I have been offered a job lasting about 5 or 6 weeks, part time. I will receive about $800 in total for this work. I see that an old age pensioner, single, can earn $138.00 per fortnight. This makes it $3588.00 per year.
I have been offered a job lasting about 5 or 6 weeks, part time. I will receive about $800.00 in total for this work.
I see that an old age pensioner, single, can earn $138.00 per fortnight. This makes it $3588.00 per year.
Will my miserly $800.00 have any effect on my pension?
I desperately need some extra money, but not if I am going to loose some of my pension, as it just wouldn't be worth it, would it?
As I mentioned before this will be over about 3 fortnights, out of the whole year.
When you divide the $800.00 by 26 fortnights, it would come to about $31.00, per fortnight,
but it would actually be $800.00 divided by about 3 fortnights, which would be about $267.00, per fortnight.
Will you please offer a suggestion regarding my dilemma?
A. Answered by Hank Jongen, Centrelink General Manager
Age Pensioners have a range of choices if they decide to take on short-term or one-off employment opportunities in retirement.
Centrelink often receive calls from Age Pensioners who have been asked to play Santa Claus or work at their annual Show Day, who are worried about taking on the opportunity in case they lose their entitlement. It's very important Age Pensioners who earn income talk to Centrelink, but it doesn't mean they will be disadvantaged by working.
Generally speaking, a single pensioner can receive $138 a fortnight before their pension is affected at all, and a couple can receive $240 a fortnight. After this, the pension reduces by a set rate for every dollar of income above these amounts.
In some circumstances, an Age Pensioner's total employment income from a short-term job can be averaged over 12 months or else annualised just for the period of employment. Centrelink staff will discuss these options with you to work out which way is best.
If the period of employment is short but the income earnings are generous, a customer can decide to suspend their Age Pension altogether. It's possible to suspend a payment for up to three months, and then restore it when employment ends without having to restart the whole pension claim process.
As always, I encourage Centrelink customers to discuss their individual circumstances with Centrelink by calling 13 2300.