This session is designed to equip financial planners with the knowledge and skills to effectively integrate Centrelink and social security benefits into comprehensive financial plans for their clients. Participants will gain a detailed understanding of Centrelink benefits, eligibility criteria, income and asset testing, and the implications of financial changes. The session also covers strategies to optimize client entitlements, manage overpayments, and navigate the appeals process, ensuring compliance and maximizing client outcomes.

Key topic covered include:

·       Overview of Centrelink benefits and their role in financial planning.

·       Eligibility criteria, including age, residency, income, and asset thresholds.

·       Income and asset testing processes for benefits such as the Age Pension and Family Tax Benefit.

·       Strategies for integrating social security into broader financial plans, including retirement and estate planning.

·       Managing financial changes, overpayments, and compliance with gifting rules.

·       Navigating applications and appeals for benefits like the Disability Support Pension and Job Seeker Payment.

·       Regional and remote assistance programs and tools for assessing eligibility.

·       Staying updated on policy changes to provide accurate and compliant advice

By completing this session, you will be able to:

·       Understand the scope and purpose of Centrelink benefits and how they integrate into clients’ financial plans.

·       Gain the ability to assess client eligibility for Centrelink payments by evaluating income, assets, and other key criteria.

·       Learn how to advise clients on managing income and assets strategically to optimize entitlements.

·       Develop skills to incorporate social security benefits into comprehensive retirement and financial plans, ensuring long-term sustainability.

·       Navigate complex eligibility and compliance issues, including gifting rules and means testing, to maximize client outcomes.

·       Provide guidance on the appeals process to assist clients in resolving disputes and accessing entitled benefits.

·       Use tools and resources, such as Centrelink calculators, to deliver accurate, tailored advice.

·       Stay informed about social security policy changes and their implications for client strategies.

·       Address unique challenges faced by regional and remote clients, ensuring equitable access to benefits.

·       Support clients through financial reviews, ensuring timely and accurate submissions to maintain compliance.

CPD No. TIIS33280

CPD Areas: Technical Competence (2.75 hour)

Knowledge Requirements: Social Security (2.75 hour)

Level: Foundation

Time: 2.75 hours​

Type: Online