Applying for the Age Pension
Applying for the Age Pension can be an overwhelming process — one filled with paperwork, eligibility tests, and confusing Centrelink language. But you don’t have to navigate it alone.
At MLS Financial in Penrith, we regularly support clients in Penrith and Western Sydney through the Age Pension application process, ensuring they receive what they’re entitled to, while structuring their finances in a way that supports long-term retirement goals.
Here’s what to expect when working with an MLS Financial planner on your Age Pension journey.
1. Determine Your Age Pension Eligibility
The first step is understanding whether you’re eligible for the Age Pension.
An MLS Financial planner will assess:
- Your age (must be Age Pension age – currently 67)
- Residency status (must be an Australian resident for at least 10 years, with at least five of those years continuously)
- Your income and assets, tested by Centrelink
Many people assume they won’t qualify, but an MLS Financial planner can help you run the numbers properly, identify grey areas, and explain partial entitlements — which are often missed.
2. Helping Structure Your Finances to Maximise Entitlements
The structure of your finances can significantly impact how much Age Pension you receive.
An MLS Financial planner will:
- Review your assets (super, investments, property, cash, etc.)
- Review your income streams (account-based pensions, dividends, rent, etc.)
- Suggest strategies to optimise Age Pension access
These actions can mean the difference between receiving no pension or gaining thousands of dollars a year in payments and concessions.
3. Assisting with the Centrelink Application Process
Applying through Centrelink can be time-consuming and frustrating. An MLS Financial planner:
- Will complete the application and liaise directly with Centrelink on your behalf
- Explains confusing Centrelink forms and terminology
- Provides a checklist of supporting documents (e.g. bank statements, super details, ID)
- Ensures accuracy to avoid delays or rejection
Our team at MLS Financial often takes this administrative load off our clients, so they can focus on retirement, not red tape.
4. Planning for Retirement Income Beyond the Age Pension
The Age Pension may be only one part of your retirement income. A good financial planner helps you:
- Understand how the Age Pension fits alongside superannuation, investments, and personal savings
- Design an income strategy that balances government support with your lifestyle needs
- Plan for longevity, inflation, and changing needs over time
This holistic approach ensures that your cash flow is stable, and your wealth is protected, even if your entitlements change in the future.
5. Ongoing Support and Updates
Even after the Age Pension is approved, your situation may change. An MLS Financial planner:
- Reviews your position regularly to ensure you remain compliant
- Alerts you to changes in Centrelink rules or deeming rates
- Updates strategies if your income, assets or needs change
- Provides support during Centrelink reviews or re-assessments
Many clients value the peace of mind that comes from knowing someone is across the details, even years after the initial application.
Why Work with MLS Financial?
At MLS Financial in Penrith, we specialise in retirement planning in Penrith and Western Sydney, with deep experience helping clients apply for and manage Age Pension entitlements.
We pride ourselves on:
✅ Personalised advice and attention
✅ Clear communication without the jargon
✅ Ethical, professional guidance
✅ A caring, local team you can call any time
Let’s Talk About Your Age Pension Application
If you’re nearing Age Pension age — or already eligible — and want guidance on how to apply, structure your finances, or simply understand your options, we’re here to help.
📞 Call MLS Financial on 1300 791 800
📩 Or get in touch online to book a no-obligation chat.
We’ll help you retire on your terms — with clarity, confidence and peace of mind.
Disclaimer:
This information is general in nature and does not take into account your personal objectives, financial situation or needs. You should consider speaking to a qualified financial planner before making any financial decisions. MLS Financial and Infocus Securities Australia Pty Ltd do not accept responsibility for actions taken based on this content.
