Pension Bonus Scheme

Government policy changes can have profound effects on your retirement planning, and the repeal of the Pension Bonus Scheme represents a significant shift that could impact your financial future. Originally introduced by the former Labour government to encourage older Australians to remain in the workforce longer, this scheme’s elimination marks the end of an era—and highlights the importance of staying informed about policy changes that affect your pension entitlements.

The cut of date for applying is 28 Feb 2014.

The scheme pays a quite generous lump sum bonus to eligible workers who are people who qualified for the age pension but have kept on working even part time.  It was introduced as an incentive to keep people in the work place.

The scheme is not widely known and it is possible you know someone who may  be eligible.  It would be a shame if you do and that person was unaware of their entitlements.  They only have till 28 Feb 2014 to register.

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