Pensioners able to earn $30 more each week


PENSIONERS can pocket an extra $30 a week under Labor's incentives to entice older Australians into the workforce due to start on July 1.   

Treasury modelling before next month's budget shows the improved ''work bonus'' measures - announced at the last election - will give a $1625 boost to some pensioners who choose to find part-time work or stay longer in the workforce. The more generous work bonuses, designed to engage more older Australians in the workforce, allow pensioners to work more hours without affecting their benefits.

The new Treasury cost-of-living analysis shows a single aged-pensioner with $6500 of wage earnings and $5000 of income from other sources such as investments, would have a disposable annual income of $30,240, an increase of roughly $30 a week. Australians on an age pension will be able to earn up to $10,400 - an increase on the income-free threshold of $2600 - in both investment and wage income and still receive the maximum pension rate. A pensioner who receives income solely through wages may earn up to $48,980 and receive a percentage of the pension.


Pensioners who draw extra income from non-wage sources will be able to draw nearly double the amount previously allowed without losing a cent from payments, with an increase to the tax-free threshold of $6500 a year.

Treasurer Wayne Swan says workforce participation will need to be boosted to cope with the demands of Australia's growing economy in the long term and identified the nation's large aged population as an untapped asset. ''Our economy really needs the experience of older Australians who want to stay connected to the workforce,'' he said.

Michael O'Neill, chief executive of National Seniors Australia said the government had improved opportunities for pensioners to work part-time. But, he said, mature Australians still faced many challenges in getting a job in the first place.

The small measure of benevolence towards pensioners is expected to be a rare example of positive tidings as the government prepares to deliver its ''tough budget''. The Gillard government has repeatedly warned there will be few new spending measures and a raft of harsh saving cuts when Mr Swan delivers his fourth budget on May 10.   

what is the point in working at retirement age?

who wants a boss telling you what to do when they are half your age.

uni degrees don't cut it.

too easy to get.

are we slaves - looks like it.

j.

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what would YOU know about work... idiot.

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lol.....don't you have a dodgy business plan?

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already got a job - soemthing you dont have and most disgracefully, have no intention of getting either.

Ex Dame Pansi wrote on Apr 17^th, 2011 at 4:52pm:


hi,
at one point, not THAT long ago, going to uni was special, and yes, some - worthwhile - degrees were very hard to attain. that's how it should be.

but, now, and i'm speaking from my own experience as a lecturer, only a very few students are really interested in developing themselves. the rest are there, because it's better than working in a dull job and/or are attempting to date someone.

it's also for family status.  a mother can boast that all her kids "went to uni".
i've seen plenty of this. these kids never get anywhere and generally end up in
the family business or the family way.

just passing exams doesn't make one good at a job/career.
it takes TALENT and CONNECTIONS.

ppl that really contribute to this world are a rare breed, and aren't always after the dollar. (it does help, tho.)


j.