Helping seniors cope
By Joe Ludwig, Minister for Human Services; Manager of Government Business in the Senate
Date: 15 April 2008
Minister for Human Services, Senator Joe Ludwig, said the Government was
providing support to seniors in their time of need after losing their life
partner.
The first of the recently announced Pension Bonus Bereavement Payments have
been processed.
“The Rudd Labor Government understands the difficulties faced by older Australians,” Senator Ludwig said. “The emotional pain of losing a life partner is often made more complicated by the immediate financial difficulties of losing an income..”
“Passing on the Pension Bonus Scheme benefit, while not easing the loss, helps the surviving spouse in the transition to changing financial circumstances after the death of a loved one. Until this change any accrued benefit under the Pension Bonus Scheme was not paid to spouses.”
“The new payment commenced on January 1 this year and already the first eight payments have been processed; three for more than $23,000 each and five others, each between $1,300 and $17,000.”
The Pension Bonus Scheme allows people who reach pension age, but defer
claiming the Age Pension, to receive a tax-free lump-sum bonus payment when they
eventually claim and receive the pension.
The maximum benefit available under the Pension Bonus Scheme is $32,853.50
for a single person and $27,440 (each) for members of a couple. The amount of
bonus payable depends on how long people are members of the Scheme and the rate
of pension they are entitled to when they ultimately claim the Age
Pension.
Bonuses can accrue under the Pension Bonus Scheme for a maximum of five
years.
Senator Ludwig encouraged people who were approaching age pension age but
considering staying in the workforce to contact Centrelink to register for the
Pension Bonus Scheme by phoning 13 2300 or visiting their nearest Centrelink
office.
