Pension Deferred May Affect Bonus

Which pension is being deferred may affect bonus

It is possible for a person to be registered for deferral of two pensions at the same time, eg age pension and service pension. However, only one pension bonus can be claimed. As different age criteria apply, service pension bonus periods accrued before age pension age cannot be used for age pension bonus purposes.

Example

Fred has deferred both service pension and age pension. If he claims age pension and bonus, periods accrued prior to Fred reaching age pension age cannot be included in the bonus calculation.