Information on draw-downs

Minister for Human Services, Senator Joe Ludwig, is encouraging Australians on a part-pension to tell Centrelink if they want to take advantage of Government changes to the amount they are required to withdraw from their superannuation.

He said recently Centrelink had sent letters to around 150,000 retirees who could benefit from the halving of the amount they are required to withdraw from their superannuation.

“The letters remind customers they need to inform Centrelink within 14 days, if they decide to choose to reduce the amount they draw-down from their allocated or market linked income streams.” 

He said some part-pensioners may be entitled to an increase in their Centrelink payments.

Customers will need to provide Centrelink with an Income Stream Schedule as proof of the change.

To find out more call Centrelink on 13 23 00.