Retirement Essentials is excited to share that we have been has been selected by Feedspot’s panelists as one of the Top 10 Australian Retirement Blogs on the web
Our aim is to provide, useful educative content to inform retirees about all the news relevant for getting, and keeping the Age Pension for example see our piece on the work-bonus-incentive-program.
In addition our #AgePensionStories have been highlighting the journeys and experiences of real Australians as they seek to secure the Age pension and get the financial security they need.
Founded in 2017, Retirement Essentials offers everyday Australian retirees’ access to affordable financial advice. Our digital technology, combined with good old-fashioned personal support, puts us in a great position to help retirees manage their finances in a smarter more cost-effective way.
I am on Age Pension (couple) and self-employed, but my wife is not at the Pension Age yet. Can you please clarify whether I interpret the Work Bonus rules correctly:
1. If I have enough Work Bonus for my fortnight income, does it mean that $360 couples allowance is ‘lost’ for this fortnight period, i.e. does not accumulate to future periods ?
2. DSS web site stipulates that:
“For each dollar of income over the income free area, the single pension is reduced by 50 cents. For couples, their combined pensions are reduced by 50 cents. This means that for a pensioner couple, their individual pensions are reduced by 25 cents a fortnight for each dollar of income that the couple has over the income free area.”
I am the only pension recipient – does it mean that my pension (half of couple rate) will be reduced by 25 cents in each dollar if over the income free area, not 50 cents ?
Regards