Advance Payments
What Is An Advance Payment?
An advance payment allows you to receive a portion of your fortnightly entitlement early as a lump sum. It functions like an interest-free loan, which you repay automatically over the following 6 months (13 fortnights) through deductions from your regular payment.
Eligiblity Criteria!
To qualify for an advance payment, you must meet the following conditions:
1. Receive an eligible social security payment (such as the Age Pension, Disability Support Pension, or Carer Payment), and
2. Have received a qualifying entitlement continuously for at least 3 months immediately prior to applying, and
3. Owe no outstanding debt to the Commonwealth, and
4. Have fully repaid any advance payment received in the last 12 months (or remain within allowable advance limits), and
5. Be able to afford the fortnightly repayments without experiencing financial hardship.
How Much Can You Receive?’
The exact advance amount available depends on your payment rate, living arrangement, and financial capacity. Advance limits index regularly alongside pension adjustments.
If you are single and on a full age pension the minimum is $570.10 and the maximum is $1,710.30.
If you are a member of a couple and on a full age pension the minimum is $429.75 each and the maximum is $1,289.25 each.
In any 6 months you can only get:
· One advance at the maximum limit,
· Up to 2 advances of smaller amounts, or
· 3 advances at the minimum amount.
Centrelink determines your exact limit during the application based on your individual circumstances.
How to Apply?
You can submit an application using any of the following methods:
Online: Log into your Centrelink online account via myGov.
Phone: Use the Centrelink automated self-service phone system.
In Person: Visit a Service Australia service centre.
Nominee: An authorised nominee can apply on your behalf through their linked account.
You will need to declare your fortnightly income and ongoing expenses to verify that you can comfortably manage the repayments.
Repayments
Repayments are calculated automatically by Centrelink and deducted directly from your pension each fortnight over 6 months. You will see the exact fortnightly deduction amount before finalising your application.
Important Notice & Inquiries Policy
Rates Change Regularly: Payment amounts change frequently due to regular indexation. Do not rely solely on the figures listed on this page; always verify current rates directly with Services Australia.
Service Viability: Unless you are an existing client of My Age Pension, hiring our firm to submit an advance payment application on your behalf is not cost-effective. Professional fees would consume a significant portion of your advance payment, making the service unviable.
No External Queries: Our team does not respond to incoming email queries regarding advance payments. Please direct all questions directly to Centrelink.