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Working in retirement - a guide

Retirement  |  12/01/2017  |   3 min read

Retirement is changing. People are living longer, they’re remaining active, and they’re looking at ways to maintain their lifestyle. Increasingly, that means taking up some part time work.

But when it comes to retirement and continued employment there are specific laws in place. These relate to the amount of hours you can work, your earnings, and any age pension benefits you may receive. Understanding these regulations can help ensure your earnings stay in your pocket. 

Getting back into the workforce

If you have reached your preservation age (but are under 65), and are planning on retiring, you will need to sign a declaration saying you intend to leave the workforce before you can access your super.

However, if your personal or financial situation changes, you can return to work at a later date. 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.

If you are over 65, you can access your super benefits without retiring from the workforce.
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 $164 per fortnight before your Age Pension is reduced. It will drop by 50 cents for every $1 you earn over $164. Couples who are both eligible for the age pension can earn $292 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 www.olderworkers.com.au and www.yourlifechoices.com.au

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


This article is provided for general information only. It does not take into account your personal objectives, financial situation or needs and should therefore not be taken as personal advice. You should consider whether it is appropriate for you before acting on it and, if necessary, you should seek professional financial advice. Before making a decision to invest in the Equipsuper Superannuation Fund, you should read the appropriate Equip Product Disclosure Statement (PDS). 

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