Giving back to older Australians and our veterans
The Hon. David Littleproud MP
Member for Maranoa
Leader of The Nationals
Monday 27th June 2022
The Leader of the Nationals, David Littleproud wants older and Australians and our veterans to be able to earn more money without any penalty to their pensions.
Mr Littleproud said increasing the Age and Veteran Service Pension Work Bonus Scheme from $300 to $600 per fortnight would put more money in their pockets.
“The ALP could alleviate some of the worker shortages across the country by making this sensible change now,” Mr Littleproud said.
“The agriculture sector has had their hearts broken by the Labor Government’s decision to scrap the Agricultural Visa.
“If our grey nomads and veterans want to earn extra cash and help those in regional and rural Australia, we will welcome them with open arms.
“Hopefully, we can give the experience of a lifetime to those with a lifetime of experience.
“There are around 80,000 pensioners and veterans who choose to continue in the workforce and this is an incentive to work more if they want to.
Currently, age pensioners and veteran service pensioners can earn $300 of income each fortnight without impacting pension payments.
Under the proposed change, age pensioners will be able to earn up to $600 a fortnight and still receive the maximum pension payment.
Pensioners will continue to accrue unused pension work bonus amounts up to a maximum of $7,800, which can exempt future earnings from the pension income test.
A well targeted policy, designed to increase labour supply, will ease workplace shortages, and put downward pressure on inflation and interest rates.
“And we would be giving back to those who have given so much, our older Australians and veterans,” Mr Littleproud said.