CHANGES TO PENSION BONUS SCHEME
Noel Whittaker tells us that the government will make pension changes on September 20,
The taper rate will go from 40c to 50c in the dollar to encourage part-time work for over 65s and the Pension Bonus Scheme, where you may have kept working until 70 and then received the entire pension missed as a bulk package, is to be axed.
The new scheme is called Work Bonus and you can work part-time and receive the pension with 50% of your income up to $500 not counted as income when accessing your pension.
You have until 20 September to access both if you want to sign up for the old scheme as well. See your nearest Centrelink Retirement centre for more information or the Centrelink web site.
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