Pensioner ‘bonus’ to encourage seniors to re-enter workforce

Older Australians will be able to earn nearly $12,000 this financial year without their pension being cut under plans to address labour market shortages.

The government will allow pensioners to earn an extra $4000 in the year to next June.

Older Australians will be able to earn nearly $12,000 this financial year without their pension being cut under plans to encourage more people into the workforce to address labour market shortages.

At the end of the Jobs and Skills Summit on Friday, Anthony Albanese revealed the government would allow pensioners to earn an extra $4000 in the year to next June amid a push for the removal of barriers to employment for more Australians.

“The measure is designed to enable pensioners who want to work to immediately boost the supply of labour to help meet shortages,” the Prime Minister said.

“Pensioners will be able to do so without losing their pension, either in short stints or over the course of a year.”

Mr Albanese said the government would also move to strengthen legislation to ensure pensioners who work weren’t unnecessarily kicked out of the social welfare system.

“The government will expedite legislation to ensure pensioners don’t have to reapply for payments for up to two years if their employment income exceeds the income limit,” he said.