The Financial Information Desk (FID) is an independent, confidential service funded by National Seniors Australia that aims to improve the investment information available to older Australians.
Gathering knowledge to make an informed investment decision can be difficult. Relevant information is not always readily available, nor at a reasonable cost. Keeping up to date can be arduous as the investment industry is constantly changing and evolving. Changes not only occur to investment products but also to legislation, including Government Income Support (GIS), taxation laws and guidelines.
FID's role is to arm people with up-to-date independent information that will assist them in making those big decisions prior to and in retirement. The FID provides financial information only. It does not give or imply investment advice; recommend financial products or planners; or undertake advocacy or complex casework. Nor does it receive commissions, bonuses or third party payments.
Telephone Information Line
The FID operates a national ‘local call’ telephone information service which is available between 9am and 5pm AEDT, Monday to Friday. The service is available to National Seniors members needing information on investment products, to discuss their financial situation or to obtain details on where to find further assistance. The number to call is 1300 020 110 or email firstname.lastname@example.org
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Superannuation and Retirement Income Streams
Whether it is to simply understand superannuation itself or if wanting the finer details such contribution limits, taxation and government income support treatment, the FID has a range of leaflets and fact sheets specific to superannuation and income streams.
There are many types of investments available and the characteristics, features, benefits and potential pitfalls vary for each. The FID seeks to assist consumers in understanding product types when considering investments.
The FID has information that helps to explain the financial planning process, elements of risk, investing with safety, budgeting and estate planning issues.
Equity Release/Reverse Mortgages
The options for accessing the equity in your home have broadened in recent times. The FID has information available to consumers seeking help in understanding the range of equity release products, who the providers are and issues associated when accessing the equity in the home.
Financial Aspects of Residential Aged Care
Moving into residential aged care can be an emotional and stressful time. Understanding the costs involved can also be confusing. The FID's information officers can assist with understanding the costs, the process involved and possible options available.