Senior couple drinking tea

Good News for Pensioners

There are many disincentives that pensioners face when deciding whether or not to work part-time. Among them is losing part of their welfare payments for each additional hour worked.

But that impediment, at least, is about to be reduced.

Draft laws, which have passed the first hurdle of parliament, will soon allow pensioners to earn $300 a fortnight, without it impacting their welfare payments.

And rightly so, as some older Australians still struggle to make their ends meet. It’s an amendment that should have been pushed forward long ago.

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Pensioners to receive $300 extra per fortnight

According to the Australian Associated Press, this bill proposal, which cleared the lower house alongside two other measures — including letting more elderly Australians access the pension loan scheme and testing pooled-retirement income products — will have an overall cost of $258.6 million over the forward estimates.

And of course, not everyone will jump to work part-time, but the extra opportunity will help those who desperately need it — or perhaps, need the extra challenge of working when retired life becomes tedious.

Social Services Minister Paul Fletcher praised the bill on Wednesday, saying:

Overall, this bill gives retirees greater choice and flexibility when it comes to managing their finances in retirement.’

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The Australian Tribune Editorial

The Australian Tribune Editorial

The Australian Tribune is an unorthodox news service. Your Australian Tribune editorial team deliver the unfiltered stories that could impact your daily life — political and economic stories you’re unlikely to get anywhere else. And we’re not afraid to step on some toes to do it. We are honest, conservative and never dull. We are an independent service, meaning we don’t answer to shareholders or outside advertisers. This helps avoid conflicts of interest that inhibit mainstream sources, which keeps our voice independent. The Australian Tribune is owned and operated by Port Phillip Publishing.
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