How do I start my retirement?

Robert is planning on retiring but isn’t sure when he should apply for an Age Pension.

How do I start my retirement?

Robert is planning on retiring next year but isn’t sure at what stage he should apply for an Age Pension, or whether he is even eligible.

Q. Robert
I will reach Age Pension age early next year but don’t know how to start the process of retirement. I have never had any dealings with Centrelink and don’t know whether I need to contact them, if they will contact me or if I will even be eligible to receive the Age Pension. Can you point me in the right direction?

A. Robert, working out where you stand financially is the critical first step in planning your retirement.  At any time, you can make an appointment to speak to a Centrelink Financial Information Services Officer (FISO) who will be able to discuss with you whether your assets and income will affect payment of the Age Pension, how to claim, and which concession cards may be available. You can make an appointment by calling 13 2300.

You can also view the current income and asset limits that apply, but you will need to be aware that there may be other factors taken into consideration when assessing your eligibility for the Age Pension.

Of course, you may decide to continue working after you have reached Age Pension age. If this is the case, the Work Bonus may enable you to receive a part or full pension. Under the Work Bonus, the first $250 of any fortnightly income will not be assessed. If you undertake seasonal work, this amount can be annualised. Find out more about the Work Bonus.  

YourLifeChoices has produced a guide, Your retirement and the Age Pension, which simplifies many of the rules surrounding the Age Pension. You can download a free copy by clicking on the link below.

Download the free Your retirement and the Age Pension guide.


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    4th Aug 2016
    Poor Robert is in for a BIG surprise.
    4th Aug 2016
    He should make that Centrelink call now in the hope it will be answered by the time he retires!
    4th Aug 2016

    4th Aug 2016
    Debbie, you say to call Centrelink.

    Have you tried that recently? Typical response is a delay of over an hour, or the call simply dropping out after 40 minutes.

    Got a better idea?
    4th Aug 2016
    Or you get some cretin on the line who hangs up when your question takes some thought to answer.
    4th Aug 2016
    Robert....go to a CentreLink Office, get the forms you need to complete for the Age Pension and make a booking to go back when you've retired and lodge your application.
    4th Aug 2016
    I support Mickos comments. You can apply for the age pension prior to meeting the age requirements. Currently Centrelink are taking between 60 and 90 days to process a pension application so I would do it 3 months before reaching retirement age.
    15th Aug 2016
    Greetings! I want to say a big thanks for this valuable post. It is not everyday that I have a possibility to see something like this. I like the way you write. I am hoping the same best work from you in future. Don't waste your time on doing boring paperwork - can do it for you quickly and quality.
    9th Feb 2017
    mostly very good comments by everyone.
    One thing I would add; it is a strategy by the current govt pollies to do like as follows
    - telephone response delays of hours
    - calls dropping out
    - hanging up when your question takes some thought to answer
    this discourages those applying for such as the OAP etc.
    Which means more money for the pollies to waste like the travel perks, obscene perks and salaries etc etc

    23rd May 2018
    Wow, your story is incredible, it reminded me my old friend from . He had the similar experience.

    9th Jul 2019
    Greetings! I want to say a big thanks for this valuable post.

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