Let Older Aussies Keep More Of What They Earn

A private Senator’s Bill has been put to Parliament to allow aged pensioners and veteran service pensioners to keep more of what they earn from employment.

At the moment, these pensioners can earn up to $300 of income fortnightly without impacting their government payments.

The proposed Bill, The Social Services Legislation Amendment (Enhancing Pensioner and Veteran Workforce Participation) Bill 2022 allows aged pensioners to earn up to $600 per fortnight and still receive the maximum pension payment.

Liberal Senator for Western Sydney, Senator the Hon Marise Payne, said the sensible reform would help ease the cost-of-living crisis.

“Older Australians have a great depth of skill across a variety of sectors, and they should not be penalised for wanting to work more, particularly in this difficult economic environment,” Senator Payne said.

“We know that we’re in a very tight labour market with many small businesses hurting because they are unable to find staff.

“Our proposal means more Australians wll be able to keep more of what they earn while also helping Western Sydney businesses keep on track.”

While the proposed Bill from Opposition Leader, the Hon Peter Dutton, may not be considered until after the upcoming Jobs and Skills Summit.

Senator Payne said local businesses shouldn’t have to wait for action to be taken to address serious labour shortages.

The cost to the Budget for the proposed change is $145 million in 2022-23.

• Topics:

• Seniors
• Employment & Training