Financial Information Service (FIS) 101-05080000

FIS provides free, independent and confidential information, tools and resources to help people make informed decisions about their current and future financial needs. FIS provides services to people who need help and support to manage financial transitions and the financial impacts of significant life events.

FIS is available to everyone. A person does not need to be in receipt of a Services Australia payment to access FIS or to have an appointment with a FIS Officer.

FIS can assist people who are at risk of, or experiencing, financial vulnerability. This includes:

• Aboriginal or Torres Strait Islanders
• people from a culturally and linguistically diverse background (CALD), including migrants and refugees
• people living in a rural or remote area
• young people, including students starting work
• women returning to the workforce

FIS does not provide financial planning, financial advice or financial counselling.

FIS Officers:

• provide education and information about financial matters
• help people understand their financial affairs and options and make better plans for the future by saving and using credit sensibly, and
• help to build people’s confidence across a range of financial matters like redundancy payouts and superannuation

FIS Officers can help people to understand:

• financial concepts such as social security, tax, superannuation, budgeting, debt, investment and insurance
• financial options when starting or returning to work
• information and options regarding a lump sum payment such as redundancy, inheritance, early access to superannuation and compensation, including redress under the National Redress Scheme
• retirement planning including accommodation options and how different retirement income products work
• costs and financial options for aged care
• general financial literacy

FIS Officers:

• can provide people with information and referrals to other services or groups tailored to the person’s circumstances. For example, Social Workers, financial counsellors, providers of the No Interest Loans Scheme (NILS) or SaverPlus program
• are not financial planners, advisors or counsellors. They do not advise people about how to invest their money. They do not deal with other agencies or businesses on behalf of people. They do not schedule appointments for the sole purpose of updating customer income or asset information or processing of claims

FIS provides a range of information services via:

• FIS dedicated phone service
• video chat appointments
• face to face appointments
• free information and education webinars
• community outreach

A person does not need to meet any specific criteria to be referred to FIS. However, staff should ensure a FIS referral is the most suitable option for the person’s needs.

Reasons for a referral to FIS can include:

• information or assistance when starting or returning to work. For example:
• how does tax and income tax work
• information on wages and salary
• understanding superannuation and why it is important
• financial support for people who are financially vulnerable, or at risk of becoming so. For example:
• considering accessing early release of superannuation
• different types of loans and how to use credit well
• different types of financial investments, risks and returns
• financial support or information regarding income management or enhanced Income Management program
• about to receive, or have received, a lump sum. For example:
• compensation
• redundancy
• total permanent disability
• payment under the National Redress Scheme
• inheritance or property settlement
• planning to, or about to retire, and wanting to understand options such as:
• superannuation
• income streams
• annuities
• allocated pensions
• Home Equity Access Scheme
• Pension Bonus Scheme
• options for retirement accommodation, granny flats and downsizing
• general financial information following a significant life event. For example:
• newly separated, and wanting to understand financial matters that come with this change of circumstance
• becoming a parent, or a carer

A small team of specialist staff also provide a Remote Outreach FIS (ROF) service for customers in rural and remote communities. Remote Outreach FIS conduct interviews via Mobile Service Centres, Remote Service centres and in community. Staff also work closely with community providers in rural and remote communities and provide promotion and education via these partnerships. The location, timing and purpose of the ROF visits to these communities varies depending on local needs and current issues, as well as factors such as weather and other travel considerations.