<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>New research has found that tens of thousands of retirees are missing out on the aged pension because they are confused about the rules.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Superannuation giant Cbus, which manages more than $110 billion of retirement savings for its 925,000 members, has found that nine in 10 members nearing retirement lack confidence in understanding their entitlements.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Research from MUFG also found that only 44 per cent of members applied for a pension as soon as they were eligible. </span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/australia-youngest-premature-baby-stevie-oreilly-thriving-after-being-born-45-months-early/269256b3-614a-4597-9e3e-ef3a2484f856" target="_blank"><strong><span>'It's just crazy': Youngest-ever Aussie baby to survive premature birth</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Twenty-four per cent waited within a year, while 32 per cent waited more than a year before applying. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"One in three Cbus members, together with their partners, could be missing out on up to $46,000 per year through late Age Pension applications," said Cbus Super Acting Chief Members Officer Bernie Dean.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"But low confidence and complexity means many are leaving money on the table."</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/retirees-missing-out-on-pensions/6452cf53-b707-4c2c-87f0-8255f8934616" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"A couple missing out on around about $900 a week in pension entitlements each week that you delay applying for it."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"That is punching a huge hole in somebody's retirement lifestyle."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Those delays are costing retirees, such as former pest controller Joseph Bagnatto, who thought it would be a straightforward process before it ended up taking seven weeks.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Very frustrating and too hard if you don't know what you are doing," he said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"They send on email or app all this paperwork, I still don't know how much I can earn on a pension."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/world/donald-trump-calls-reporter-piggy-after-jeffrey-epstein-question/d53a7a53-c344-4560-bfff-01de835f38cf" target="_blank"><strong><span>Trump hurls outrageous slur at female reporter</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Some also find income and assets confusing.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Singles can earn up to $2575 a fortnight and have up to $714,500 in assets, not including the family home, and still qualify for a part pension.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>For couples, it's $3934 a fortnight and $1,074,000 of assets.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"A lot of people think that they've got to go it alone just on their super savings, and they don't actually know that they would be eligible for the pension," Bernie Dean said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/world/jeffrey-epstein-files-us-house-vote-to-force-justice-department-to-release-files/d1850ba7-dabc-4253-88e9-1a53f0ead44d" target="_blank"><strong><span>Huge vote on Epstein files after Trump backflip</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Future retirees can apply 13 weeks before turning 67.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>It currently takes 32 days to process the average application. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The easiest way to get started is to consult a Financial Information Service Officer from Services Australia (132 300).</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The bottom line is simple: get organised early so you don't leave money on the table. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><a href="https://www.9news.com.au/national/how-to-follow-9news-digital/29855bb1-ad3d-4c38-bc25-3cb52af1216f"><em><strong><span>DOWNLOAD THE 9NEWS APP</span></strong></em></a><em><strong><span>: Stay across all the latest in breaking news, sport, politics and the weather via our news app and get 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