Working on the aged pension?

BW · Senior Member

Working on the aged pension?

Dougwe · Chief one feather

W..k!

Struth, I nearly had a heart attack but stopped myself saying that word just in time.

I am pretty sure you can earn so much a year on top of your pension. Best to ask Centrelink, they know for sure.

elliemike · Guru

BW wrote:
Do any of you work now and then on the aged pension ? how much trouble is it ? and are you likely to be left short, especially using MyGov website.

I worked for about six years after retiring.

Work for a few months, then travel , then back to the work when I got home. It worked out ok for me as I was earning good wages and no real responsibility (after being in Management) I enjoyed being back on the spanners.

But I remember the Centrelink reporting was a bloody pain. Especially when they got something wrong and the whole system became our problem to follow up on.

We also still had investments, as well as some overseas Pensions UK/NZ and British Merchant Navy. I suppose those also complicated matters.

Keep a good record of your earnings and the dates. Employer, etc.

But hey you just work through it and the paperwork, fight with the Computer, and eventually it gets sorted.

I hardly ever went to the Labour Exchange, Centrelink in all my working life. Perhaps four or maybe five times from fifteen to Sixty years of age. I think it was Five times a year when I retired.

Hetho · Senior Member

Yep; have to agree with Dougwe. That 4 letter word.

I think you will find that we all have a different $ value, called a "work Bonus" which is calculated on you Pension $`s

My Work Bonus is $7800.00; so I can earn up to this figure before my pension $/ft reduce.

However, what ever you do earn must be reported; so you will need to ask Centrelink to be put on Fortnighly reporting (I find it is easier to do this stuff on the phone, its worth the wait) which requires you to complete the report; in Centrelink on your designated reporting days. You will be sent a letter to advise you of your days; and can only report on those days, which is prior to your next payment.

Once you com complete the report and submit you will be advised of your next payment amount.

Hope this helps.

Regards.

Hetho.

yobarr · Guru

BW wrote:
Do any of you work now and then on the aged pension ? how much trouble is it ? and are you likely to be left short, especially using MyGov website.

A simplified answer to your question is "$7800"/year,or $150/week average.However,as with any Govt Dept,there are many provisos.Cheers

BW · Senior Member

It's not the amount I am worried about, its the going on and off , I know it took two mths just to get on the pension.And the rig ma roll, might not be worth it.

PetenSue · Veteran Member

yobarr wrote:

BW wrote:
Do any of you work now and then on the aged pension ? how much trouble is it ? and are you likely to be left short, especially using MyGov website.
A simplified answer to your question is "$7800"/year,or $150/week average.However,as with any Govt Dept,there are many provisos.Cheers

Gees I reckon I could handle that. Go on the pension and work 2 3/4 hours a week !!! haha just dreamin, Ive got a few years to go yet. Regards Pete

Whenarewethere · Guru

Have you spoken to your accountant.

travellinglew · Member

only one place where you can get anything like an accurate answer to this question and that is at Centrelink. Everything else is just an opinion. They have a good financial advice service that you can request. These staff are trained to supply accurate financial information regarding your individual circumstances. Many people refuse to use it as they think it will supply to much info to centrelink but the truth is they have it all anyway.

BW · Senior Member

Thanks.

elliemike · Guru

travellinglew wrote:
only one place where you can get anything like an accurate answer to this question and that is at Centrelink. Everything else is just an opinion. They have a good financial advice service that you can request. These staff are trained to supply accurate financial information regarding your individual circumstances. Many people refuse to use it as they think it will supply to much info to centrelink but the truth is they have it all anyway.

Totally agree with you. Before we retired, we had a lot of advice from them and always found the staff very helpful.

And yes they do have heaps of information about you, Just like tha Australian Taxation Office.

But the system can be frustrating, especially the website.

Greg 1 · Guru

Would also recommend seeing a Financial Services Officer. You have to book an appointment and they are not at every Centrelink office so you need to ask where the nearest is to you. We found they were very good and gave advice on how to maximize the benefits we could receive from Centrelink given our particular circumstances. The service is free and well worth taking the time to use it. You need to take a complete list of your assets and liabilities with you.

Tony LEE · Guru

"only one place where you can get anything like an accurate answer to this question and that is at Centrelink." Four times I was forced into certain actions on the advice of Centre link staff and four times I appealed against the consequences and four times I got ever cent back. Best day of my retired life was losing my pitiful pension when they lowered the assets test limits and no longer had to jump through their hoops. Still have similar problems with the carers payment, but I win those appeals too. Facts are that the legislation (same with taxation) is so complex that even staff dedicated to specific areas don't get it right, so how can the generalists working in their shop fronts.

BW · Senior Member

As I thought , to hard.

normiek · Member

I worked 6 weeks,break for 2,do same again report by computer each fortnight to Centrelink, no problem.

Aus-Kiwi · Guru

Aha I think I wo rk twice as hard since retiring!!! The pay isnt twice as much though ., Employed is not a four letter word !! Lol

BW · Senior Member

Thanks Norman , that's what I wanted to hear!

Jaahn · Guru

BW wrote:
It's not the amount I am worried about, its the going on and off , I know it took two mths just to get on the pension.And the rig ma roll, might not be worth it.

Hi BW smile

I will just say like some others have said, book an appointment with a financial advisor at Centerlink. They will give free general and specific advice and how it affects your pension. They also give the limits and the reporting needed etc. Better than listening here to information that may or may not suit your circumstances. I went back to work casually aww on and off after I got on the pension. It was OK and I had no problems. Some time back now.

Another information that we found worthwhile are seminars put on by Centerlink for the very purpose of telling people about any of the limits and rules. We have been to a few of them over the years on various aspects. If you go to the Centerlink web site it will list what is available and where they are on. You have to book but no charge and a cuppa provided usually. After you can speak to the person and make an appointment to speak personally to them.

Is it worth it. Yes if you know the rules and stay inside them you get some more funds to spend. You will not loose the pension unless you go above the rules or are stupid. IMHO

Jaahn

PS Tony may have had a bad run but we have not. There are no shop fronts with general advice from anyone now. You make an appointment to speak about something. Not perfect service but where do you get that from anyway ? disbelief

-- Edited by Jaahn on Tuesday 22nd of October 2019 01:24:07 PM

BW · Senior Member

Good advice , thanks John/

BW · Senior Member

I see the 7.30 report is looking to interview Grey Nomads who are supplementing their income by working, they want you to contact the reporter directly at Nadia.Daly@abc.net.au

Whenarewethere · Guru

Remember all your assets, furniture, white goods, clothes, kitchenware etc. Have the value of what you get at a garage sale, not insured value.

The Pilb · Newbie

Been doing Harvest work since I retired 9yrs ago. An occasional hiccup, but if you are upfront with all reporting, and read the requirements, really no problem. And if there is, easily rectified, albeit a tad slowly on their behalf. But always, whatever your entitlements,you'll get.

The Pilb · Newbie

Oh and you will have to reapply for the aged pension IF in a 12week period you don't get $1 or more from the Govt for your aged pension because you are earning too much. But when you do reapply you will get what's due from the date you reapplied. Even tho it might be 2 months later. You'll always get what you're entitled too.