Your Finances

Pension Bonus Scheme

The Pension Bonus Scheme provides a tax-free lump sum to people who defer claiming Age Pension and continue to work.

For a bonus to be payable, people have to register as members then meet a flexible work test for a minimum of 12 months from the registration date. For earliest possible registration, people should apply for membership within 13 weeks of meeting the age and residence requirements for Age Pension.

If a person does not work, but his or her partner does, the partner’s employment may earn a bonus.