Pension Payment Arrangements
On this page- How is my pension paid while I am outside Australia?
- What happens if I am away for more than 12 months?
- What exchange rate is used?
- Are there likely to be delays in receiving my payment?
How is my pension paid while I am outside Australia?
If you are not expected to be away for more than 12 months, pension payments will continue to be paid into your Australian bank account.
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What happens if I am away for more than 12 months?
If you are going to spend 12 months or more outside Australia and you are eligible to receive payment for that period, your payments can be sent outside Australia. In most cases payments will be made by direct deposit into a local currency account in the country in which you are staying. In some countries payment will be made by four-weekly cheque, either in local currency or in US Dollars.
Alternatively, your pension payments can continue to be made to your Australian bank account for some or all of your absence. In this case, you have the responsibility of making sure you can use the bank account during your absence.
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What exchange rate is used?
The latest Reserve Bank of Australia exchange rate is used to convert pension payments from Australian dollars to the appropriate currency. No deductions are made for bank charges or currency conversion.
If you are being paid by cheque, it is a good idea to check local banking arrangements for converting the pension cheques to local currency and find the bank which gives the best deal, taking into account the best exchange rates, the lowest bank charges and the fastest cheque clearance times.
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Are there likely to be delays in receiving my payment?
There could be an initial delay in setting up the international payment arrangements and for the changeover from fortnightly to four-weekly payments if you intend being outside Australia for more than 12 months. For those receiving cheque payments, you should take precautions by having funds on hand to allow for any delays. While cheques are mailed early so you should get them on the expected delivery days, Centrelink cannot quickly help if there are international mail delays or the cheque is lost in the mail.