Active Pete keeping his hand in with “income bank” increases

Better to wear out, than to rust out, Peter Baker believes.

Pete is one of the increasing number of pension-aged Australians who have returned to the workforce part-time for the social, health, and psychological benefits of keeping your hand in.

Recent one-off Federal Government changes to the income threshold are designed to make it easier for retirees to earn more money without it impacting their pension for this financial year.

The temporary “income bank” top up will increase the amount that pensioners can earn this financial year, before their pension is reduced.

The measure is also designed to enable pensioners who want to continue working, to immediately boost the supply of labour to help meet current staffing shortages in a range of industries.

For workers like Pete, who contract delivers Orange City Life magazines around the district, the one-off increase will have a direct benefit to his economic independence. 

Until the change comes into effect in December, even a few extra dollars earned would immediately see a proportional reduction in his fortnightly payments, Pete explained.

“Just delivering the paper, I’m fine, but I only had to do a few extra hours placing the (advertising) inserts in the magazine, and that comes straight off my pension when I report it,” he explained.

“Now, with this change, I won’t really have to worry about that for this year,” he said.

“I’ve got to keep working for my health problems, it keeps me alive,” he said, adding that he supports the one-off changes designed to increase our skilled workforce during critical staff shortages in a range of industries.

“I think it’s a good thing. The thing is, when you’re on a pension, a bit of extra money is great.

“But that little bit more, and it cuts into your pension, and you’ve got to pay tax on it,” he said.

Pete’s story is common enough in our market economy; one of those loyal, hard-working employers with decades of service for one company who, due to economies of scale, was thrown on the labour scrap heap at a time in his life when he was ill-adapted to cope.

“I was a fuel driver for Shell for 40 years but then, when the depot closed down in 2003–2004, I was out of work,” he explained. 

“I then got sick in 2006, sort of a mental problem… by 2009, with my health problems, I had to go on a full pension,” he explained.

Pete however, like many other formerly active people, found that filling your days snipping coupons and perusing the bargain aisles at the supermarket, didn’t provide the sense of purpose and wellbeing that work provides.

“I had to keep busy, for my wellbeing, I have to keep active, I can’t stop, it’s that simple. I gotta’ be doing stuff all the time.

“I deliver the papers, I grow a lot of my own vegetables, and I do a lot of other activities as well, I’m a mess if I don’t keep active,” he added.

An Aussie of the old-school, he also enjoys socialising and the game that for generations became associated with retirees wearing crisp whites on gentle greens.

“I’m also president of the Country Club, the bowling club, I’ve been a member out there since 1969,” he said.

He said that for the elderly, it's different strokes for different folks, wishing all the best to those who like to take it easy.

“We’re not all the same, there’s a lot of my mates, they’ll read a book each day.

“They’ll start in the morning, and they’ll read pretty much right through — every pensioner is different.”

He says that his years as a worker though, means he’s happier to remain in harness.

“I can’t read a book all day, I can’t. My garden and delivering the paper, I drove a truck for years and even now, I got to keep active.”Better to wear out, than to rust out, Peter Baker believes.

Pete is one of the increasing number of pension-aged Australians who have returned to the workforce part-time for the social, health, and psychological benefits of keeping your hand in.

Recent one-off Federal Government changes to the income threshold are designed to make it easier for retirees to earn more money without it impacting their pension for this financial year.

The temporary “income bank” top up will increase the amount that pensioners can earn this financial year, before their pension is reduced.

The measure is also designed to enable pensioners who want to continue working, to immediately boost the supply of labour to help meet current staffing shortages in a range of industries.

For workers like Pete, who contract delivers Orange City Life magazines around the district, the one-off increase will have a direct benefit to his economic independence. 

Until the change comes into effect in December, even a few extra dollars earned would immediately see a proportional reduction in his fortnightly payments, Pete explained.

“Just delivering the paper, I’m fine, but I only had to do a few extra hours placing the (advertising) inserts in the magazine, and that comes straight off my pension when I report it,” he explained.

“Now, with this change, I won’t really have to worry about that for this year,” he said.

“I’ve got to keep working for my health problems, it keeps me alive,” he said, adding that he supports the one-off changes designed to increase our skilled workforce during critical staff shortages in a range of industries.

“I think it’s a good thing. The thing is, when you’re on a pension, a bit of extra money is great.

“But that little bit more, and it cuts into your pension, and you’ve got to pay tax on it,” he said.

Pete’s story is common enough in our market economy; one of those loyal, hard-working employers with decades of service for one company who, due to economies of scale, was thrown on the labour scrap heap at a time in his life when he was ill-adapted to cope.

“I was a fuel driver for Shell for 40 years but then, when the depot closed down in 2003–2004, I was out of work,” he explained. 

“I then got sick in 2006, sort of a mental problem… by 2009, with my health problems, I had to go on a full pension,” he explained.

Pete however, like many other formerly active people, found that filling your days snipping coupons and perusing the bargain aisles at the supermarket, didn’t provide the sense of purpose and wellbeing that work provides.

“I had to keep busy, for my wellbeing, I have to keep active, I can’t stop, it’s that simple. I gotta’ be doing stuff all the time.

“I deliver the papers, I grow a lot of my own vegetables, and I do a lot of other activities as well, I’m a mess if I don’t keep active,” he added.

An Aussie of the old-school, he also enjoys socialising and the game that for generations became associated with retirees wearing crisp whites on gentle greens.

“I’m also president of the Country Club, the bowling club, I’ve been a member out there since 1969,” he said.

He said that for the elderly, it's different strokes for different folks, wishing all the best to those who like to take it easy.

“We’re not all the same, there’s a lot of my mates, they’ll read a book each day.

“They’ll start in the morning, and they’ll read pretty much right through — every pensioner is different.”

He says that his years as a worker though, means he’s happier to remain in harness.

“I can’t read a book all day, I can’t. My garden and delivering the paper, I drove a truck for years and even now, I got to keep active.”