industry & reform
The Employment White Paper was released on Monday by Treasurer Jim Chalmers ( left ) alongside Social Services Minister Amanda Rishworth ( right ). Picture : NCA NewsWIRE / Emma Brasie
Age not a barrier
Government White Paper reveals pension changes to allow more people to work
By Arshmah Jamal
Older Australians wanting to work can earn up to $ 11,800 before their pension is affected as stated in the new employment white paper released in September .
The 252-page paper outlined 190 new policies with 70 already being implemented and 80 underway ; 31 with long-term reform directions and nine with immediate actions .
Treasurer Jim Chalmers said these policies are designed to future-proof Australia ’ s workforce and address the economy ’ s crippling labour shortages .
“ This employment white paper , which is called Working Future , is all about helping more Australians make the most of the big changes underway in our economy and our society as well ,” the Treasurer said .
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“ Our objective here is a more dynamic and a more inclusive labour market as part of a more dynamic and inclusive economy where more workers and businesses and communities can adapt and thrive and benefit from change .
“ The white paper is part analysis , but mostly about action .”
Speaking in Adelaide , Mr Chalmers was joined by the Minister of Families and Social Services , Amanda Rishworth , who introduced two measures that were announced at the conference that looked at the “ structural barriers in our social security system ”.
The first measure is extended from last year ’ s Jobs and Skills Summit , allowing older Australians a working opportunity and extra income .
“ We are announcing today we will make permanent the measures that will allow for a higher balance in a pensioner ’ s income bank of $ 11,800 , that they will be able to earn through seasonal or ad hoc work before their pension is affected ,” Ms Rishworth announced .
“ Of course , many pensioners want to retire when they reach pension age , but some would like to do seasonal work or a shift here and there .
“ This is about smoothing that pathway from work into retirement and ensuring that pensioners can still do some work and still receive their full pension .”
The paper also said the previous temporary $ 4,000 upfront payment would be made permanent and given to older Australians who continued to work .
Seniors and veterans will continue to be able to work more and earn thousands of dollars more before their pension payments are reduced to boost workforce participation .
This means the current maximum Work Bonus balance will be $ 11,800 rather than the previous $ 7,800 .
Under the Treasurer ’ s initiative to increase workforce participation ,