May 30, 2015

Vol 5 Ed 5

Vol 5 Ed 5

Volume 5 Edition 5 Newsletter

Online at  ‎Permalink: ‎

Independent aged care, lifestyle and financial advice for seniors
Volume 5 Edition 5 –29 May 2015


Centrelink Pension Loan Scheme

Part Age Pensioners who own real estate may ‘borrow’ from Centrelink and thus be paid the full rate of Age Pension.

For example if an Age Pensioner couple own a beach house for family use; their Pensions could be substantially reduced by the Asset Test. The Centrelink Pension Loan Scheme could allow them to use the equity in their property as security for the loan of that part of the Age Pension that was cut by the Asset Test.

Property owning seniors who are excluded from any Age Pension on account of just one of the Asset Test and Income Test may also be eligible for the Centrelink Pension Loan Scheme.

Remember that the full rate of Age Pension provides homeowners with a very modest standard of living.
The maximum payment to a Pensioner Couple in May 2015, totals $1,296.80 per fortnight, that is, $33,716 for the couple for a full year.
A single Age Pensioner could be paid a maximum of $860.40 per fortnight, $22,365 for a year at May 2015 rates.
Age Pensioners living in private rental accommodation are eligible for a small amount of Rent Assistance to help with rental costs.

ASIC Money Smart Financial Adviser Register

ASIC has a new register for the public to see who is allowed to provide financial advice. Starting 1 June 2015, on you can find out about the qualifications and recent work history of every person licensed to provide financial advice to the Australian public.

At MoneySmart you can see that Christine Hopper has been licensed by Financial Care Services since June 2006 and that Financial Care Services is not controlled by another entity.

The new Qualifications section shows that Christine holds a Diploma of Financial Planning and has attained the Fellowship of both the Institute of Actuaries of Australia and the Institute of Actuaries, London UK.
The red box labelled “Disciplinary Actions” shows “No banning or disqualifications recorded.” for Christine Hopper.

Financial Care Services is an independent aged care financial advisory service specialising in aged care entrants and retirees with modest financial resources.

Financial Care Services core value in financial advice is to assist with your money plan in the responsible management of your assets to generate the cash flow needed for your lifetime planning. Christine at Financial Care Services understands both the DVA and Centrelink Pensions systems and the Commonwealth aged care fee arrangements.

If you would like further confidential, independent and professional advice about Centrelink, lifestyle or financial issues please contact Christine Hopper 03 9808 0338.


Financial Care Services

Christine Hopper

Financial Care Services Pty Ltd
Independent aged care, lifestyle and financial advice for seniors in Melbourne, Victoria, Australia
Australian Financial Services Licence Number
299570 (check this at
Authorised Representative Number
252529 (check this at

Telephone – call +61 3 9808 0338
Email – contact
Address – mail or meet at 172 Warrigal Road, Camberwell Victoria 3124
Website – visit
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Past newsletters – see
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Disclaimer: The information contained in this newsletter is of a general nature only and does not constitute “financial advice”. You should obtain your own personal financial advice before investing any money or moving in to any retirement village, lifestyle community or aged care facility. Financial Care Services is licensed to provide financial advice to individual clients based on their personal situations.

All eligibility for Commonwealth benefits will be determined by Centrelink or DVA, based on your personal position as documented and the legislation and Regulations in force at that time.

© 2015 Financial Care Services Pty Ltd. All rights reserved.