..

Money

  • Written by Helen Hull


Applying for the Age Pension is a fraught experience for many older Australians according to a joint study conducted by the National Seniors Australia (NSA) and Retirement Essentials.  

The study found conclusively that less than 4 in 10 seniors are satisfied with the current Age Pension application process. Specifically, it also found that 88 per cent of people in the survey were dissatisfied with Age Pension application forms and processes.

“The Age Pension application service is a deeply complex and frustrating experience for many,” Paul Rogan Retirement Essentials founder and CEO said.

“Based on demographic trends, over 153,000 Australian seniors each year are having a negative experience when applying for the pension. 

“The number one complaint is the Centrelink call centre – 95 per cent of respondents were dissatisfied. This appears to relate mostly to the wait times and indicates staff resourcing is a major issue,” he said. 

The overall time it takes to apply for the Age Pension is the second major grievance. 

Interestingly, the online Centrelink portal also came in for sharp criticism with 67 per cent of respondents were dissatisfied with the online pathways that Centrelink offer for age pension application.   

“Most significantly, 82 per cent sought assistance with their application process – not feeling confident enough to go it alone,” he said. 

“Beyond those who are simply frustrated, there are many eligible people who actually give up on accessing their entitlements,” he said. 

“We must remember that our retirees have worked hard and paid taxes their whole life, it’s simply not fair that government makes it hard to apply for the Age Pension and we need to do more to assist seniors to navigate the complex process and support them.”

Retirement Essentials has recently launched a service that combines an easy to use website with good old fashioned, accessible telephone service that solves many of the issues identified in the report. 

The Retirement Essentials Age Pension service is a new, smarter way to apply for the Age Pension. Crucially, the website is easy to use because it’s been designed with seniors, for seniors.

 “We worked with Seniors to better understand how they prefer to interact with technology and we quickly learned that a hybrid service that links good old-fashioned customer service with human-centred technology would work best,” said Mr Rogan.  

“We believe every Australian should be able to access affordable support when they reach retirement age, which is why we have worked with everyday seniors to design an Age Pension service that helps them secure their entitlements with confidence”.

Retirement Essentials commissioned the NSA to produce the report, The Centrelink Experience – From ‘waiting, frustrated, hopeless’ to ‘helpful friendly, positive’. The NSA surveyed their members who had recently applied for the Age Pension with over 4,500 seniors responding.

About Retirement Essentials

Retirement Essentials is a member-based financial technology (‘fintech’) service for Australian seniors that gives everyday Australians access to affordable financial advice.

Retirement Essentials was founded by Paul Rogan in 2017. Prior to establishing Retirement Essentials, he was a senior executive with a number of large financial institutions including MLC, NAB and Challenger Limited. Paul boasts 40 years’ experience in the financial services industry. 

Retirement Essentials has launched a new Age pension application service that provides older Australians with a smarter way to both get and keep their age pension. 

In just three months, more than 10,000 seniors have checked their eligibility via the Retirement Essentials Age Pension calculator. 

www.retirementessentials.com.au

Politics

George Neophytou supports roads funding and more

Independent candidate for Gippsland East George Neophytou has pledged to support completion of duplication of the Princes Highway between Traralgon and Sale and to upgrading of the Sale alternative ...

Scott Morrison interview with Alan Jones

Belt and Road Initiative; Law and order in Victoria; Queensland infrastructure; Power prices; Paris Agreement; Immigration; Negative gearing.   ALAN JONES: Prime Minister, good morning.   PRIME ...

George Neophytou a real force to stop the Fingerboards Mine

George Neophytou a solicitor contesting the election as an Independent Candidate has been an activist against the Fingerboards Mineral Sands Mine for over two years. His track record shows ability a...

Business News

Hussh

Hussh . . . The Secret is Out Your exclusive invitation to 9 massive warehouse sales this week The secret to huge savings is shopping directly from the warehouses of Australia’s biggest wholesa...

Web Wisdom - Simple Ways to Increase Sales as an e-Commerce Website

The online marketplace is a virtual paradise for consumers who love a bargain. Today’s e-commerce has become so evolved that consumers not only have purchasing power, but they also can influence maj...

Digital marketing agencies are fudging the numbers and distorting the outcomes for their clients

Many digital marketing agencies manipulate reports to make themselves look good, offering vanity stats that really provide no benefit to their clients. One of the most common mistakes companies make...

Travel

Pet-Friendly Summer Destinations in NZ

No one wants to leave their pet at home and why should you have to? When it comes to traveling around in a campervan hire New Zealand, you may not want to live your precious animal back home. You shou...

DriveMyCar

DON’T GET SLUGGED WITH THE SIX-HUNDRED-DOLLAR CHRISTMAS TAX Revealed: traditional car rental companies charging 3.3 times more to rent a vehicle over Christmas A comparison of rental costs per day...

Looking for a Romantic Destination? Here’s Why the Philippines May Be Perfect for You

Image Source: https://pixabay.com/en/couple-man-woman-girl-guy-love-2585328/Perhaps, you want a spot to celebrate your honeymoon after several months of wedding planning. Or, maybe you are just loo...