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For example, if you retire at full retirement age in 2015, your maximum benefit would be $2,663.However, if you retire at age 62 in 2015, your maximum benefit would be $2,025. If you retire at age 70 in 2015, your maximum benefit would be $3,501.or example, if you retire at full retirement age in 2015, your maximum benefit would be $2,663.
The Commission awarded all national system employees (excluding state government employees) a 3% increase on top of the minimum wage, effective from the first pay period commencing 1 July 2014. Currently the minimum wage for a full time employee aged 21 and over stands at $622.20 per week or $16.37 per hour. With the increase, the national minimum wage for a full time employee aged 21 and over will increase to $640.90 per week or $16.87 per hour. The increase applies to minimum entitlements only.