Age Pension Question

I am getting conflicting answers...
How much can my partner earn before it affects my age pension of $718.10?

Is it 1124.00 gross fortnight ???

 

7 comments

Bletch,      If you are a pensioner couple I have read that if your income per fortnight is up to $320 per fortnight your pension will not reduce.

If you earn over $320 per fortnight your pension will be reduced by 50 cents for each dollar you earn over $320

I hope that has helped

I receive an age pension. My husband is younger and as yet not pension age. We can earn $309 per fortnight from investments but any other money he earns causes my pension to be reduced by 25c for every dollar he earns. The irony is I can earn $7800 each year without it having any effect at all. So to sum up your partner can't earn anything without reducing your pension.

That seems mighty unfair Lolli,

Yes, dead right, I am on a part pension and my Wife works part time, every dollar she earns reduces my Pension..to cap that, if she gets an occasional Commission, that money reduces my fortnightly payment immediately, for that period..it used to be spread over 12 months but not anymore..consequently I can end up some periods having no pension at all! ...What a joke!

It is a joke and a disgusting one when we see these deadbeat politicians getting a decent rise every year and can leave and get THEIR pension AND ALSO hold another well-paid job -- they are scum!

I would like to tell you of a wonderful politician, Ted Mack who was the 39th .Mayor of Nth. Sydney Council from 1980-1988. When he retired in 1988 he did so just 2 days short of serving 7 years in Parliament, which would have made him eligible  for a  Parliamentry Pension entitlements in excess of $1 million dollars. He had always taken a dim view of what he perceived as the excesses of public office and retired in protest. In 2016 he received treatment for brain cancer and died of a massive stroke in 2018.  Now there was a man who hated the way public money was wasted. I bet you there has never been another  politician  like him. These so called men running government today wouldn't take a pay cut in these hard times we are all having to face.  

HOLA I remember him well-- what a beaut bloke -- and a darn honest one too

Blatch a couple can earn $320 a fortnight before it reduces each pension by 0.25 for every dollar above $320 - Pensions wont cut out totally until combined income reaches $3297.60 per fortnight .

yes you can earn $3297.60 pf and still keep your pension  benefits and concessions - Important to note receiving the max rate of Age Pension is not the be all and end all - Id rather receive $3200pf and keep my pension concessions than say No to employment and receive $1489 pf combined - No brainer

But Wait there's more the first $300 of earned income( ie: from wages/salary) each fortnight is totally disregarded so in effect you can have $620 of income from employment before your pension is reduced . This applies as long as the income earner is age pension age and in receipt of Age Pension. This is called the work bonus .

The Work Bonus is great because it snowballs ie if you dont use it it grows by $300pf up to max of 7800 ie 26fns x $300 - so if you are say a seasonal worker - HSC marking , elections etc there is a very good chance that employment money will not affect your age pension

Hi all, I was reading the article about two pensioners people moving to live together and this answer given I think is wrong " For a homeowner couple to receive full Age Pensions, they must have no more than a maximum of $621,500 in assets combined and no more than $901,500 to receive part-Age Pensions. Your Age Pension is reduced by $3 for every $1000 you exceed the asset limit. 

The figure of assets combined should only be $405,000 not as mentioned here $621.500, that figure is for non-homeowners, please send a correction !!

Sounds correct Sophia good pick up

If you have assets of below $405K you could get max rate AP depending on your income - you will lose any entitlement to AP if your assets exceed $901500 if you are a home owner

7 comments



To make a comment, please register or login

Preview your comment