Centrelink offers free money advice

There no one better suited to help you make informed financial decisons about your Age Pension and entitlements than Centrelink.

Navigating the difficult web of information and potential entitlements can be tricky, and if you try and do it all on your own, it is possible to miss things or make a misstep that could end up affecting your Age Pension.

Fortunately, Centrelink runs a Financial Information Service (FIS) via seminars, one-on-one appointments or telephone discussions.

Independent officers can help you with financial information to enable you to make informed investment decisions. They will also have a look at your current situation and inform you about the Centrelink benefits to which you are entitled.

Speaking to an FIS officer can increase your confidence in financial matters, such as investments, salary sacrifice and superannuation, and help you understand your own financial situation and options.

FIS officers can also help you plan your retirement and teach you how to use credit wisely, while explaining the risk of certain financial products and teaching you how to increase your overall retirement income.

While they are an invaluable resource, there are a number of things FIS officers will not do. For example: they will not recommend investments or a specific financial adviser, or specific financial products.

To make an appointment with a Centrelink Financial Information Services officer, call 13 2300, or visit Centrelink.gov.au.

Have you ever used Centrelink’s Financial Information Services? Did you find it helpful? Would you recommend it to other YourLifeChoices members?

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Written by Ben

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