This boost, announced in last October’s Federal Budget, will see the income cap lifted from $7,800 to $11,800 for eligible pensioners before their pension is reduced.
The Work Bonus currently entitles those working yet receiving the full pension to earn an extra $300 per fortnight without impacting pension entitlements.
The changes that come into effect from Thursday will see pensioners automatically receive an additional $4,000 as a one-off payment to Work Bonus income bank balances.
The $4,000 boost will be available until 31 December 2023, after initially being flagged to remain in place only until the end of this current financial year.
Key points:
- Eligible pensioners will receive a one-off $4,000 boost to Work Bonus balances from 1 December, 2022.
- The $4,000 bonus will lift the income cap lift from $7,800 to $11,800 for eligible pensioners.
- Pensioners do not need to apply for the Work Bonus, instead ensure income information is accurately reported through Centrelink.
For more information visit the Department of Social Services Work Bonus information page.
