2.2.9 Retirement verification

Introduction

The following table lists the verification required for the payments/benefits in the retirement grouping. If more detail is required about specific verification, the second column indicates where you will find this.

Verification required More detail
Age & PBS
Proof of identity 2.2.1 Verifying identity
Age 2.2.2 Verifying personal details
Income  
Residence 3.1.1.10 Residence requirements
Pension bonus bereavement payment
Proof of identity 2.2.1 Verifying identity
Age 2.2.2 Verifying personal details
Income  
Residence 3.1.1.10 Residence requirements
Death 2.2.6 Confirming a death
Home equity access scheme
Real assets (1.1.A.290) This topic
Age 2.2.2 Verifying personal details
Special needs pension
Proof of identity 2.2.1 Verifying identity
Age 2.2.2 Verifying personal details
Income  

Verifying real assets - HEAS

Any property, including the recipient's principal home, which is offered as security for the HEAS (formerly PLS) must be valued. This valuation is done before grant and reviewed annually. A valuation is also required for any other real estate owned by the recipient, if it has not been previously valued.

Valuations are normally done by a professionally qualified valuer appointed by Centrelink at no cost to the recipient.

Explanation: This means the valuation price:

  • is based upon the highest and best use of the asset
  • is one that a willing buyer would agree upon with a willing but not anxious seller, and
  • in the case of real estate or a business, is supported by evidence of recent comparable sales.

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