Eligibility
You may be eligible to be paid a Pension Bonus if you:
- are over Age Pension age, and
- qualify for Age Pension, and
- are registered in the Pension Bonus Scheme, and
- have not received Age Pension or any other income support payment (other than Carer Payment) since reaching Age Pension age, and
- can meet the Pension Bonus Scheme work test rules, and
- meet residency requirements for Age Pension.
Note: You may be better off claiming a part Age Pension rather than joining the Pension Bonus Scheme. It is recommended you make an appointment with a Centrelink Financial Information Service Officer to get free and independent information to assist you in making this decision.
Registration
To register in the Pension Bonus Scheme you must first qualify for Age Pension before 20 September 2009.
Work requirements
To meet the work requirements for the Pension Bonus Scheme, you need to complete at least 960 hours of gainful work each year. You must meet the work requirements for at least 1 year to be eligible for a Pension Bonus.
If you have a partner who is also a registered member of the Pension Bonus Scheme, only 1 person needs to pass the work requirements. If you both work, you cannot combine your work hours to meet the scheme's work requirements.
Gainful work
You are doing gainful work if:
- your work involves a substantial degree of personal effort or exertion, and
- you get a financial gain or reward.
Accruing periods of work
Only accruing periods of work count toward your Pension Bonus.
You cannot count non-accruing periods, for example, if you:
- give away substantial gifts of money before and during the time you participate in the scheme
- receive a compensation payment
- receive a Carer Payment from Centrelink.
Note: If you are relying on your partner's work to meet the work test, their non-accruing periods of work may affect your Pension Bonus.