Eligibility for the Pension Bonus Scheme
The scheme is closed to new registrations. You can only claim the Pension Bonus if you registered in the scheme before 1 July 2014 and have not received an income support payment excluding Carer Payment since qualifying for Age Pension.
The scheme is voluntary and allows registered members to keep on working and accrue periods of work that count toward a lump sum bonus when they stop working and claim Age Pension.
Income support payments include:
- Age Pension
- Disability Support Pension
- Special Benefit
- Bereavement Allowance
- Widow Allowance
- Veterans’ Affairs service pensions
Only one bonus is ever payable. You must claim your Pension Bonus at the same time you claim Age Pension. If you cannot get Age Pension, you cannot get a bonus.
Depending on your circumstances you may be better off claiming Age Pension now, rather than deferring the claim to get a Pension Bonus. We recommend you make an appointment with one of our Financial Information Service officers to get free and independent information to help you make this decision.
Use our Payment Finder to explore other payments you may be eligible for based on your situation.