Pension Bonus Scheme "Updated"!!!!!!!
BEWARE OF THE PENSION BONUS SCHEME!.
When I registered at age 65 I was advised of the Full amounts that I would claim when I choose any time after one year.
These are amounts presently:
One year: $1314
Two Years: $5256
Three Years $11,827
Four Years $21,026
Five Years: $32,853
Well what they did not tell me at that time was I would only get a % of the Bonus with relation to my wifes income.
There are several other reasons also that effect the Bonus.
I have worked on for three years (complying with all the conditions) (Would of worked on longer but found out all this) and to claim the bonus I am required to retire and claim age pension.
However I was advised by a Centrelink Financial advisor that due to my wifes income $1400 Gross per Fortnight I would get around $4000 another advisor said I could get $0 (Not $11,827) (We have no other income from investments etc.)
I was also advised if my wife salary sacrificed all her wages I could get close to the $11,827.
We decided to do this, as we would live on my Super, HOWEVER my wifes employer would not Salary sacrifice her wages as its not in their agreement! (Thats another JOKE where the Gov is encouraging and the employer refuses?)
Then after six weeks!!! I am told I cannot get the Bonus because I have not been in the country for ten years!! Contrary to what the Centrelink site says!!! So no Bonus for me!!!
So beware of the Pension Bonus Scheme, there are MANY HIDDEN FACTORS and you may just be working for nothing! (Like me)
Before entering the Scheme get Professional Advise for your situation. There are Many, many ,many hidden factors and for me it was all just a big con!!
PS:
After six weeks of my application for Age Pension & the Pension Bonus I have told them to Stick it!! I am just an everyday person and they have just gone on & on and I have got no where!. (NZ pays a proportion of my would be pension so wheres the problem)
I am an Australian Citizen and been here 8years and ten months and I am just the ave person with nothing!!!
I have many gripes with Centrelink and will be putting in a complaint covering the last three years of non performance by them.
Regards, Trevor Harris
Trev.. Pension Bonus Scheme.
It's always worth telling Cenrelink that you want their ruling reviewed by a higher authority, when there is such ambiguity.
You can challenge any ruling that Centrelink has made until you get to the top which is the "Tribunal" ...if you don't agree with the first review, request another and so on....The really knowledgeable staff are not the ones we meet in the Centrelink offices.. They are behind the scene and often in Canberra, and as the request for a review goes up the chain, you begin to get someone who really knows the legislation inside out
Centrelink themselves are aware that different staff interpret their rules differently.
Go for a review of any decision that Centrelink makes that you are concerned with, and as you probably already know keep notes of all conversations, dates and documentation and so on.... and good luck.
Bee