Financial Support for Retirees During COVID-19

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  • Financial Support for Retirees During COVID-19


  • Draw down rates reduced by 50%
  • Deeming rates reduced by .75%
  • 2 x $750 payments

Last week we sent out a special email to all Centrelink and Age Pension related clients to make mention of the reduced deeming rates in light of the economic climate.

The government announced a further reduction of .25% over the weekend. The deeming rate reduction is expected to make a difference of around $105 per year.

One off payments have been announced for most people receiving income support or holding a concession card.

The first payment of $750 will be paid from the 31st of March.

The second payment of $750 will be paid from the 13th of July.

The WA government has also put in place additional support for the cost of electricity to anyone who is an eligible concession card holder. More can be found on their website here.

More updates and details are to be provided shortly. If you require further information, clarification or support in the meantime, please don’t hesitate to contact us via phone or email (contact form).

For further Centrelink support please refer to our Centrelink Strategies page.

Support for other circumstances can be found here:

Contact us today and see how we can help

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