situation': ACCC boss

Travel-related consumer complaints have risen by 500 per cent since January 2020, with thousands of Australians unable to get refunds...

Aged Care

Whistle-blower family welcomes aged care recommendations

When Barb Spriggs found her husband lying on the ground of the Oakden aged care facility with two nurses standing...


How do different painkillers work?

It's easy to assume the only difference between painkillers is their strength. Or that any painkiller you can buy without...

Food and Recipes

Cinnamon and Honey Breakfast Jars

"If you have to be up early and you need something speedy, this is the perfect go-to breakfast," says Bake...

Aged Care

It starts with the fundamentals: adequate staffing, adequate food

There have been 22 public reports and inquiries related to publicly funded aged care in Australia since 1997. Will this...


Government reveals details of unit established to bust vaccine myths

With 300,000 doses of the AstraZeneca COVID-19 vaccine arriving in Australia on Sunday, the rollout is starting to speed up,...


Making it easy to buy Australian

Research shows that since the pandemic an overwhelming number of Australians want to buy locally produced products to support the...


What your car costs - the surprising costs of driving a ute or SUV

Recent research by Finder shows Australians could be paying thousands of dollars more than necessary to keep their car running....