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Powers of Commission in Relation to Direct Credit Payments
Commission authority to make direct credit paymentsVEA ?
- make payments in a manner determined by the Commission,
- make payments at intervals that the Commission specifies, and
- direct that all or part of a person's pension instalments be paid into an account with a bank, credit union, building society or other financial institution account.
Commission authority to require pensioner to nominate accountVEA ?
The Commission has the:
- authority to require a pensioner to nominate a financial institution for direct payment of pension or other allowance,
- authority to withhold payments should the request to nominate an account not be complied with, and
- discretion to subsequently restore pension payments from the date of suspension if the pensioner later nominates an account.