How Do I Update My Client's Pension Payments?

You can amend your clients pension payment via the platform by following the below steps:

1. Search your client’s pension account.

2. Go to Superannuation > Super cash > Pension information and then click “Edit” next to “Pension information”.

ZD_update_pension_payment_1.png3. On the pop-up screen to update the account’s pension details, you can choose to receive either a specific annual amount or the minimum pension for the financial year. If you are nominating a specific amount you can enter either the specific dollar amount or a percentage. Please note this is the total pension to be received by the client for the full financial year and it includes payments already made during the current financial year.

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4. You can then select the frequency for the payments, and the next payment date. If the next payment date is the current month, your changes must be submitted 5 business days before the 15th of the month.

5. Clicking on “Calculate” will display the amount of pension expected to be paid at the next payment date.

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6. Click on “Submit changes” to confirm changes.

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7. The details displayed on the “Pension information” page will now reflect the changes you have just made.

 

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Have any questions for us?

If you cannot find the answer you are looking for, you can submit a request and we will be in touch as soon as possible. Alternatively you can contact us on 1300 988 878, or email us at wealth@masonstevens.com.au