Anthony Wladysiuk - Age Pension Advocate

Anthony Wladysiuk - Age Pension Advocate My name is Anthony, and I assist older Australians apply for the Age Pension.

We are more than just a business, we are
people who care and want to make a positive difference in the lives of older Australians The Age Pension Application process can be complex, time consuming and stressful to navigate so why not let me take care of the process for you? I am registered with Centrelink as a nominee service which means you can nominate me to act on your behalf. There is no cost

to talk to me, and I'm always happy to answer any questions about the Age Pension, so for more information, message here or call me on 0432560405

Increase of Age Pension Income and Assets ThresholdsIndexation from 1st Of July 2024From 1st July, Centrelink will index...
16/06/2024

Increase of Age Pension Income and Assets Thresholds

Indexation from 1st Of July 2024

From 1st July, Centrelink will index the Income and Asset thresholds.

This means that the amount of income you can earn and the amount of assets that you can have to be eligible for a full or part pension is increasing.

This also means that pensioners could be be eligible for a small increase to their payment.

People on a part pension due to assets will see an increase of up to $36 per fortnight (single homeowners) or up to $27 each (partnered homeowners) per fortnight.

For non homeowners the increases will be up to $66 per fortnight (single) and $42 each per fortnight (partnered).

Those on a part pension due to income will have an increase of approximately $4 per fortnight (single) or $3each per fortnight (partnered)

These increases assume all other factors remain the same (asset balance, income amounts).

Full pensioners will not have an increase in payment amounts until after 20th September.

This also means that some people who were not previously eligible for the Age Pension due to income or assets thresholds, may be able to apply after 1st July, and although the pension payment may be minimal, they could now access the Pensioner concession card which can in itself be worth thousands of dollars a year in some cases.

The new Income and Assets limits that take effect July 1 are in the attached image

15/04/2024

Centrelink Home Equity Access Scheme Vs Reverse Mortgage.

Ive seen a few questions about how pensioners can withdraw equity in their home or investment property and thought I'd highlight these two options and some ways in which they differ.

Some of the main differences are:
1. Applicant age
2. Flexibility of payout
3. Approval speed
4. Cost

1. Applicant Age
HEAS- Applicant must be Age Pension Age (67 currently) and be eligible for a qualifying pension in all other aspects except Income and assets. You can be over the Income and Assets thresholds but still access the scheme.

Reverse mortgage- Can access at 60 years old.

2. Flexibility of payout
HEAS
One, or both of:
*Ongoing payment up to 1.5x the maximum pension rate per fortnight that will be a combination of your actual pension received and the loan. (If no pension paid as you are over the income or assets threshold, the whole amount will be the payment from the loan.)
*Cash advance of up to 50% of the maximum pension rate over a 26 week period. But this will reduce your available ongoing payment amount for up to 26 weeks.

Reverse mortgage
One or any combination of:
*Initial draw down- can be the whole available loan amount.
*Cash reserve- Funds that sit in reserve, where you are not paying interest until you chose to withdraw them.
*Ongoing payment- monthly, quarterly or yearly payments of any chosen amount up to your maximum loan amount.

3. Approval speed:
HEAS- Can take 3 months or more to get approval.

Reverse mortgage-Can be approved and paid in a couple of weeks.

4. Cost:
HEAS- Lower application costs and an interest rate currently 3.95%

Reverse mortgage-More setup costs and interest rate around 9.50%

5. For both:
*Interest is only payable on the amount you have paid yourself.

*Repayments over the life of the loan are voluntary. You only need to repay if you move out and sell the property or if you pass away.

*You have a right to stay in your home for life until the last remaining person moves out or passes away.

*Both have a no negative equity guarantee meaning that in most circumstance you can't end up owing more than the property is worth.

So while the HEAS is much less expensive, with a reverse mortgage you can access a much larger payments and it is faster.

When considering wither product, its recommended that you seek independent legal/financial advice to see of it is right for you.

Only around 56% or 12.6m of the 22.4m calls to Centrelink made in the final six months of the last year were answered an...
06/04/2024

Only around 56% or 12.6m of the 22.4m calls to Centrelink made in the final six months of the last year were answered and handled.

Over the same period, just over 7.4m calls, or 16.5%, were met with a congestion message and 2.3m were terminated by a customer.

Even if your call got through, you would still need to be on hold for at least 45mins to an hour.

I expect things will start to improve with the new staff on board. I have already seen a reduction in processing times for Seniors Health Card applications. Hopefully Age Pension applications are next.

A reminder on NSW Energy rebates.I help many older Australians apply for the Age Pension and Commonwealth Seniors Health...
27/03/2024

A reminder on NSW Energy rebates.

I help many older Australians apply for the Age Pension and Commonwealth Seniors Health card. As holders of the Commonwealth Seniors Health card do not receive a pension payment, they aren't always aware that as the primary account holder on an electricity account they can be eligible for payments to offset the cost of their energy bills.

In the 2023-2024 financial year, there is a total of $700 in energy rebates available to them.

1. The NSW Seniors Energy Rebate
The rebate is $200 per household, per financial year, and if your application is successful it will be paid directly into your nominated bank or credit union account.

To be eligible you must:
* Be a NSW resident
* Have a valid CSHC (Commonwealth Seniors Health Card)
* Be the primary account holder named on the electricity bill
* Be applying for the rebate for your primary place of residence.

2. The National Energy Bill Relief payment
Eligible low income households, pensioners, self-funded retirees, families and carers will receive a one-off bill relief payment of up to $500 towards their electricity bills in the 2023-2024 financial year.

The National Energy Bill Relief payment will be automatically paid to holders of the CSHC once you are receiving the NSW Seniors energy rebate so its important to make sure that you apply through service NSW before June 30.

Other states have equivalent payments to the NSW Seniors Energy Rebate so if you are not in NSW please check the state you are in.

Good luck!

Another awesome review! Im always grateful when someone takes the time out of their busy day to write a review. Thanks s...
27/03/2024

Another awesome review! Im always grateful when someone takes the time out of their busy day to write a review. Thanks so much Simon.

Engaging an Age Pension specialist can save you time and stress so you can focus on doing the things that you enjoy. Tha...
25/03/2024

Engaging an Age Pension specialist can save you time and stress so you can focus on doing the things that you enjoy. Thanks Dave for taking the time to leave a great review!

www.agepensionassistance.com.au

with Age Pension
Pension Application Help

Increase to the Age Pension March 2024The Federal Government have confirmed the new payment rates from 20 March 2024 for...
20/03/2024

Increase to the Age Pension March 2024

The Federal Government have confirmed the new payment rates from 20 March 2024 for recipients of the Age Pension, Disability Support Pension, and Carer Payments. Singles can expect a total increase of $19.60 a fortnight and couples can expect a (combined) total increase of $29.40 a fortnight.

What else is changing?

While the lower, full pension limits remain the same, the upper income and assets thresholds have also increased. This means that some people who may have previously just missed out on the age pension may now be eligible.

There is no change to the Commonwealth Seniors Health Card limits.

See below for new Age Pension limits.

If you are thinking of applying for the Age Pension feel free to contact me for assistance.

Age Pension increase - March IndexationPensions are indexed twice a year, on 20 March and 20 September. This reflects ch...
29/02/2024

Age Pension increase - March Indexation

Pensions are indexed twice a year, on 20 March and 20 September. This reflects changes in pensioners’ costs of living and wage increases.

Base pension rates are indexed to the higher of the increase in the Consumer Price Index (CPI) and the Pensioner and Beneficiary Living Cost Index (PBLCI). These measure changes in prices on a range of goods and services such as:

food
health care
postage
fuel
housing costs
utilities costs

Following indexation to price increases, rates are compared to a wages benchmark, and increased to meet the benchmark if necessary. The wages benchmark ensures the couple combined rate of pension is at least 41.76% of Male Total Average Weekly Earnings.

The single rate of pension is 66.33% of the couple combined rate.

Over the past six months the PBLCI has increased by 1.5%. This follows last week's announcement that CPI has increased by 1.8% in the same period.

This means that the Age Pension will most likely increase by 1.8% in March 2024.

What does this actually mean?
The base pension rate is expected to go up by around $18 for singles and $27 for couples on a combined pension.

The pension supplement is indexed at the same time, based on CPI only. So, from March 2024 the maximum pension supplement will increase by about $1.45 for singles and $2.15 for couples, depending on rounding.

The energy supplement will stay the same. It is not indexed.

A much smaller increase than deserved, but in this environment, every dollar counts

Another excellent review! Thank you Blanca!
16/02/2024

Another excellent review! Thank you Blanca!

Understanding reverse Mortgages. Besides the Age Pension, Health card and the Centrelink Home Equity Access Scheme, I am...
03/02/2024

Understanding reverse Mortgages.

Besides the Age Pension, Health card and the Centrelink Home Equity Access Scheme, I am also accredited to assist with reverse mortgages.

But what is a Reverse Mortgage?

A reverse mortgage is just like a normal home loan, except that it has been designed for the needs of seniors. It allows people aged 60 and over to release equity in their home to fund a more comfortable and independent retirement.
No regular repayments are required, though voluntary repayments can be made at any time. Interest is added monthly to the loan, which is repaid from the future sale of the property. Importantly, you continue to 100% own your own home.

How can you use it?

Funds can be used for any worthwhile purpose. Many Australians who retire just desire a few of life’s ‘wants’; to travel, to enjoy outings with friends and family, or to occasionally spoil the grandkids. A common reason for taking out a reverse mortgage is to consolidate debts, and other popular uses include taking the stress out of everyday bills, home repairs or improvements, paying for medical procedures, car maintenance, or anything that can make life easier and more comfortable in retirement.

Is there a limit to what I can borrow?

The amount you can borrow is determined by your age, the value of your property and other requirements of the provider. At 60, you may be able borrow up to 15% of your property value, and this may be able to increase by 1% every year until 90 when it’s possible to access 45%. Applications are subject to the lender’s loan approval criteria, including a full valuation of your property. A reverse mortgage is very flexible and you can choose how to take the funds; either as a lump sum, cash reserve, as regular advances (which, depending on provider, could be paid monthly, quarterly or annually for up to 10 years), or a combination of all three.

Customer protection?

Reverse mortgages are arguably the most heavily regulated consumer finance product in Australia. As a result, reverse mortgages have considerable protection for customers, including a guarantee that you will never owe more than the net sale proceeds of the property, lifetime occupancy, and no requirement to make repayments until the end of the loan (with flexibility to repay in full or in part at any time). This protection, which is subject to you adhering to the terms of the loan, and the thorough application processes involved during application, helps provide peace of mind.

How do I decide on a provider?

One of the most important decisions you will make about a reverse mortgage loan is which lender to choose. This decision may have a long-term impact on you and your family, so it’s crucial you get this right. Criteria to consider include the flexibility of the product being offered, ongoing fees and charges, protections offered to customers, and what loan options are available. The drawdown options are very important – as usually you are only charged interest on what has been accessed from the loan amount. It is also sensible to get independent financial advice, and legal advice is compulsory when taking out a reverse mortgage.

It can be a daunting process, but we are here to guide you so contact us for more information. 0432560405

Should you wait until you turn 67 before you apply for the Age Pension? Not if you don't have to! Centerlink allow you t...
24/01/2024

Should you wait until you turn 67 before you apply for the Age Pension?

Not if you don't have to! Centerlink allow you to apply for the age pension up to 13 weeks prior to reaching Age Pension age.

As you can see in the below screen shot of the application I just lodged a few minutes ago, Centrelink "expected" processing times are currently at 3 months.

So by applying early, you can ensure that you receive your first payment without waiting months after you turn 67.

It's words like these that make me love my Job. 🥰
10/01/2024

It's words like these that make me love my Job. 🥰

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