This age pension trick will save you if you need money fast
Unexpected bills can really throw a spanner in the works, especially if you’re on a fixed budget. And throwing these expenses on your credit card can be risky.
So, what is someone on the age pension supposed to do?
Well, one option could be requesting an advance payment on your pension.
There are some qualifications however. The Department of Human Services states that in any period of six months (or 14 fortnights) you can only receive one advance at the highest amount, one or two advances at the smaller amounts, or three advances at the lower amounts. These numbers change each March and September.
Here are the current figures as of October 4, 2017:
Image credit: Department of Human Services
One important thing to be aware of however, is that this is not an extra pension payment, and the amount will be taken out of future pension payments.
To request an advance payment, head to Centrelink’s Online Service or get in touch directly by calling 13 2300. And for more information click here.
What you ever requested an advance payment of your pension?
Any advice contained in this communication is general advice only. None of the information provided is, or should be considered to be, personal financial advice.