331 age pension deep dive - getting ready to claim (part 1)

In this 2 part mini-series, Glen James is joined by Justin Bott, a Community Information Officer from Services Australia to unpack everything around the Centrelink age pension. In this episode Glen and Justin discuss preparing to claim. Stay tuned for next week where we cover living on the pension. In this episode they touch on:
01:49 - the three pillars of retirement in Australia + how the age pension fits into that
07:40 - when to start planning for retirement + how to determine how much you need
12:45 - what to know about reaching out to Services Australia and chatting with a Financial Information Service Officer
30:22 - what to know about planning for retirement with income, assets and debt
42:34 - the key eligibility criteria for the age pension, and how the income and assets test works
50:42 - the benefits you are able to access as a self funded retiree that isn't eligible for the pension
53:42 - how and when you can apply for the age pension

You can contact the Financial Information Service on 132 300, ask for Financial Information Service or learn more at https://www.servicesaustralia.gov.au/...

Free Financial Information webinars here: https://www.servicesaustralia.gov.au/...

#agepension #centrelink #retirementplanning #servicesaustralia #glenjames #justinbott #retireright #australianpension #financialplanning #australianretirement

If you’d like to chat with someone about your personal situation, reach out to our team so we can connect you with a professional: https://www.retireright.com.au/get-help

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This video is for education and entertainment purposes only and is intended for Australian residents. It is not a substitute for professional financial, tax or legal advice. Any advice provided is general financial advice only, which does not take into account your objectives, financial situation or needs. You should consider whether the advice is appropriate for your circumstances before acting on it. If you choose to buy a financial product, read the relevant product disclosure statement (PDS) and target market determination (TMD), and seek personal advice from a licensed adviser. We may discuss products, services or listener questions in this video for illustration and entertainment purposes. It is impossible to provide personal advice in this format, as we don’t know your individual financial situation. We may also change the names of questioners for privacy. While we do our best to provide accurate information, we accept no responsibility for any inaccuracies. SYMO Interactive Pty Ltd (trading as Retire Right Australia) and Glen James are authorised representatives of MoneySherpa Pty Ltd, which holds Australian Financial Services Licence 451289. Martin McGrath, Financial Edge Group and their employed financial advisers are authorised representatives of Synchron Advice, which holds Australian Financial Services Licence 243313. Please read our Financial Services Guide at moneypodcast.com.au.

Intro Music:
"80's Movie Marathon" by Luciano Music Co.
Licensed via Shutterstock Music (royalty-free, commercial use permitted).
Segment/Outro Music:
"Photograph" by nomaBeats
Licensed via Pixabay Music – royalty-free for commercial use.
No copyright infringement intended. All music used under appropriate commercial licences.