Powers of Commission in Relation to Direct Credit Payments

Commission authority to make direct credit payments

The VEA gives Commission the authority to:

• 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 account

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.