If you’re receiving a payment from Centrelink and drawing from your superannuation via an income stream or lifetime pension, Vision Super will send Centrelink information directly to assist them in assessing your entitlements.
A Centrelink schedule is a document that Vision Super creates which is used to inform Centrelink of the various components relating to your superannuation income stream or lifetime pension. The purpose of the Centrelink schedule is to enable Centrelink to assess your payments from Vision Super for ‘income test’ and ‘asset test’ purposes. This assessment then contributes to the calculation of your pension entitlements.
A Centrelink schedule gives Centrelink all the necessary information they need about your account, including:
The name of your superannuation product
The date of purchase (commencement of income stream/lifetime pension)
The initial investment into the income stream/lifetime pension
Any lump-sum withdrawals since the income stream/lifetime pension was created
The current balance.
While we can send one to you directly when you contact us, the easiest way to get a Centrelink schedule is to log in online. Under “Pension” you can choose the drop down “Centrelink schedule” and press the button that says “request a new Centrelink schedule”. This enables you to export the document directly to your computer where you can print it or email it to Centrelink. It also allows you to see previous documents you have requested.
It is important to note that despite Vision Super sharing the Centrelink schedules, you may still be asked to provide a copy to Centrelink directly. Additionally, if there has been a significant change to your superannuation balance within the financial year, you may choose to manually update Centrelink with a new schedule to ensure your pension entitlements are up to date.
If you’d like more information, or you’re seeking your Centrelink schedule, call us on 1300 300 820 Monday to Friday between 8:30am and 5pm and we can set you up with online access, or send the schedule directly to you.