1.1.C.230 Comparable foreign payments (CFPs)
This definition applies to the following payments:
- age pension,
- widow allowance,
- wife pension,
- widow B pension,
- parenting payment,
- disability support pension,
- carer payment, and
- bereavement allowance.
Definition of a CFP
A CFP is a payment that is similar to an Australian social security pension and regulated through another country's national social security laws. It is paid periodically to provide income in respect of:
- old age,
- widowhood, or
It also includes:
- payments made to a partner or carer, and
- payments from entities, such as companies and business enterprises, that are regulated through a foreign country's national social security law.
The following are NOT CFPs:
- payments through private or voluntary investment schemes, such as private superannuation-like schemes or private annuities,
- war, service and restitution pensions and compensation payments from other countries.