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How much can you earn as a pensioner?

Retirement  |  18/04/2018  |   7 min read

Retirement isn’t what is used to be. People are living longer than ever, they’re remaining active, and they’re looking for more meaningful ways to spend their time. Part time work can help meet the economic and social needs of an aging population.

Before you start checking the want ads it’s important to understand the rules and regulations around working in retirement, and how this may impact your Age Pension.

Getting back into the workforce

If you’re under 65 and planning to retire you will need to sign a declaration saying you intend to leave the workforce (and cease employment) before you can access your super.

That being said, you are free to return to work if your situation changes. This became more common following the 2008 Global Financial Crisis, which saw savings drop, and new retirees returning to the job market in order to make up the shortfalls.

Your decision to seek employment doesn’t have to be as dramatic as that. As long as you declare any income you earn there’s no issue.

Part time work and the Age Pension

If you’re receiving the Government Age Pension, any employment income may reduce your benefits. Your eligibility for a Pensioner Concession Card may also be affected.

If you’re single you can earn $168 per fortnight before your Age Pension is reduced. It will drop by 50 cents for every $1 you earn over $168. Couples who are both eligible for the age pension can earn $300 a fortnight (combined) before they see any impact on their payments. It will also drop by 50 cents for every dollar of income over this limit.

The long term financial benefits

Aside from the social and active benefits of returning to work, it can also help your long term finances. Supplementing your super with a part time income means you’re drawing down less money, which means your savings can last longer and continue to be reinvested. You may even be able to add to your super.

At the end of the day everyone approaches retirement differently. The important thing is finding a lifestyle that works for you. You can learn more about the jobs available to older Australians by visiting specialist sites such as and

For personalised advice please speak to an Equip Financial Planner about how a part time income may impact your retirement, and your financial position. Click here for more info

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