A division of the Liberal Party of Australia
FINANCIAL INFORMATION SEMINAR - UNDERSTANDING YOUR PENSION
23 November, 2006
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Well good morning ladies and gentlemen.
It's not so much going to be a chat with you as simply a welcome to this course.
My name is Ian Macdonald and I'm a Liberal Senator from Queensland but I live in the rural township of Ayr a little bit further north from here and my electorate office is in Townsville.
I'm particularly keen to see newly qualified pensioners – as I understand you all are - in country and regional areas of Australia being entitled to the same sort of services as people in the capital cities have access to.
And that's why I'm delighted to welcome you to this "Understanding your Pension" Seminar here on a magnificent day in Yeppoon.
I'm delighted you have accepted the invitation to come along and learn more about your pension, your entitlements and how to get help in management of your affairs.
Joe Hockey, who many of you may know or know of, is the Minister for Human Services and Joe is a person who not only understands people but actually has a genuine concern and care for fellow Australians.
This is his initiative and it is another initiative that Joe has brought on since becoming Minister for Human Services.
The Centrelink people right around Australia do a marvellous job, indeed helping people should be their motto because that is what they do and I know the team here in the Rockhampton/Yeppoon area are especially competent. I've had a number of things to do with them over the years and I can vouch for their professionalism and can I say well done to them on these Seminars.
By now you have all probably seen the Understanding Money pays off ads on TV.
Often people see ads like that and wonder what they actually mean in practical terms. Well you're about to experience what it means. These Seminars are one aspect of the Australian Governments initiative to get people to better understand money.
The Australian Government launched the Financial Literacy Foundation in June of last year. If you leave here today with the urge to find out more about managing your money, please visit their website at Understandingmoney.gov.au.
These free financial information seminars play an important role because they help individuals achieve a better lifestyle through the best use of their own resources.
They are part of the Australian Government's Financial Information Service and provide practical information on a wide range of topics including savings and wealth creation, superannuation, managed investments and taxation. Today's seminar as you all know is on the Aged Pension.
These days with credit so easily available, it is more important than ever that everyone understands their financial circumstances and takes steps to plan for the future. We've all heard the stories about people who use new credit cards to pay off other credit cards and end up in a spiral of debt.
The Australian Government, through these seminars, is doing what it can to make sure we are all equipped to get the best we can from the financial situations in which we find ourselves.
These seminars outline to people the risks of various financial strategies and products but aim specifically to reinforce the message the "Understanding money pays off".
The officers who give these seminars do not prepare financial plans or tell individuals how to invest their money, they provide an unbiased assessment on the options that are available.
This seminar is only one of around 1,500 held around the country each year by Centrelink on behalf of the Department of Families, Community Services and Indigenous Affairs.
You can attend as many of these seminars as you like and I encourage you all to make the most of the information that is provided here today.
In the Federal Budget in May of this year Peter Costello announced changes to the Age Pension Asset test, allowing people in regional areas who have a long term connection with their property to have it exempted from the assets test. I understand that this won't apply to any of you here today as you are already on the pension, but you may have friends or family to which it applies.
It's worth noting that those who are already over pension age can have their assets reassessed with these new measures in mind.
If anyone you know is interested, they can contact Centrelink for more information, or my office can also help you.
So again welcome.
The Government is very keen to assist people get on with their lives, secure in the knowledge that there is someone to help with your financial matters.
I hope you will find the Seminar very useful, very informative and that it does indeed help you in your future life.
If you have any suggestions to make I know that you can get in touch with the marvellous Centrelink people here or please feel free to contact me at my office in Townsville or in Parliament House in Canberra at any time.
Over to you Neville.