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C08/2003 MARCH 2003 GLOBAL REFRESH OF MANAGED INVESTMENTS (MIs) AND SHARES (SHs) MAILOUT

Document

DATE OF ISSUE:  12 MARCH 2003

MARCH 2003 GLOBAL REFRESH OF MANAGED INVESTMENTS (MIs) AND SHARES (SHs) MAILOUT

Purpose of Instruction

This Departmental Instruction is to provide information about processing arrangements for the March 2003 Global Refresh of Managed Investments and Shares advice letter mailout.

BOB TURNER

BRANCH HEAD

INCOME SUPPORT

11 March 2003


Overview

Introduction

In March and September of each year the Department varies certain pension and allowance rates and thresholds in line with movements in the Consumer Price Index (CPI) and/or Male Total Average Weekly Earnings (MTAWE).  We do not send advice letters to all pensioners whose pensions are adjusted because of the CPI or MTAWE - information on these increases is contained in the latest edition of VetAffairs.  Letters are only sent to those pensioners on less than the maximum rate of income support pension who have managed investments (MIs) and/or shares (SHs) in their assessment.

This Departmental Instruction provides information about the mailout and advises of the significant issues relating to the exercise.  Letters will be sent to pensioners affected by the events as set out in the following paragraph.

Significant Issues- of Managed Investment and Share Global Refresh Mailout

The March 2003 Quarterly mailout will incorporate the following events for payday 3 April 2003 (WEF 20 March 2003).  Issues of significance with regard to this mailout are as follows:

  • Letters will be sent to all less than maximum rate income support recipients;
  • The asset value of managed investment (MI) and share (SH) data will be reassessed;
  • A Managed Investment and/or Share Information Attachment will be provided for all less than maximum rate income support recipients who have MIs and/or SHs in their assessment.  This Attachment will provide a full listing of the client's MIs and/or SHs regardless of what has been reassessed; 
  • If a treatment change occurs as a result of the reassessment a letter will be produced; and
  • Clients who are affected by the Period of Grace provisions will receive an advice.


Letter Content

Advice Letter Target Audience

A letter will be produced for the following clients:

  • All less than maximum rate service pensioners (SP), income support supplement recipients (ISS) and age pensioners (AP)
  • Max rate SP/ISS/AP recipients who move to less than max rate as a result of the reassessment
  • Less than max rate SP/ISS/AP recipients who move to max rate as a result of the reassessment
  • SP/ISS/AP recipients who are reduced to nil as a result of the reassessment
  • Treatment changes as a result of the Statutory Increase (SI) or global refresh of MIs and/or SHs reassessment.
  • Clients affected due to coming or going on or off the Period of Grace

Financial Assets Reassess-ment

The asset value of managed investment and/or share data will be reassessed as part of this process.  Clients with MI and/or SH data in their assessment will receive a paragraph advising them of the ...Change to Value of Shares and/or Managed Investments...

CPI

There will be a brief reference made in the advice letters about the CPI increase after the 'Change to Value of Shares and/or Managed Investments' paragraph.

Male Total Average Weekly Earnings (MTAWE)

There will be a brief reference to MTAWE made in the advice letters after the 'Change to Value of Shares and/or Managed Investments' paragraph.

Advice on CPI and MTAWE variations will be included in the March edition of VetAffairs - VetAffairs distribution is to commence on Wednesday, 19th March 2003 to be completed by Wednesday, 26th March 2003.


Obligations suppressed

Obligations are to be suppressed for all letters produced.  Reference will be made to previous obligations issued to clients and in the case of Service Pension and Income Support Supplement recipients, reference will also be made to obligations provided in the 'You and Your Pension' Booklet.

The Financial Obligations paragraph (including the Prescribed Rates) will be present in the advice for all clients (excluding Blinded pensioners and clients reduced to nil.)

$1 Minimum Variation Rules

The $1min rules will be applied to all less than max rate SP and ISS variation cases ie., an increase or reduction must be equal to or greater than a $1 amount to receive an advice.

$1min rules do not apply to Age Pensioners.

Continuation Cases

Cases where the 'old rate' resulting from the Statutory Increase (SI) processing and the 'new rate' resulting from MI/SH refresh end up being the same amount after the reassessment will not have an advice produced.

Treatment Advices to be Checked

As is the procedure for quarterly processing all Overseas and Enclosure (treatment changes) advice letters will be printed at the IBM printhub and sent via courier to each State Office.  We request that these letters be checked for accuracy prior to sending, and reconciled against the reports received by each State Office.

Group Addressees/
Special Register  Advices

Special Register advices are to be streamed for the South Australian State Office only - they will be printed at the IBM Printhub in Sydney and forwarded to the South Australia State Office.  All other State's Special Register advices will form part of the bulk advices and be printed and sent from the mailing house.


Blinded Clients will not Receive an Advice

As blind persons are not subject to the income and assets test they will not receive an advice regardless of whether they have MIs and/or SHs in their assessment - as any changes to their MI/SHs as a result of the reassessment will not affect their rate of pension.  However, if they are in a joint assessment where their partner is not blind the non blind member of the couple will receive a single advice.

General Information Sheet

Each letter will contain a General Information Sheet (GIS).  This will act as the consistent last page for gatemarking purposes at the mailing house.  The GIS provides details of new rates and threshold information.

Single & Joint Letters

All Service Pensioners and Income Support Supplement recipient couples will receive a joint letter, provided the pensioner addresses are identical.

Age Pensioner couples will receive separate letters.


Production of Advice Letters

Processing

Processing is scheduled to run from PM Thursday, 13th March until AM Monday 17th March 2003.

Critical Dates

Processing Weekend within DVA (includes 'advices' processing)

Thursday, 13th March 2003 - Monday, 17th March 2003

Commence dispatch of Production Data to SMS

Monday, 17th March 2003

Commence printing Advice Letters

Tuesday, 18th March 2003

End Printing Advice Letters

Friday, 21st March 2003

National Lodgement of Advice Letters with Australia Post

On Friday, 21st March 2003

Client Numbers

The following is a summary of client numbers in each State.  The numbers are approximates only:

STATE

NO. OF LETTERS

(Approx Only and includes Special Register, Overseas and Enclosures)

New South Wales (incl ACT)

9,239

Victoria

7,013

Queensland

5,880

Western Australia

2,825

South Australia

2,679

Tasmania

930

TOTAL

28,566 (Based on Sept 2002 figures)

Printing of Letters

Security Mailing Services (SMS) Sydney, will print, fold and insert advice letters in the week from Tuesday, 18th March through until Friday 21st March 2003.


Lodgement of Letters

All State's letters will be lodged with Australia Post on Friday, 21st March 2003.  A representative from National Office will notify and confirm all lodgement details.

The State Office Contacts for this exercise will be given progress reports and advised of any changes to this timetable.


Issues Requiring State Office Action

Special Register, Overseas & Enclosures

Special Register (for SA State Office only), Overseas and Enclosure (treatment changes) advice letters will be printed at the IBM Printhub in Sydney and sent via courier to each State Office.  These should be checked for accuracy, and reconciled against the reports received by each State Office.

Each State Office will receive a report detailing the advice letters produced in each of these categories.  We will advise SSOs in each State when to expect delivery of these letters, and it is essential that Systems Delivery is notified if they do not arrive.  It is also necessary to advise Renee Arkinstall, Systems Delivery on (02) 6289 6777 if the delivered letters do not match reports.

Reprints of selected letters

Reprints of individual Quarterly Advice letters can be requested via VIEW - Advices Tab reprint facility.

'HELD' Advices to be Forced

As part of the Batch processing run any advices in 'Held' status will be forced to print.  Forced held advices will print at each respective State Office's nominated printer as part of the production processing.  Please ensure your designated printer is fully operational during the processing period.  These advices will need to be checked to ensure the information in them is correct prior to posting.

Holding of daily advice letters

Daily payment advice letters produced after the processing run of 13th  - 17th March 2003 for clients who have MIs and/or SHs in their assessment, should be held pending notification that the quarterly letters have been dispatched.  This will ensure that pensioner's receive their advice letters in chronological order.


State Office Contacts

State Office Point of Contact

A contact person from each State has previously been identified to act as a liaison point for the National Office Advice's Team and will be the responsible person for distributing any information regarding the global refresh and mailout to staff.

State Office Contacts for the March quarterly processing are:

NSW: Ganes Jagadeeswaran - 02 9213 7106

VIC: David Price - 03 9284 6379

QLD: Steve Jensen - 07 3223 8835

SA: Graham Bate - 08 8290 0425

WA: Kim Gooding - 08 9366 8549/John Gliddon - 08  9366 8417

TAS: Bryon Kelly - 03 6221 6698

ACT: Kristie Chynoweth - 02 6289 6019

National Office Contacts

Feedback from State Offices

Any concerns regarding letters produced as part of this run should be directed to the National Office Contact Officer, Pat Webb.  Please forward your feedback on this exercise to the National Office Contact Officer, noting the nature of the query together with any relevant information - every effort will be made to develop solutions to address any concerns raised.  Please ensure that problems are reported as early as possible.


Contacts

There will be one National Office contact for this mailout.  Any queries regarding advice wording, data cartridges, mail house printing and  lodgement of letters with Australia Post should be referred to:

Pat Webb

(02) 6289 6444 (Phone)

(02) 6289 6553 (Fax)

pat.webb@dva.gov.au (email)

Systems issues should be directed to:

Warren Walsh on (02) 6289 6030 or Renee Arkinstall on (02) 6289 6777


Letter Mockups

Letters

Prior to the issue of this Departmental Instruction, the State Office Contact Officers for this exercise and Manager's Income Support were provided with copies of the proposed paragraph sequencing and mock-ups of advice letters for this run.

All recommendations received have been taken into consideration for the final version of paragraphs and sequencing.  An email will be forwarded to the State Contact Officers advising of the changes in respect of all comments received.

Copies of the amended advice letters for this run are at Attachment A of this DI.

Attachment A – Paragraph sequencing and Advice Letter Examples

Example 1: Overall Decrease - either from Maximum  Rate to less than Maximum Rate or decrease in Less than Max Rate Amount,  Payment Information Attachment, MI/SH Information Attachment, General Information Sheet (GIS)

Example 2: Increase from Less than Maximum Rate to Maximum Rate  - WITH Managed Investments and/or Shares in Assessment.  Service Pension - Single advice

Example 3: Overall Increase - remaining on Less than Maximum Rate Income Support Supplement, WITH MIs/SHs in assessment.  Payment Information Attachment, MI/SH Information Attachment, and GIS

Example 4: Age Pension increase remaining on Less than Maximum Rate, Disability Pension in payment, WITH MIs/SHs in assessment.

Example 5: Reduction to Nil, with MIs/SHs in assessment, Single advice


Letter Variables

Please note, in the following samples:

  • Letterhead, DC name and signature block will change according to State;
  • The words “service pension”, “age pension”, “income support supplement” each represent variables which will appear for those clients in receipt of the applicable pension.
  • State specific 'closing' paragraphs with the preferred contact telephone number for Income Support related issues will be used for this mailout.


ATTACHMENT A

PARAGRAPH SEQUENCING AND TARGET AUDIENCE

Note: Advices will be produced for all clients receiving a less than maximum rate income support payment for clients WITH Managed Investments and/or Shares in their assessment.  These clients will receive the following paragraphs:

Paragraph

To Whom

State specific letterhead

All

Opening (Introduction) - RTRAIN

All

Change to value of shares and managed investments - Decrease - QTDECR

Increase - MCHPEN-

Red to Nils - QTLNIL

Only for those clients with Managed Investments and/or Shares in their assessment.

Effective Date - MSEFDT

All

Payment Information - PAYADV

All

Reduction to Nil para

Reduction to Nil cases

“You have been increased to the maximum rate of pension” - INCMAX

All increase to max rate cases

Fringe Benefits -Destroy PCC - FGNELS, FGNELJ

Reduction to Nil cases

Your Right to Re-Apply - RRARTN (Other Info)

Reduction to Nil cases

Treatment On/Off

Any cases where a change in treatment eligibility is detected (with or without MI/SHs in assessment)

Financial Obligations (incl Prescribed Rates) - IALMMJ, IALMMS, IALAPM, IALPAJ, IALMTW, IALMTJ, IALMAP, IALJAP, IAAILS, IAAILJ, IAAIAP

All (not Reduction to Nil cases or Blinded clients)

Other Obligations (Partial Obs) (reference to previous) - OBQTLY, OBQTAP

All (not Reduction to Nil cases)

Changes You Have Already Told Us About - THECAN (Other Info)

All

Your Right of Review - APPLAP, APPLSP

All

State specific closing paragraph and State Deputy Commissioner Signature

All

Payment Information Attachment including Payment Diversion Table - PAYINT/PADEST

All

Managed Investment and/or Shares Information Attachment

Only clients with MIs/SHs in their assessment.

General Information Sheet

All


EXAMPLE 1:

  • Overall Decrease - either from Maximum Rate to Less than Max Rate or Decrease in Less than Max Rate amount with MIs/SHs in assessment.
  • Service Pension - Joint advice

T-ADVICE-RETURN-ADDRESS _

_

Commonwealth Department of

Veterans' Affairs_

Contact:STATE OFFICE

Telephone:

AMP Place

10 Eagle Street

Brisbane Qld 4000

1!!11 IIIll l 111 1I!! (Barcode?)Postal Address:

JOHN SMITHGPO Box 651 Brisbane Qld 4001

MARY SMITHTelephone:

29 MARGARGET STREETGeneral inquiries: 133 254

IPSWICH   QLD   4010Non-metropolitan callers: 1800 555 254

Dialling from interstate: 1800 13 1945

Facsimile: (07) 32238585

17 March 2003

YOUR FILE NUMBER IS TX000112

Dear Mr and Mrs SMITH,

I am writing to you about your Service Pension payment from Veterans' Affairs

Change to Value of Shares and/or Managed Investments

The asset value of your shares which are listed on the Australian Stock Exchange and/or unit based managed investments has been reassessed.  The adjusted value of these investments has been used to work out your service pension payment and has resulted in an overall decrease to the amount of service pension paid to you.  Please note that the value of other income and assets you may have has not been affected by this reassessment.

Please refer to the 'Managed Investments and Shares Information' Attachment included in this letter.  This Attachment details all your managed investments and/or shares regardless of whether there has been a change to that managed investment or share.  We have not provided you with a complete listing of any other income or assets you may have in your assessment, as they remain unchanged.  However, they continue to be used in assessing the amount of service pension you are paid.

Your pension has also been adjusted in line with movements in the Consumer Price Index (CPI) and Male Total Average Weekly Earnings (MTAWE).

This change will take effect from 20 March 2003.

Payment Information

Details of your payments are provided in the Payment Information Attachment.

Financial Obligations

You need to tell us within 14 days (28 days if you are living overseas or receive Remote Area Allowance) if your income is more than $XXXX.XX per fortnight or the value of your assets, apart from your home, is more than $XXXXXX.XX.  Income includes deemed income from your financial assets and income from other sources.

Other Obligations

We have explained your obligations to you in previous letters and the booklet 'You and Your Pension'.  These obligations still apply.

Changes You Have Already Told Us About

If you have told us recently about a change to your income and assets or your domestic situation, it may not have been processed before this letter was sent.  If this is the case, we will send you another letter providing details of your new pension assessment when that change has been finalised.  This normally takes no more than 4 weeks.

Your Right of Review

If you do not agree with this variation to your pension, you may apply to have it reviewed by a Review Officer at this office.  If you do decide to apply, you must do so within three months of being advised of this decision.  Such a request for review must be in writing, and must set out your reasons for seeking this review.

If you have any questions about matters concerning Income Support issues you should contact our Income Support Staff on 1300 550 452.  For any other inquiries please contact the Department at the address or telephone number shown at the top of this letter.

Yours sincerely,

DAVID MACKRELL

Deputy Commissioner


PAYMENT INFORMATION ATTACHMENT

The Department calculates service pension payments on a daily basis.  This means that your fortnightly pension payment is made up of 14 days of entitlement of pension.  Therefore, when there is a change to your circumstances on any particular day in the fortnight - your pension will be adjusted from that day.  For that reason your pension payment may be different for one or two paydays after a reassessment.

03 APRIL 2003 VeteranPartner

TOTAL FORTNIGHTLY PAYMENTxxx.xxxxx.xx

This is made up of:

- xxxxxxxxx xxxxxxxxxxxxxxx.xxxxx.xx

- xxxxxxxxxxx xxxxxxxxxxxx    x.xx    x.xx

17 APRIL 2003VeteranPartner

TOTAL FORTNIGHTLY PAYMENTxxx.xxxxx.xx

This is made up of:

- xxxxxxxxx xxxxxxxxxxxxxxx.xxxxx.xx

- xxxxxxxxxxx xxxxxxxxxxxx    x.xx    x.xx

Payment Destination

The following table shows where your pension payments are going.

Date

Name

Payment Destination

Amount Deposited

03/04/03

J SMITH

CBA 0302030

$xxx.xx

M SMITH

CBA 0302033

$xxx.xx

TOTAL

$xxx.xx

17/04/03

J SMITH

CBA 0302030

$xxx.xx

M SMITH

CBA 0302033

$xxx.xx

TOTAL

$xxx.xx

Please Note:  If you have an overpayment or lump sum advance which is currently being recovered, the amount paid into your account may be less than the total fortnightly payment shown above.


MANAGED INVESTMENTS AND SHARES INFORMATION

(Information current as at 17 March 2003)

You are receiving service pension at less than the maximum rate payable.

You are currently paid under the income test.  The total of your assessed gross fortnightly income is T-TOTAL-FORT-INCOME.  The total of all your assets (excluding any deductible assets) is T-TOTAL-ASSETS.

Information about your managed investments and shares is provided below.

Your managed investments and shares have been automatically updated.  The information below sets out the new values for these products.

Managed Investments

Description

Units

Asset Amount

VVVVVVVVVV

XX

$XX.XX

CCCCCCCCCCCCC

XXX

$XX.XX

Listed Securities and Unlisted Public Securities

Description

No. of Shares

Asset Amount

XXXXXX

X,XXX

$XX,XXX.XX

QQQQQQQQQQQQQ

XXX

$    X,XXX.XX

Note: Income from financial assets is deemed.

Please note:  We have not provided you with a complete listing of any other income or assets you may have in your assessment, as they remain unchanged as a result of this reassessment.  However, they continue to be used in assessing the amount of service pension you are paid.

You need to notify the Department if the list of your Managed Investments and/or Shares is incomplete or incorrect; or the number of shares or units you hold has changed.


This is an example of the General Information Sheet (GIS) for Service Pensioners that will be used in the March mailout.  There is a separate GIS for both income support supplement and age pensioner recipients. PLEASE NOTE:  Rates and thresholds have NOT been updated to reflect the March CPI or MTAWE changes to rates or thresholds as at the time of producing this document, changes had not been released.  The GIS will only be one page (2 images) in production.

GENERAL INFORMATION ON SERVICE PENSION RATES AND LIMITS

(Information current as at T-ADVICE-PRINT-DATE)

MAXIMUM RATES OF SERVICE PENSION (excludes pharmaceutical allowance)

Singles Rate$429.40 (per fortnight)

Couples Rate (each)$358.40 (per fortnight)

PENSION INCOME LIMIT (per fortnight)

Before Service Pension ReducesCut Off*

Singles Rate$116.00$1,204.00

Couples Rate (combined)$204.00$2,010.50

These limits may increase for each dependent child or student up to the age of T-CHILD-AGE, or if rent assistance is payable.

PENSION ASSETS LIMIT

Before Service Pension ReducesCut Off*

Home Owner

Singles Rate$145,250$290,500

Couples Rate (combined)$206,500$447,500

Non Home Owner

Singles Rate$249,750$395,000

Couples Rate (combined)$311,000$552,000

These limits may increase for each dependent child or student up to the age of T-CHILD-AGE, or if rent assistance is payable.

NOTE: *Income and assets cut off limits apply to all service pensioners except blinded service pensioners.

GOLD CARD INFORMATION

NOTE 1: These income and asset limits apply to the Gold Card only.  Different income and asset limits apply to the pension.  These limits can be found at the top of the page.

NOTE 2: If your disability pension is from 50% - 95% of the general rate and you also receive any amount of service pension, the Gold Card income and asset cut off limits do not apply to you.  Should your service pension payments cease due to excess income or assets you will no longer be eligible for the Gold Card.

NOTE 3: If you are aged 70 years or over, and you are a veteran who served in Australia's Defence Force, and you have qualifying service from any conflict (or you are an Australian Mariner with qualifying service from World War II), the Gold Card income and assets cut off limits shown below DO NOT APPLY TO YOU as your Gold Card is NOT affected by your income and/or assets.

GOLD CARD INCOME CUT OFF LIMIT

Singles Rate$331.50 (per fortnight)

Couples Rate (combined)$576.00 (per fortnight)

Add $71.10 per fortnight for each dependent child or student to the age of T-CHILD-AGE.

GOLD CARD ASSETS CUT OFF LIMIT

Home Owner

Singles Rate$174,000

Couples Rate (combined)$256,250

Non Home Owner

Singles Rate$278,500

Couples Rate (combined)$360,750

Add approximately $6,250 for each dependent child or student up to the age of T-CHILD-AGE.

DEEMING

Deeming assumes that any money you have invested in financial assets is earning a particular amount of income regardless of the actual amount earned.  The deeming rates are:

Singles

Low Rate:- 2.5% interest up to the threshold of $34,400

High Rate:- 4% interest for the remaining balance

Couples

Low Rate:- 2.5% interest up to the threshold of $57,400

High Rate:- 4% interest for the remaining balance

ILLNESS SEPARATED COUPLES

Couples separated due to ill health are paid at the single rate of service pension, but have their income and assets assessed as a couple.

RENT ASSISTANCE

You may be eligible for rent assistance if you pay rent to a non-government body or landlord.  The amount of rent assistance you receive depends on the amount of rent you pay and your family circumstances.  Rent assistance is paid at the rate of 75 cents in the dollar for every dollar you pay over the set rent limits.

When calculating the amount of rent assistance payable to a service pension recipient, any disability pension received by that person or their partner, is counted as income and may reduce the rate of rent assistance payable.

Maximum Amount of Rent Assistance Payable (per fortnight)

No children1-2 children3 or more

children

Singles Rate$92.00$107.60$122.20

Couples Rate

(combined)$86.80$107.60$122.20

Rent Limits (per fortnight)

No children1-2 children3 or more

children

Singles Rate$81.60$107.40$107.40

Couples Rate

(combined)$133.00$159.00$159.00


EXAMPLE 2:

  • Increase from Less than Max Rate to Maximum Rate amount with MIs/SHs in assessment.
  • Service Pension - single advice

T-ADVICE-RETURN-ADDRESS _

_

Commonwealth Department of

Veterans' Affairs_

Contact:STATE OFFICE

Telephone:

AMP Place

10 Eagle Street

Brisbane Qld 4000

1!!11 IIIll l 111 1I!! (Barcode?)Postal Address:

JOHN SMITHGPO Box 651 Brisbane Qld 4001

30 MARGARET STREETTelephone:

IPSWICH   QLD   4010General inquiries: 133 254

Non-metropolitan callers: 1800 555 254

Dialling from interstate: 1800 13 1945

Facsimile: (07) 32238585

T-ADVICE-PRINT-DATE

YOUR FILE NUMBER IS T-FILE-NUMBER

T-ADVICE-SALUTATION,

I am writing to you about your T-PENSION-SP-ISS-AP payment from Veterans' Affairs.

Change to Value of Shares and/or Managed Investments

The asset value of your shares which are listed on the Australian Stock Exchange and/or unit based managed investments has been reassessed.  The adjusted value of these investments has been used to work out your T-PENSION-SP-ISS-AP payment and has resulted in an increase to the amount of T-PENSION-SP-ISS-AP paid to you.  Please note that the value of other income and assets you may have has not been affected by this reassessment.

Please refer to the Managed Investments and Shares Information Attachment included in this letter.  This Attachment details all your managed investments and/or shares regardless of whether there has been a change to that managed investment or share.  We have not provided you with a complete listing of any other income or assets you may have in your assessment, as they remain unchanged.  However, they continue to be used in assessing the amount of T-PENSION-SP-ISS-AP you are paid.

Your pension has also been adjusted in line with movements in the Consumer Price Index (CPI) and Male Total Average Weekly Earnings (MTAWE).

You have been increased to the maximum rate of T-PENSION-SP-ISS-AP.

This change will take effect from T-CLNT-EFFECTIVE DATE.

Payment Information

Details of your payments are provided in the Payment Information Attachment.

Financial Obligations

You need to tell us within 14 days (28 days if you are living overseas or receive Remote Area Allowance) if your income is more than $XXXX.XX per fortnight or the value of your assets, apart from your home, is more than $XXXXXX.XX.  Income includes deemed income from your financial assets and income from other sources.

Other Obligations

We have explained your obligations to you in previous letters and the booklet 'You and Your Pension'.  These obligations still apply.

Changes You Have Already Told Us About

If you have told us recently about a change to your income and assets or your domestic situation, it may not have been processed before this letter was sent.  If this is the case, we will send you another letter providing details of your new pension assessment when that change has been finalised.  This normally takes no more than 4 weeks.

Your Right of Review

If you do not agree with this variation to your pension, you may apply to have it reviewed by a Review Officer at this office.  If you do decide to apply, you must do so within three months of being advised of this decision.  Such a request for review must be in writing, and must set out your reasons for seeking this review.

If you have any questions about matters concerning Income Support issues you should contact our Income Support Staff on 1300 550 452.  For any other inquiries please contact the Department at the address or telephone number shown at the top of this letter.

Yours sincerely,

DAVID MACKRELL

Deputy Commissioner

ATTACHMENTS

  • Payment Information Attachment - YES
  • Managed Investments and/or Shares Information Attachment - YES
  • General Information Sheet - YES


EXAMPLE 3:

  • Overall Increase - remaining on Less than maximum Rate Income Support Supplement with MIs/SHs in assessment.
  • Income Support Supplement- single advice
  • War Widows Pension payable

T-ADVICE-RETURN-ADDRESS _

_

Commonwealth Department of

Veterans' Affairs_

Contact:STATE OFFICE

Telephone:

AMP Place

10 Eagle Street

Brisbane Qld 4000

1!!11 IIIll l 111 1I!! (Barcode?)Postal Address:

MARY SMITHGPO Box 651 Brisbane Qld 4001

33 MARGARET STREETTelephone:

IPSWICH   QLD   4010General inquiries: 133 254

Non-metropolitan callers: 1800 555 254

Dialling from interstate: 1800 13 1945

Facsimile: (07) 32238585

T-ADVICE-PRINT-DATE

YOUR FILE NUMBER IS T-FILE-NUMBER

T-ADVICE-SALUTATION,

I am writing to you about your T-PENSION-SP-ISS-AP payment from Veterans' Affairs.

Change to Value of Shares and/or Managed Investments

The asset value of your shares which are listed on the Australian Stock Exchange and/or unit based managed investments has been reassessed.  The adjusted value of these investments has been used to work out your T-PENSION-SP-ISS-AP payment and has resulted in an increase to the amount of T-PENSION-SP-ISS-AP paid to you.  Please note that the value of other income and assets you may have has not been affected by this reassessment.

Please refer to the Managed Investments and Shares Information Attachment included in this letter.  This Attachment details all your managed investments and/or shares regardless of whether there has been a change to that managed investment or share.  We have not provided you with a complete listing of any other income or assets you may have in your assessment, as they remain unchanged.  However, they continue to be used in assessing the amount of T-PENSION-SP-ISS-AP you are paid.

Your pension has also been adjusted in line with movements in the Consumer Price Index (CPI) and Male Total Average Weekly Earnings (MTAWE).

This change will take effect from T-CLNT-EFFECTIVE DATE.

Payment Information

Details of your payments are provided in the Payment Information Attachment.

Financial Obligations

You need to tell us within 14 days (28 days if you are living overseas or receive Remote Area Allowance) if your income is more than $XXXX.XX per fortnight or the value of your assets, apart from your home, is more than $XXXXXX.XX.  Income includes deemed income from your financial assets and income from other sources.

Other Obligations

We have explained your obligations to you in previous letters and the booklet 'You and Your Pension'.  These obligations still apply.

Changes You Have Already Told Us About

If you have told us recently about a change to your income and assets or your domestic situation, it may not have been processed before this letter was sent.  If this is the case, we will send you another letter providing details of your new pension assessment when that change has been finalised.  This normally takes no more than 4 weeks.

Your Right of Review

If you do not agree with this variation to your pension, you may apply to have it reviewed by a Review Officer at this office.  If you do decide to apply, you must do so within three months of being advised of this decision.  Such a request for review must be in writing, and must set out your reasons for seeking this review.

If you have any questions about matters concerning Income Support issues you should contact our Income Support Staff on 1300 550 452.  For any other inquiries please contact the Department at the address or telephone number shown at the top of this letter.

Yours sincerely,

DAVID MACKRELL

Deputy Commissioner

ATTACHMENT

  • Payment Information Attachment - YES
  • Managed Investments and/or Shares Information Attachment - YES
  • General Information Sheet - YES - GIS for ISS is presented as follows - please note: bolded wording highlights changes to GIS for ISS.


This is an example of the General Information Sheet (GIS) for Income Support Supplement recipients that will be used in the March mailout.  There is a separate GIS for both service pensioner and age pensioner recipients. PLEASE NOTE: Rates and thresholds have NOT been updated to reflect the March CPI or MTAWE changes to rates or thresholds as at the time of producing this document, changes had not been released.  The GIS will print on one page (2 images) in production.

GENERAL INFORMATION SHEET ON INCOME SUPPORT SUPPLEMENT RATES AND LIMITS

(Information current as at T-ADVICE-PRINT-DATE )

MAXIMUM RATES OF INCOME SUPPORT SUPPLEMENT

War Widows and Widowers$127.20

If you have continuously received income support supplement (ISS) since before 31 October 1986, the ceiling rate is the amount payable immediately prior to 1 November 1986.

INCOME LIMIT (per fortnight)

Before ISS ReducesCut Off*

Singles Rate$871.50$1,189.50

Couples Rate (combined)$1,360.00$1,996.00

These rates may increase for each dependent child or student up to the age of T-CHILD-AGE, or if rent assistance is payable.

War Widow(er)'s pension is income for the purposes of income support supplement.

ASSETS LIMIT

Before ISS reducesCut Off*

Home Owner

Singles Rate$246,000$288,500

Couples Rate (combined)$360,500$445,500

Non Home Owner

Singles Rate$350,500$393,000

Couples Rate (combined)$465,000$550,000

These rates may increase for each dependent child or student up to the age of T-CHILD-AGE or if rent assistance is payable.

NOTE: *Income and assets cut off limits apply to all income support supplement recipients, except blinded recipients.

DEEMING

Deeming assumes that any money you have invested in financial assets is earning a particular amount of income regardless of the actual amount earned.  The deeming rates are:

Singles

Low Rate:- 2.5% interest up to the threshold of $34,400

High Rate:- 4% interest for the remaining balance

Couples

Low Rate:- 2.5% interest up to the threshold of $57,400

High Rate:- 4% interest for the remaining balance

RENT ASSISTANCE

You may be eligible for rent assistance if you pay rent to a non-government body or landlord.  The amount of rent assistance you receive depends on the amount of rent you pay and your family circumstances.  Rent assistance is paid at the rate of 75 cents in the dollar for every dollar you pay the set limits.

Maximum Amount of Rent Assistance Payable (per fortnight)

No children1-2 children3 or more children

Singles Rate$92.00$107.60$122.20

Couples Rate (combined)$86.80$107.60$122.20

Rent Limits (per fortnight)

No children1-2 children3 or more children

Singles Rate$  81.60$107.40$107.40

Couples Rate (combined)$133.00$159.00$159.00

IMPORTANT: Please note although rent assistance may be payable, the maximum combined rate of income support supplement and rent assistance cannot exceed the maximum rate of income support supplement listed above.


EXAMPLE 4:

  • Age pension increase, remaining on Less than maximum Rate with MIs/SHs in assessment.
  • DP in payment
  • Single Advice

T-ADVICE-RETURN-ADDRESS _

_

Commonwealth Department of

Veterans' Affairs_

Contact:STATE OFFICE

Telephone:

AMP Place

10 Eagle Street

Brisbane Qld 4000

1!!11 IIIll l 111 1I!! (Barcode?)Postal Address:

DAVID SMITHGPO Box 651 Brisbane Qld 4001

17 MARGARET STREETTelephone:

IPSWICH   QLD   4010General inquiries: 133 254

Non-metropolitan callers: 1800 555 254

Dialling from interstate: 1800 13 1945

Facsimile: (07) 32238585

T-ADVICE-PRINT-DATE

YOUR FILE NUMBER IS T-FILE-NUMBER

T-ADVICE-SALUTATION,

I am writing to you about your T-PENSION-SP-ISS-AP payment from Veterans' Affairs.

Change to Value of Shares and/or Managed Investments

The asset value of your shares which are listed on the Australian Stock Exchange and/or unit based managed investments has been reassessed.  The adjusted value of these investments has been used to work out your T-PENSION-SP-ISS-AP payment and has resulted in an increase to the amount of T-PENSION-SP-ISS-AP paid to you.  Please note that the value of other income and assets you may have has not been affected by this reassessment.

Please refer to the Managed Investments and Shares Information Attachment included in this letter.  This Attachment details all your managed investments and/or shares regardless of whether there has been a change to that managed investment or share.  We have not provided you with a complete listing of any other income or assets you may have in your assessment, as they remain unchanged.  However, they continue to be used in assessing the amount of T-PENSION-SP-ISS-AP you are paid.

Your pension has also been adjusted in line with movements in the Consumer Price Index (CPI) and Male Total Average Weekly Earnings (MTAWE).

This change will take effect from T-CLNT-EFFECTIVE DATE.

Payment Information

Details of your payments are provided in the Payment Information Attachment.

Financial Obligations

You need to tell us within 14 days (28 days if you are living overseas) if your income is more than $XXXX.XX per fortnight or the value of your assets, apart from your home, is more than $XXXXXX.XX.  Income includes deemed income from your financial assets and income from other sources.

Other Obligations

We have explained your obligations to you in previous letters. These obligations still apply.

Changes You Have Already Told Us About

If you have told us recently about a change to your income and assets or your domestic situation, it may not have been processed before this letter was sent.  If this is the case, we will send you another letter providing details of your new pension assessment when that change has been finalised.  This normally takes no more than 4 weeks.

Your Right of Review

If you do not agree with a decision, you may apply to have it reviewed by a Review Officer at this office.  If you decide to apply it may be to your advantage to do so quickly.  If you apply for a review of the decision more than 13 weeks from the day this notice is given to you, arrears can only be paid from the date we receive your application.  A request for a review must be in writing and set out your reasons for seeking a review.

If you have any questions about matters concerning Income Support issues you should contact our Income Support Staff on 1300 550 452.  For any other inquiries please contact the Department at the address or telephone number shown at the top of this letter.

Yours sincerely,

DAVID MACKRELL

Deputy Commissioner as Delegate of the Secretary

ATTACHMENTS

  • Payment Information Attachment - YES
  • Managed Investments and/or Shares Information Attachment - YES
  • GIS - YES


EXAMPLE 5:

  • Reduction to Nil with MIs/SHs in assessment.
  • Single Advice