6 7 YEAR WARRANTY Save money, time & hassle with our simple tile injection method Ripping up and re-laying tiles is messy, invasive & expensive Ready to walk on in 3-4 hours DO YOU HAVE LOOSE, TENTED OR CRACKED TILES? We Can Fix That! CALL US FOR MORE INFO & A FREE QUOTE 0407 898 795 It’s a happy new year for older Australians who want to work and not lose their pension. Here’s why. National Seniors Australia has been a long-time champion for reforms to allow pensioners to earn more income without losing their payment. That’s why this new year we’re celebrating the fact that new working pensioners are up to $2,000 better off because of National Seniors’ efforts to reform pension working rules. of the $300 fortnightly Work Bonus accrued in a Work Bonus income bank. The $4,000 is a one off addition to the Work Bonus for new pensioners and is on top of the $7,800 you can earn without impacting your pension. The additional $4,000 is applied at the start of the year to the Work Bonus income bank of new pensioners. Disappointedly, if you already received the $4,000 Work Bonus in 2023 you will not receive this again up front. However, your Work Bonus can accrue to a maximum of $11,800 because it carries forward over years. It does mean that those becoming eligible for the pension can work a little bit more without losing their pension but those with ongoing work will not unless they have periods out of the workforce and accrue beyond the old $7,800 limit. The decision to make the temporary increase in the Work Bonus permanent from 1 January 2024 means a new pensioner can earn $453 per fortnight (on average) in the first year of receiving their pension and not affect their pension. That might mean you can work an extra shift. It’s important to also note that the Work Bonus operates in addition to the pension income free area, which is currently $204 a fortnight for single pensioners and $360 a fortnight for couples combined. If you don’t have any investment income or savings, this would mean a new pensioner could earn even more each fortnight without losing your pension (all told, up to a total of $657 per fortnight for a single pensioner). For more information about the Work Bonus, Services Australia can be contacted by visiting a Centrelink office in person, by phoning 13 23 00 or at Services Australia. Work Bonus win means more income! On 1 January, all new pensioners will have $4,000 added to their Work Bonus balance. It’s a victory for older Australians and for National Seniors in our ongoing campaign to remove barriers to Australians who want to work in later life. How the new system operates is complicated, but the good news is you do not need to apply separately for any part of the Work Bonus. As with other Age Pension obligations, you just need to declare your income. How it works Here are some examples of the application of the Work Bonus. Under existing rules, the first $300 of fortnightly income from work is not counted under the pension income test, with any unused part source: nationalseniors.com.au
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