2.2.9 Retirement & Widows Verification

Introduction

The following table lists the verification required for the payments/benefits in the retirement and widows grouping. If more detail is required about specific verification, the second column indicates where you will find this. WP and WidB are NOT in the table, as there have been no new grants of WP since 1 July 1995 and no new grants of WidB since 20 March 1995.

Verifying real assets - PLS

Any property, including the recipient's principal home, which is offered as security for the PLS must be valued. This valuation is done before grant and reviewed annually. A valuation is also required for any other real estate owned by the recipient, if it has not been previously valued.

Valuations are normally done by the AVO at no cost to the recipient. If a recipient provides a private valuation, it can only be accepted if the valuer is professionally qualified and the valuation conforms with AVO standards.

Explanation: This means the valuation price:

• is based upon the highest and best use of the asset,
• is one that a willing buyer would agree upon with a willing but not anxious seller, and
• in the case of real estate or a business, is supported by evidence of recent comparable sales.

Verifying legal ownership of a farm - RAFS

To verify that legal ownership of a farm has been transferred, a copy of the certificate of title for the land must be provided.

Explanation: This confirms the farmer has transferred legal title to the farm land to eligible descendant(s) (1.1.E.60).

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Last reviewed: 11 August 2011