Federal Member for Durack, The Hon Melissa Price MP, has welcomed the announcement yesterday of a $4000 boost for aged and veteran pensioners. This boost will enable eligible pensioners to work more hours without having their pension affected.
The concept of the Pension Work Bonus Policy was introduced by the Coalition at this year’s Jobs and Skills Summit, a practical policy that Labor has now subsequently adopted.
The boost will see the income cap lifted from $7800 to $11,800 for eligible age and veteran pensioners, enabling them to earn an extra $300 per fortnight before their pension is reduced. The increase in the Work Bonus income bank will be in place from now until December 31, 2023.
“It is important to allow our pensioners to earn a little extra money with a reasonable and common sense solution. This policy will give pensioners a one-off income credit over the next year” Melissa Price said.
“These changes will help pensioners who want to find some extra work, while also helping businesses who need to hire dependable and skilled staff. The ability to earn an extra $300 per fortnight means some members of our community will be able to work more hours, which is important as work can often give people a sense of belonging and purpose. We all like to feel like we make a difference” Ms Price said.
“I am aware that many pensioners are struggling with the cost-of-living crisis at the moment and allowing age and veteran pensioners to work and earn an extra $4000 this financial year I believe will certainly help.” Ms Price said.
For more information on the changes to the Pension Work Bonus Policy please visit https://www.servicesaustralia.gov.au/work-bonus
Ends.
Media Contact:
Jackie Perry 0427 587 395, jackie.perry@aph.gov.au