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What is the work bonus scheme?

The Work Bonus is designed as an incentive for pensioners to participate in the workforce.

Under the Work Bonus scheme, the first $250 of fortnightly employment income will be disregarded from the income test for pensioners over age pension age. This is in addition to the standard income free area.
 
Pensioners will also be able to build up any unused amount of their $250 fortnightly bonus in an 'income bank' (to a maximum of $6,500). The income bank can be used to exempt future earnings from the pension test, so that a pensioner could earn up to $6,500 a year extra without it affecting their pension. This could be from regular work each fortnight or, for example, over a six week period before Christmas.




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Last Updated
15th of August, 2011

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