Eligibility for the Pension Bonus Scheme
The scheme is voluntary and allows you to keep on working and accrue periods of work that count toward a lump-sum bonus when you stop working and claim Age Pension.
To join the Pension Bonus Scheme, you must have qualified for the Age Pension before 20 September 2009. Men must have been born before 20 September 1944 to qualify. Women must have been born before 1 January 1946.
Pension Bonus can only be paid to people who are registered in the scheme and have not received an income support payment (excluding Carer Payment) since qualifying for Age Pension. Income support payments include Age Pension, Disability Support Pension, Special Benefit, Austudy, Bereavement Allowance, Widow Allowance, and 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.