Are Retirees Really Getting $4,000?
A news headline that will annoy many retired people in Australia.
But…
There are some things wrong with that headline.
Not all retirees will get anything, you must be receiving the Centrelink Aged Pension to qualify.
You must still be working, you cannot be fully retired.
You must be earning at least $11,800 per year to qualify to keep the full extra $4,000 that you have earned.
Under previous rules, you would have only kept $2,000 of that extra earning.
The real end result is that you keep $4,000, not just $2,000, so the benefit is really only $2,000.
An Aged pensioner, that is also receiving an earned income, can now earn an extra $4,000 without losing any of their Aged Pension to a Centrelink Income Test deduction..
More information at:Increase in Age Pensioners Income Credit