This measure will ensure that an individual's Australian pension is adjusted automatically when their overseas pension increases - initially pensions from Italy followed by Germany, Malta, The Netherlands, Ireland and Spain.
A media education campaign will encourage all Age Pension recipients with overseas income to voluntarily notify Centrelink of changes in their income.
This measure will build upon the data-matching pilot with The Netherlands announced in the 2002-03 Budget and will help prevent debt occurring for those pensioners who also receive a pension from overseas. The education campaign will also complement the Keeping the System Fair education campaign announced in the 2004-05 Budget.
1 July 2005.
Total Financial Impact
Net savings of $62.1 million over four years.