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Payment destination

A person's payment destination is where their DVA payment will be sent. This most commonly is by direct credit to an account with a financial institution. However, the pensioner may apply for exemption from direct credit and subject to approval, the payment destination may be an individual cheque payment. A pensioner may nominate a payment destination of a group payment, such as an aged care facility, which must also be appointed as an agent.

 

 

Examples of a financial institution are a bank, building society or credit union.

According to section 58D of the VEA, an agent is a person who has been nominated by a pensioner and approved by the Commission to receive pension instalments on behalf of the pensioner. The agent must:

  • pay the pension or allowance to the pensioner; or
  • manage the pension or allowance in accordance with the pensioner's wishes.

 

 

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