Navigating the Age Pension and Centrelink system can feel overwhelming. From understanding eligibility rules to lodging the correct forms on MyGov, many Australians find the process complex and time-consuming—especially during retirement transition.
At MLS Financial, we help clients in Penrith and Western Sydney understand and access their Centrelink entitlements, including the Age Pension, Commonwealth Seniors Health Card, and other related benefits. Our advice is tailored, practical, and always focused on your needs.
Whether you’re already receiving a payment, about to retire, or want to structure your finances to maximise eligibility, we’re here to guide you every step of the way.
The Age Pension is a regular fortnightly payment from the Australian Government designed to support older Australians with their living costs in retirement. It’s managed by Centrelink, which is part of Services Australia.
You may be eligible for the Age Pension once you:
At MLS Financial, we take the guesswork out of the process by helping you understand:
We provide ongoing support for Centrelink-related matters, including:
Centrelink uses two key tests to determine how much Age Pension you’re eligible for:
Your Age Pension is reduced if your income exceeds certain thresholds. This includes income from:
We can help you understand how your income is assessed and what strategies may reduce the impact.
This considers the value of things you own, such as:
There are separate thresholds for singles and couples, and for homeowners vs. non-homeowners. Exceeding the limit may reduce or eliminate your payment, so proper financial planning is critical.
Many people try to handle their Age Pension on their own—only to get stuck in endless loops of paperwork or miss out on thousands in benefits due to minor errors or poor financial structuring.
Here’s how MLS Financial can help:
Maximise Your Entitlements
We understand Centrelink’s rules and know how to structure your assets and income for better outcomes. For example, how to use a gifting strategy, prepay funeral bonds, or restructure account-based pensions.
Avoid Delays and Mistakes
Centrelink processes can be slow, and mistakes or missing documents can cause long delays. We streamline the process and ensure everything is submitted correctly the first time.
Stay Compliant with Ongoing Reporting
We help you stay on top of Centrelink’s obligations, including when to notify changes, respond to reviews, or manage declarations—minimising stress and confusion.
Local, Personal Support
We’ve helped hundreds of retirees across Penrith get the assistance they’re entitled to. Our advice is local, empathetic, and based on strong relationships—not just online portals.
Ideally, at least 6 to 12 months before Age Pension age.
That’s because how your assets and income are structured at the time of assessment can significantly affect your eligibility and payment. A proactive review can help you:
Early planning helps you avoid disappointment, stress, or unintended financial consequences.
Your super and the Age Pension are closely linked. Here’s why:
We can help you time your transition from accumulation to pension phase strategically—especially in cases where one partner is under Age Pension age. The end result of proper advice here may mean one partner receiving significantly more Age Pension, than without advice.
At MLS Financial, our goal isn’t just to help you get a Centrelink payment—it’s to help you retire with confidence and peace of mind.
We combine Age Pension and Centrelink advice with your broader financial picture, including:
By taking a holistic approach, we ensure your retirement is not only sustainable—but enjoyable.
Not necessarily. You can still work a limited number of hours and receive the Age Pension, subject to income test rules. The Work Bonus allows you to earn a modest amount without reducing your payment.
You may still be eligible for the Commonwealth Seniors Health Card (CSHC), which offers discounts on medications, health care, and some utilities.
Yes. Your primary residence is exempt from the assets test. However, other properties or assets may affect your entitlement.
You must report any change in your income, assets, or living situation to Centrelink. We help clients stay compliant and adjust their strategy when needed.
Yes. Even if you only receive a part Age Pension, you may still access the Pensioner Concession Card, which provides substantial savings on healthcare and household costs.
Whether you’re about to retire, already receiving a pension, or just want to plan ahead, MLS Financial provides professional Centrelink advice in Penrith you can trust.
We take care of the details—so you can focus on enjoying your retirement.
Call us on 1300 791 800 or contact us to speak with one of our friendly financial advisers today.
