Letter from Centrelink
David French | 24/04/2009 11:53:18 AM
Many Centrelink clients have received a letter from Centrelink entitled “Change to Market linked and allocated income streams”. This letter follows the recent Government initiative whereby recipients of superannuation pensions can elect to receive less, or no, superannuation pension payment for the period 1 January 2008 to 30 June 2009. As discussed in CIPL’s latest newsletter, this results in more funds being retained in the super fund, in the anticipation of better market conditions. Clients who have other sources of income, or who are drawing more from their super fund than they require, might like to consider lowering payments.
The Centrelink letter is simply a reminder to let Centrelink know if superannuation pension payments have reduced – CIPL will attend to that for you. If you have not elected to reduce your superannuation pension amount, the letter can be ignored.
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