11.5.1 Overview of Manner of Payment

What methods of payment can be used to pay pension instalments

The Commission has approved three different methods of paying pensioners' fortnightly pension instalments. The three methods are:

• direct credit    
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  Payment by Direct Credit

  Section 11.5.2

  Payment Method for Overseas Residents

  Section 11.5.6

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• group payment    
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  Payment by Group Payment

  Section 11.5.4

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• individual cheque (only in exceptional circumstances)    
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  Payment by Individual cheque

  Section 11.5.5

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Preferred method of payment

Direct credit is the Commission's preferred payment option for pensions.     

Frequency of pension payments

Pension instalments are payable to eligible pensioners on a fortnightly basis, on a Thursday. This is called the pension payday.     

What if the regular payday is a public holiday?

The VEA allows instalments of pension to be paid earlier than the DVA pension payday on such occasions as national public or bank holidays, such as Christmas Day, ANZAC Day or Australia Day.