Nick Bruining: A shift from automatic to manual Centrelink updates on ABPs could top up your part-pension

Account-based pension investors receiving a part-pension from Centrelink can expect to receive a letter in the next few weeks advising them of changed pension payments.

Depending on your circumstances, your benefit may go up or down, but knowing what to look for and an understanding of Centrelink’s systems can ensure you’re getting what you deserve.

In some cases, the new rate of payment may be less than you’re entitled to.

Financial planner James Robinson said that all major funds appear to have been contacted.

“Fund managers are sending through batches of updated account information to Services Australia, the department that oversees Centrelink, Medicare and other government departments that pay out money to individuals,” Mr Robinson said.

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