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About five million Australians are set to receive a cash boost in less than a week when the indexing of Centrelink payments starts next week.
Centrelink payments are regularly indexed to maintain their value over time. Price increases are automatically linked to specific price indices.
From 20 March, people on the Age Pension, Disability Pension and Carer’s Allowance will receive an extra $19.60 fortnightly for singles and $29.40 for couples fortnightly, from 20 March.
The maximum pension rate will rise to $1,116.30 for singles and $1,682.80 for couples fortnightly.
About five million Australians are set to receive a cash boost in less than a week’s time when indexation of payments starts later this month
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Single JobSeeker recipients without children and people over the age of 22 on ABSTUDY will shell out an extra $13.50 per fortnight, bringing it to $771.50, including the energy surcharge.
The lone parent payment will also increase by $17.50 fortnightly, bringing the total fortnightly payments to just over $1,000.
A further 77,000 parents now get a higher rate of payment after eligibility was extended last year to cover those with a youngest child under 14, instead of eight.
Each member of a couple will receive an additional $12.30 per fourteen days.
Commonwealth Rent Assistance, which almost 1.4 million people claim, will rise by $3.40 to $188.20 per person. fourteen days for single income support recipients.
Social Services Minister Amanda Rishworth (pictured in 2022) said addressing inflation and the rising cost of living was her “number one priority”
Social Services Minister Amanda Rishworth said addressing inflation and the rising cost of living was her “number one priority”.
“Pensioners are some of the most vulnerable members of our society, many have worked their whole lives contributing to our society or caring for a loved one,” she said.
Ms Rishworth said the regular indexing is in addition to the Government’s boost to the working age and student payments announced in last year’s Budget.
“This increase, which came into effect on 20 September 2023, also included the biggest increase in the maximum rates of Commonwealth rental assistance for 30 years,” she said.