150,000 older Australians have taken advantage of the Pension Work Bonus scheme in the past 12 months.
The scheme allows pensioners to earn an average of up to $250 a fortnight from paid employment, without it impacting their pension entitlements. That threshold is set to increase to $300 a fortnight on July 1st.
The new financial year will also bring pensioners the opportunity to register as ‘self-employed’ as part of the scheme, allowing them to earn a bit of extra cash without worrying about how it will affect their pension.