Page 2 - Wealth-Adviser-Issue-123 (FWP)

ISSUE 123
OCTOBER 2025

Major Concession Cards: A Foundation of least 10 years, including 5 continuously, and meet income
Support and asset thresholds that change twice each year.
Pensioner Concession Card (PCC) Maximum Fortnightly Payments (September 2025):
Automatically issued to Australians who qualify for the • Singles: $1,116.30
Age Pension or certain other income-support payments, • Couples (combined): $1,682.80
the PCC offers broad coverage. It entitles holders to cheaper Assets Test (Homeowners):
PBS medicines, access to bulk-billing doctors in many cases, • Full pension: single $321,500 | couple $481,500
lower utility bills, and council rate concessions. Discounts • Part pension cut-off: single $704,500 | couple $1,059,000
also extend to vehicle registration, recreation, and even Income Test:
water rates or dental services, depending on each state’s Payments are reduced once income exceeds $204 (fort-
agreements. nightly) for singles or $360 for couples. At higher thresholds,
eligibility phases out entirely.
Commonwealth Seniors Health Card (CSHC) Applicants should apply through their MyGov account
For retirees who do not qualify for the Age Pension but or at a Services Australia office, ensuring they upload full
still face modest incomes, the CSHC remains one of the most documentation—proof of age, citizenship, bank balances,
important support instruments. As of October 2025, eligible superannuation statements, and partnership details. Errors
singles must earn less than $99,025 a year and couples less or omissions are a major cause of delay. Many retirees
than $158,440 combined, with no assets test applied. These underestimate their entitlement by not including deductible
cards unlock access to the concessional PBS safety net, expenses or failing to update changes in assets.
meaning cheaper or free prescription medicines after
reaching the annual threshold, and rebates on out-of-pocket Practical Steps to Navigating the System
medical fees. 1. Identify What You’re Entitled To
Financial advisers often point out that couples with sub- Use the federal government’s Eligibility Checker or free
stantial super balances but limited income can qualify. For retirement calculators. These tools estimate your likely
example, a self-funded retiree couple drawing $100,000 a qualification for the Age Pension, Rent Assistance, and key
year in account-based pension income would receive the health cards.
CSHC despite holding a portfolio worth over $3 million. 2. Gather Documentation Early
Prepare essential evidence before starting your appli-
State and Territory Seniors Cards cation. This includes Medicare numbers, tax file numbers,
All states run their own Seniors Card schemes, offering superannuation balances, investment account summaries,
transport and local business discounts. Eligibility usually and identification. Keeping updated copies prevents repeat
begins at 60 years old with a requirement to work less requests from Services Australia.
than 20 hours per week in paid employment. 3. Apply or Renew on Time
Examples: Most benefits require renewal. Missing deadlines can
• NSW Seniors Card and Senior Savers Card: Free weekday suspend concessions automatically, particularly for state
travel in regional areas and capped daily fares of $2.50 on programs. Register a MyGov account notification alert and
public transport. keep hard copies of recent approvals for future claims.
• Victoria Seniors Card: Seniors can travel free during 4. Combine Federal and State Benefits
off-peak periods and receive energy rebates. Many retirees overlook the compounding value of
• Queensland Seniors Card: Discounts on vehicle regis- “stacking” different rebates. For example, a couple receiving
tration, electricity rebates of $372.20 per year, capped the Age Pension may simultaneously use a PCC for pre-
water usage charges, and council rates concessions in scription discounts, a state Seniors Card for transport, and a
most areas. council rate rebate. Together these may reduce expenses by
While benefits differ by location, interstate recognition over $2,000 per year.
arrangements increasingly allow seniors to use transport
discounts outside their home state—an important but Real‑Life Application: A Case Study
underused provision for travelling retirees. John and Margaret, homeowners in suburban Brisbane,
retired in mid-2025 with combined assets of $900,000 and
Age Pension and Eligibility in 2025 income of $75,000 a year drawn from super. Despite initially
The Age Pension is both a safety net and a gate- assuming they were not eligible, their adviser guided them
way to many other entitlements. The qualifying age is through the CSHC application. Within weeks, they gained
now 67. Applicants must be Australian residents for at access to discounted PBS medicines and out-of-pocket

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