Retired and Overlooked for the Age Pension? Here’s How to Reclaim Your Freedom
If you are over 67 and not receiving the Centrelink Age Pension because they say you have ‘too many assets’, you’re not alone.
Many retirees find themselves in this situation. Owning a home, having some savings, maybe a few investments, and suddenly they are told they don’t qualify for government support.
But there is good news. With the right financial advice, you may be able to restructure your assets and become eligible for the pension after all.
At MB+M, our OzPlan Financial Services team has helped many locals navigate this exact challenge. We understand the rules and more importantly, we know how to work within them to help make the most of what you have worked so hard for.
How Does Centrelink Decide Who Gets the Pension?
Centrelink uses two tests to assess your eligibility.
Income Test
The Income Test looks at your total income from all sources, like employment, superannuation, and investments.
Assets Test
The Assets Test considers things like your savings, shares, investment properties, vehicles, and other possession. This excludes your family home.
If your income or assets are above certain limits, you may not qualify for the full pension, or anything at all. But that doesn’t mean there is nothing you can do.
What Are Your Options?
This is where good financial planning comes in.
There are strategies that may help reduce the amount Centrelink counts as assessable assets. Every person’s situation is different, and that’s why personalised advice matters. Our team takes the time to understand your circumstances and help you explore what is possible.
Concession Cards and Other Benefits
If you qualify for the Age Pension, you automatically receive a Pensioner Concession Card from Services Australia. This card provides a range of benefits, including cheaper medicines, potential bulk-billed doctor visits, and potential other discounts depending on your State or Territory.
Even if you don’t qualify, you may still be eligible for other concession cards that offer real savings.
We are here to help you take control of your finances – leading to less stress, more financial freedom, and peace of mind tomorrow.
Why It’s Worth Getting Advice
Retirement should be a time to enjoy life, not stress about finances. However, Centrelink rules can be confusing and it is easy to feel overwhelmed. That’s why talking to a licensed financial advisor can make all the difference.
Whether you’re already retired or planning ahead, we will work with you to find the best path forward so you can enjoy more freedom, less stress, and peace of mind.
Every family is different, and your plan should be too. Whether you’re looking to hand over a business, protect assets for the next generation, or simply get your affairs in order, we can guide you through every step.
Call us on (03) 5831 1233 to speak with our team about how we can provide a fresh perspective at your finances and assets.
You may be interested in a deeper dive in the different concession cards provided: A Guide to Concession Cards.
If you’re interested in booking an appointment, your first consultation is free, call us on 03 5831 1233.
Published November 2025
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