So, I took on Centrelink for my client and what happened and we won.
I just really needed to share this information because I believe it is extremely
extremely important to know that sometimes one person's action can
influence their huge outcome even when you're dealing with a government office.
So, as background my name is Katherine Isbrandt and I am Money Strategist
and my work is all About Retirement.
So part of Retirement Planning for a lot of Retirees is obviously Age Pension
and dealings with Centrelink.
So, what happened my clients who have been receiving age pension for quite some time,
now received inheritance. So automatically that changes their financial position
and automatically their age pension reduced.
Now, my job - I knew about this - my job is to improve anything I can financially.
So we met I prepared statement of advice and we restructured all the money in a way
where after implementing my advice clients were eligible actually for more age pension
that otherwise they would have received.
So obviously they were very very happy.
We signed everything, we restructured all the money
and then my clients don't really want to deal with Centrelink office
therefore I deal with office on their behalf.
So I passed information to Centrelink, I created a letter sent a letter of update
of all the assets and incomes and we're waiting for the age pension to be updated.
A week goes by nothing, another week goes by nothing. Three weeks later I'm getting frustrated
so I called Centrelink and what do I find out? Well I was told,
"Well I'm sorry honey but I think that you mistaken, that's not the right way to treat those assets.
We don't accept what you recommended and we don't accept
those investments and as helping clients with improvement of age pension, therefore,
their payment is not changing."
I was furious it's like, I'm sorry I know my work I understand money.
I know exactly how every single asset is being treated under income and asset test by Centrelink.
I know those rules better than they do.
So well that's not gonna go with me that easy I'm not gonna let it go.
So, again discussion and again phone calls the whole thing was going on for five months.
After five months, I got really frustrated
and I started thinking well what am I supposed to do like Centrelink is not listening?
They don't really know their own stuff. So I decided to go back to the product provider
and I spoke with them and I said "Look I'm sorry that's your product.
Obviously, Centrelink has not updated their data as far as how to treat your
investments for age pension purposes you have to help me here".
We have to straighten this out because it's not correct.
Anyway, would you know, the following day, the following day,
I'm receiving the phone call from Centrelink office
with apology that never happened before. With apologies saying to me,
"I'm sorry, but yes you were correct. Our data was not corrected.
Our coding was not corrected. Our information was not corrected".
Whatever excuses, but they updated everything and my client not only will receive the correct amount of age pension
but the whole back payment, obviously to the day when they originally received my letter of change of assets.
So when I contacted my clients they were thrilled.
They were so happy to hear that finally everything was corrected.
They were quite nervous before, but you know what another very important thing?
When I was talking to Centrelink I actually found out - I was told
that my clients were not the only ones that were affected by lack of information.
There were thousands and thousands of other pensioners
not receiving the correct payments because of incorrect data that Centrelink had within their system.
Now that's scary.
So, that's what I mean one person's action can actually influence a change for many.
So I'm extremely happy and I'm proud that by me being so persistent
and driven to fix the problem for my clients, all of the sudden
there is also this huge benefit for people that I don't even know.
And imagine you receiving your income increase and payment.
What a beautiful present to receive.
So I'm extremely happy and I feel absolutely blessed that I'm able to do this within my work.
So, just to finish this video, as you can see I am I'm very emotional
I'm really beside myself, I'm that happy but my message is if you are a pensioner
and you're receiving part age pension or your parents are.
I promise you you have no guarantee whatsoever, that you are receiving your real entitlement
and unless you know those rules inside out.
If you not sure, give me call let's have a chat.
The review and letting you know whether you are
receiving correct payment or not will not cost you anything.
But if I can improve your situation I will and I will tell you what to do.
So yes so that's my message.
I'm extremely passionate about this because I think that it is our duty
to look after people who have retired and who were working all their lives
and now they if they eligible for government payment
they should be receiving what they eligible for.
If you are a retiree, or you are if you are planning for retirement,
I really would like to wish you a very healthy and very successful retirement.
Have a lovely day everyone, bye!