Topping up the pension funds
The scheme allows age pension recipients to earn an average of up to $250 a fortnight ($6,500pa), without it affecting their pension entitlements.
Coffs Harbour
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MORE older Australians are taking advantage of the Pension Work Bonus scheme to top up their retirement incomes through paid employment.
The scheme allows age pension recipients to earn an average of up to $250 a fortnight ($6,500pa), without it affecting their pension entitlements.
That threshold will increase on July 1 to $300 a fortnight, or a maximum of $7,800pa, thanks to a recent decision by the Coalition Government.
Minister for Human Services and Digital Transformation Michael Keenan said about 150,000 pensioners had used the scheme in the past 12 months, representing about 6 per cent of all Age Pension recipients.
"The scheme gives older Australians who want to continue working a chance to earn a bit of extra spending money whenever it suits them, without having to worry about their pension entitlements being affected," Mr Keenan said.
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