NEWSTART - means tested?
Not trying to get any of the recent handouts etc, but ordinarily, is Newstart mean tested?
I am
2 years to pensionable age
30 year career finished in 2017 - ill health
Income protection insurance ceased
Does house/super/savings/spouse income preclude Centrelink allowance?
Thankyou
usually assets are means tested expect for the house you live in. since covid 19 outbreak some rules have been waived so I would apply even if you don't qualify you may get special benefit instead.
https://www.servicesaustralia.gov.au/individuals/services/ce…
Jobseeker (Newstart) is definitely means tested
Assets
https://www.servicesaustralia.gov.au/individuals/topics/asse…
It is means tested but some things have been relaxed, such as waiving of certain waiting periods, decreased impact of partner income and decreased evidence required while claiming to streamline the claim process. If your spouse is working that may have the largest impact on your eligibility, but the partner income threshold has essentially been doubled to almost 80K. Your super will only affect you if you are of preservation age/drawing on it iirc, your own home will not affect your entitlement but any other real estate will be taken into account. Your savings will be taken into account but the deeming rates have been slightly relaxed and the liquid asset waiting period has been removed temporarily. I hope this helps and honestly, for the six-month corona supplement period, it is definitely worth testing your entitlement and get some of that sweet sweet stimulating happening.
Is your super vesting age really the pension age?
You may also qualify for a disability pension. In fact, this may be the preferable option if you stopped work due to ill health, as then you can also (probably) get NDIS support.
https://www.servicesaustralia.gov.au/individuals/services/ce…
oh, and check the coverage you have with your super. A lot of super policies include TPD and Death insurance. Even if yours doesn't, there are also rules about accessing super early due to ill health.
https://www.superguide.com.au/retirement-planning/legal-ways…
If your health prevents you from looking for work, you may be eligible for Disability pension. You will need a lot of supporting (medical) evidence.
I was made redundant. Had to wait 15 months before i could claim any benefits.
Rang Centrelink to start the process qhwn thw timw limit waa up. One question was how much i had in savings. The guy actually laughed and said, you want Newstart with that much in the bank.
So I asaume it counts. Years ago you had to use up any savings before you could get unemployment benefits.
More than likely if you've tried to do the right thing your whole life, you won't be eligible for anything.