C42/2002 SEPTEMBER 2002 GLOBAL REFRESH OF MANAGED INVESTMENTS (MI) AND SHARES (SH) MAILOUT
DATE OF ISSUE: 10 SEPTEMBER 2002
SEPTEMBER 2002 GLOBAL REFRESH OF MANAGED INVESTMENTS (MI) AND SHARES (SH) MAILOUT
Purpose of Instruction |
This Departmental Instruction is to provide information about processing arrangements for the September 2002 global refresh of Managed Investments and Shares advice letter mailout. |
ROGER WINZENBERG
BRANCH HEAD
INCOME SUPPORT
10 — th September 2002
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 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 September 2002 Quarterly mailout will incorporate the following events for payday 3 October 2002 (WEF 20 September 2002). Issues of significance with regard to this mailout are as follows:
|
Letter Content
Advice Letter Target Audience |
A letter will be produced for the following clients:
|
DOCGEN2 Project - New Advice Format |
The new advice format has been designed to standardize and simplify the look of advices by introducing a succinct and more readily understandable letter. As part of the new format, the advices are to be separated into two parts, a letter and a series of attachments. The main formatting change to be featured in the September advice letters will be the introduction of the Payment Information Attachment (PIA). The PIA will contain single or multiple payment boxes as well as all other payment related information ie., all information relating to payment diversions (bank account details), arrears etc will be taken out of the body of the advice. Reference will be made in the letter directing pensioners to the Payment Information Attachment for details about their payments - this is a new paragraph. For further information on the new advice format for September - Please refer to the advice 'mockups' provided at Attachment A. Additional information detailing the new advice formatting changes as they impact upon daily advices will be provided as part of that process - should you have any questions regarding the daily advice changes, the contact officer is Renee Arkinstall (02 6289 6428). |
Australia Post - DPID (Delivery Point Identifier) - Barcoding |
Australia Post has introduced a new program of equipment to increase the efficiency of mail sorting and delivery. Part of this project calls for the installation of new Barcode Sorters at its mail centres to increase sort rates and to allow the introduction of deep sorting - down to individual Postie level. These sorting machines are capable of sorting incoming mail via a barcode read from letters. To implement barcoding for letters, Australia Post has allocated a unique 8 digit DPID to each of the delivery addresses within Australia. The DPID is encoded to form the main part of the customer barcode. It is printed in barcode format on letters as part of an address. The DPID - Barcode will print on the line above the name and address block on all letters automatically produced. While the barcode will be included when printing daily advices, the Barcode will only be used for mail sorting of batch or bulk mailouts. It is with the bulk mailouts that the Department is able to take advantage of reduced rates of postage, and providing a barcode is an Australia Post requirement for postage discounts. So while the barcode will print in daily advice address blocks it will not be used for letter sorting purposes and is not required to be displayed in an envelope address window box when posting a letter from the Branch Office. |
Implementation of Indexation of Income Support Supplement & Service Pension to War Widow/ers |
Commencing 20 — th September 2002, and effective for payday 3 — rd October 2002, ISS and SP paid to war widows and widowers will be indexed by the same percentage applicable to the maximum basic rate of service pension. From that date ISS and SP will be increased twice yearly in March and September to reflect the increases to the CPI and MTAWE. Amendments to advices wording are minimal to accommodate the indexation of ISS and changes are reflected in the advice 'mockups' attached. The General Information Sheet (GIS) will be updated to reflect any adjustments to the maximum rate of ISS when indexation occurs. A new paragraph note will appear in the GIS under the Rent Assistance information advising that '...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'. Please note: A further mailout is being undertaken to advise approximately 81,000 war widows and war widowers about the commencement of the Budget 2002 initiative to index the ceiling rate of income support supplement (ISS) and service pensions (SP) payable. A separate Stateline will be issued providing details of this mailout which is scheduled to occur shortly after the September global refresh mailout. |
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 Managed Investments and/or Shares... |
CPI |
There will be a brief reference made in the advice letters about the CPI increase after the 'Change to Value of Managed Investments and/or Shares' 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 Managed Investments and/or Shares' paragraph. Advice on CPI and MTAWE variations will be included in the September edition of VetAffairs - VetAffairs distribution is to commence on Wednesday, 11 — th September 2002 to be completed by Wednesday, 18 — th September 2002. |
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 always request that these be checked for accuracy, and reconciled against the reports received by each State Office. |
Change to procedures for Special Register Advices |
Previously, all State's Special Register advice letters were printed at the IBM Printhub and forwarded to each state office for checking and posting. Following consultation with each State, we will now return only the South Australian Special Register advices produced from each batch processing run to 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. |
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. Pensioner couples where one member of the couple is 'blind' will also receive separate advices. |
Production of Advice Letters
Processing |
Processing is scheduled to run from Friday evening 13 — th September until Monday 16 — th September 2002. |
Critical Dates |
Processing Weekend within DVA (includes 'advices' processing) |
Friday (pm), 13 — th September 2002 - Monday (pm), 16 — th September 2002 |
Dispatch Production Data to SMS |
Monday, 16 — th September 2002 |
Commence printing Advice Letters |
Tuesday, 17 — th September 2002 |
End Printing Advice Letters |
Friday, 20 — th September 2002 |
Lodgement of Advice Letters with Australia Post |
On Friday, 20 — th September 2002 |
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) |
10,004 |
Victoria |
7,261 |
Queensland |
5,932 |
Western Australia |
2,742 |
South Australia |
2,834 |
Tasmania |
1,113 |
TOTAL |
29,886 |
Printing of Letters |
Security Mailing Services (SMS) Sydney, will print, fold and insert advice letters in the week from Tuesday 17 — th September through until Friday 20 — th September 2002. |
Lodgement of Letters |
All State's letters will be lodged with Australia Post on Friday 20th September 2002. A representative from National Office will notify details of lodgement for each State as they occur. 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 (SA State Office only), Overseas and Enclosure (treatment changes) advice letters will be printed at the IBM Printhub 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 Carol Walsh, Systems Delivery on (02) 6289 6729 if the delivered letters do not exactly match the 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 13 — th - 16 — th September 2002, 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 September quarterly processing are: NSW: Genia Sacharczuk - 02 9213 7106 VIC: David Price - 03 9284 6379 QLD: Steve Jensen - 07 3223 8835 SA: Craig Bettess - 08 8290 0425 WA: Kim Gooding - 08 9366 8549/John Gliddon - 08 9366 8417 TAS: Chris Craven - 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. At the end of this process we will be collecting and collating all State feedback to analyse issues raised and develop solutions to address any concerns raised. Any problems noted should be reported to the National Office Contact Officer with the nature of the query and any relevant information pertaining to the query. 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: Carol Walsh on (02) 6289 6729 |
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:
|
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 SMITH — GPO Box 651 Brisbane Qld 4001
MARY SMITH — Telephone:
29 MARGARGET STREET — General inquiries: 133 254
IPSWICH QLD 4010 — 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 overall decrease 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
PAYMENT INFORMATION ATTACHMENT
The Department calculates T-PENSION-SP-ISS-AP 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 OCTOBER 2002 VeteranPartner
TOTAL FORTNIGHTLY PAYMENTxxx.xx — xxx.xx
This is made up of:
- xxxxxxxxx xxxxxxxxxxxx — xxx.xx — xxx.xx
- xxxxxxxxxxx xxxxxxxxxxxx x.xx x.xx
17 OCTOBER 2002VeteranPartner
TOTAL FORTNIGHTLY PAYMENTxxx.xx — xxx.xx
This is made up of:
- xxxxxxxxx xxxxxxxxxxxx — xxx.xx — xxx.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 |
T-PAYDIVER-DATE |
T-PAYDIV-PAYEE |
T-PAYDIV-PAYDEST |
T-PAYDIV-AMOUNT |
MANAGED INVESTMENTS AND SHARES INFORMATION
(Information current as at T-ADVICE-PRINT-DATE)
You are receiving T-PENSION-SP-ISS-AP at less than the maximum rate payable.
You are currently paid under the T-INCOME-ASSET-TEST test. The total of your fortnightly income is T-TOTAL-FORT-INCOME. The total of all your assets (excluding any deductible assets) is T-TOTAL-ASSETS.
Information about your T-SHARES-AND-OR-MIS is provided below.
Your T-SHARES-AND-OR-MIS 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. However, they continue to be used in assessing the amount of T-PENSION-SP-ISS-AP 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 September mailout. There is a separate GIS for both income support supplement and age pensioner recipients. PLEASE NOTE: Rates and thresholds have been updated to reflect changes. 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 SMITH — GPO Box 651 Brisbane Qld 4001
30 MARGARET STREET — Telephone:
IPSWICH QLD 4010 — General 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 SMITH — GPO Box 651 Brisbane Qld 4001
33 MARGARET STREET — Telephone:
IPSWICH QLD 4010 — General 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 September mailout. There is a separate GIS for both service pensioner and age pensioner recipients. PLEASE NOTE: Rates and thresholds have been updated to reflect changes. 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 SMITH — GPO Box 651 Brisbane Qld 4001
17 MARGARET STREET — Telephone:
IPSWICH QLD 4010 — General 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
Source URL: https://clik.dva.gov.au/compensation-and-support-reference-library/departmental-instructions/2002/c422002-september-2002-global-refresh-managed-investments-mi-and-shares-sh-mailout