You’re starting to think about your retirement but you’re not sure if you want a full-blown financial plan just yet. Perhaps you may not be able to afford a full financial plan, or you may be uncertain how to go about finding an adviser or unsure as to what qualities to look for in an adviser. You may even be unsure about what’s involved in planning for your retirement.
A handy first stop in your retirement planning journey is to attend a free seminar run by the Financial Information Service (FIS), or book a free one-hour appointment with one of the FIS officers. You can talk to FIS representatives over the telephone or face-to-face.
The Financial Information Service is available to anyone, and the Government funds the service under the Centrelink budget. Note that you don’t have to be in receipt of Centrelink payments or services to use FIS.
A few years ago I attended two FIS seminars as part of my research when road-testing public information services for inclusion in one of my books. FIS brings in experts from the financial services industry to take you through some of the issues you may face when investing generally or when planning for your retirement. FIS often hosts a series of seminars on related financial subjects. In the free seminars that I attended the content was easy to follow and included practical information.
According to the FIS information on the Centrelink website, FIS…
…educates and informs a wide range of people on financial and lifestyle issues… The information you get from FIS… can:
- increase your confidence in dealing with your investment related financial issues
- help you to understand your own financial affairs
- inform you of your options
- alert you to the levels of risk for each financial product type
- explain the roles of financial industry professionals
- help you to be discerning when choosing experts and how to use expert information
- explain the advantages of reducing personal debt
- help you to use credit in a sensible way
- encourage you to increase your savings and plan for the future
- help you to plan effectively for your retirement
- show you how you can maximise your overall retirement income.
What FIS cannot do
Although FIS officers can help point you in the right direction, FIS and FIS officers do not provide financial advice. According to FIS, FIS officers are not financial planners or counsellors and they:
- do not sell or provide financial advice
- do not draft financial plans
- do not recommend any particular type of investment
- do not tell you how to invest your savings
- do not purchase investment products on your behalf
- do not make decisions about your Age Pension
- do not calculate the rate of Age Pension at which you can be paid, although FIS Officers may be able to approximate what your payments may be).
What FIS can do for you
You can telephone 13 2300 and ask to speak to a FIS Officer. The FIS Officer may answer your questions over the telephone. If you have complex issues, the FIS Officer may arrange an appointment for you to chat face-to-face.
FIS Officers provide information to people over the telephone, at personal interviews or through financial education seminars.
Note: You can bring a family member or a friend along with you when you visit the FIS officer. You can also arrange for someone to speak on your behalf with the FIS Officer (subject to signing an authority allowing the FIS officer to speak to your representative). Interpreters are also available.
WARNING: Confidential conversations but big brother is still watching
The one blemish on the FIS service is that although any personal information you provide to FIS is treated as confidential, if you are already receiving Centrelink payments, FIS officers can pass on information to Centrelink, which can be used to adjust Centrelink entitlements if FIS officers consider your current entitlements are incorrect. Let’s hope that it works both ways and FIS officers pass on information where individuals are being underpaid on Centrelink benefits.
How do I book a seminar or appointment?
You can find out what seminars are available by clicking on this link or visiting
You can then book a seminar, or find out more information about the seminars by phoning 13 6357 (from 8 am to 5pm AEST), or by emailing: fis.seminar.bookings@centrelink.gov.au. FIS suggests that you include the title, date and location of the seminar that you want to attend when phoning or emailing FIS. You need to allow at least 2 days for your booking to be actioned.
