Pension increase

Nearly 5 million Australians will receive a major increase to their pension and allowance payments when th...

People receiving the maximum rate who have one or two children will see a rise of $6.58 to $184.94 per fortnight, while those who have three or more children will receive an increase of $7.42 to $208.74 per fortnight. Single recipients of the maximum rate Commonwealth Rent Assistance without children can expect to see a $5.60 increase to $157.20 per fortnight. Single parents receiving the Parenting Payment will also benefit from an additional $33.90 a fortnight, with the rate increasing to $967.90 including the Pension Supplement, Pharmaceutical Allowance, and Energy Supplement. Single parents receiving the parenting payment will benefit from an extra $33.90 a fortnight. Each member of a couple receiving the payments will receive a $22.50 increase per fortnight. The maximum fortnightly rate of the pension will increase to $1064 for singles and $1604 for couples, including the pension and energy supplements.

More than 4.7 million pension and allowance recipients will receive a major boost to their welfare payments this month, driven by higher inflation.

General Information and Terms and Conditions may be found on each provider’s website. This is indicated in the tables by not showing an available product for the relevant term. Data may not be available for some products. [More details] Single parents receiving the Parenting Payment will benefit from a $33.90 rise in their fortnightly payments. The products that appear in the table above are initially sorted based on a variety of factors including the availability of a direct link to the providers website, and other commercial factors (see How we get paid).

National Seniors Australia has welcomed today's announcement of an increase to the age pension, but says the system needs to be adapted to ensure pensioners ...

In our budget submission we have called on the government to index the pension quarterly during times of high inflation and to let pensioners work. “We also want a two-year trial for pensioners who want to work and work more. We need a NZ-style system that eliminates Centrelink reporting and requires pensioners to pay an agreed rate of income tax.

More than 4.7 million Australians will receive a cash boost to their social security payments to help them cope with the soaring cost of living.

People over the age of 22 and without children who receive the Single Jobseeker payment or the ABSTUDY payment will receive a $27.40 per fortnight increase. Each member of a couple in receipt of Jobseeker or ABSTUDY payments will receive a cash boost of $45 per fortnight, which will bring each person’s total payment to $639.10. Those with three or more children can get a maximum of $208.74 per fortnight, an increase of $7.42. The second largest increase of $56.40 a fortnight will go to couples on the same three payments or the equivalent of $28.20 per person in the couple. A $37.50 per fortnight increase will go to singles receiving one of three payments including the Age Pension, the Disability Support Pension and the Carer Payment. Millions of Australians are about to receive a massive boost to their weekly income in response to intensifying cost of living pressures.