A Pension Bonus Top Up may apply if you were granted Age Pension and Pension Bonus on or after 1 January 2008. The top up is not a second bonus payment; it is the recalculation of the original bonus amount.
The amount of the top up payment is the difference between the initial amount of Pension Bonus paid and the amount of bonus that would have been paid using the highest pension rate in the 13 weeks after Age Pension was granted.
If there is no increase in the pension rate in the 13 week top up period after Age Pension was granted, no top up payment can be made.
You do not need to make a claim for a Pension Bonus Top Up payment.
We will automatically check to see whether you qualify for a top up payment after the top up period has ended. If you are entitled to a top up, we will let you know by letter.
The Pension Bonus is calculated using the initial basic Age Pension rate. A top up is:
- paid if the increase in pension rate is due to a reduction in your income or assets
- not paid if an increase in pension rate is due only to:
- indexation of pension rate
- indexation of allowable limits
- a change in homeowner status, or
- a change in marital status
Any subsequent decrease in pension rate does not disqualify you from receiving a top up payment.
If you have no increase in your pension rate in the 13 weeks after Age Pension being granted, there is no recalculation, and no top up is payable.