February income stream reviews 110-02060010

The following income stream product types are reviewed in February:

• account-based income stream (AIS)
• allocated annuities (ALA)
• allocated pensions (ALP)
• market-linked income stream (MLI)

Income streams paid from Self-Managed Superannuation Funds (SMSF) and Small APRA Funds (SAF) are not reviewed in February.

This is an automated review using the Automation of income stream reviews (AISR) process.

All income stream product providers must supply information electronically to Services Australia for completing reviews for:

• Account-based income streams (including allocated pensions and allocated annuities)
• Market-linked income streams

Low Income Health Care Card (LIC) holders and their partners are included.

Commonwealth Seniors Health Card (CSHC) holders and their partners are included for account-based income streams only.

If a customer was unable to be matched with information from their income stream provider, the system will generate a customer review letter in April. See Income stream customer reviews – account-based and market-linked income streams.

Customers and/or their partners have 21 days from the date of issue of the letter to provide Centrelink with the details. The system will send a reminder letter after 28 days if there has been no response. If the customer or their partner does not respond to the reminder letter within 28 days, the system will suspend their payments. Their payment will cancel after 13 weeks from the suspension where there has been no reply or updates made.