Increased Centrelink payments: Australians on JobSeeker, pensions and youth benefits will all get extra money
More than 5.5 million Australians on Centrelink and pensions are set to get a pay rise thanks to indexation and relief offered by the Albanian government.
The increase will be effective for beneficiaries on September 20.
The increase in indexation, which takes place twice a year in March and September, ensures that payments follow inflation.
Social Services Minister Amanda Rishworth explained how vital the boost was for struggling Australians.
“Indexation is a key mechanism for preserving the purchasing power of social security benefits, ensuring they keep up with the cost of living,” she said.
More than 5.5 million Australians on Centrelink and pensions are set to get a pay rise due to indexation and government assistance (stock image)
“Higher inflation is most acutely felt in the homes of those on low fixed incomes and these payments are a lifeline for many Australians who are facing hardship or may need additional support.”
The increase comes on top of a permanent base rate increase for Australians eligible for income support announced in the Federal Government’s May budget.
Over a million Australians will receive an additional $40 per fortnight. This includes 782,000 people receiving JobSeeker, 222,000 receiving Youth Allowance and 64,000 families receiving Couple Parenting Payment.
Single Australians on the JobSeeker and ABSTUDY payments will receive an additional $56.10 per fortnight, bringing their base payment to $749.20 per fortnight.
People in receipt of Old Age Pension, Disability Support Pension and Carer Payment will also see their base rate increase.
The single pension rate will increase to $1,096.70 per fortnight, an increase of $32.70. Couples will see their payments increase to $1,653.40 per fortnight, an increase of $49.40.
Single parents will also no longer be deprived of government support once their youngest child turns eight, single parent childcare benefit will now continue until that child turns 14.
It is estimated that approximately 57,000 families will benefit from this program at an additional $176.90 per fortnight.
Billions of dollars from cost of living measures and indexation will be paid out to millions of Australians in two weeks (stock image)
Measures to reduce the cost of living will cost the Albanian government $4.7 billion and will not increase inflation (stock image)
About 1.1 million Australian households on Commonwealth Rent Assistance will benefit from a 15 per cent increase in the maximum rate – the biggest in more than 30 years, as well as the CPI increase on September 20.
Payments will reach a base rate of $184.80 per fortnight, an increase of $27.60.
Recipients of family payments with one or two children will see their payments increase from $32.34 to $217.28 per fortnight.
Income limits for the Commonwealth Seniors Health Card will increase each year to $95,400 for singles and $152,640 for couples.
These measures will cost the Albanian government $4.7 billion.
Treasurer Jim Chalmers said the measures were “what people need, when they need them most” when it comes to the cost of living crisis.
“Whether it’s cheaper drugs, more support paying the bills, or a little help paying the rent, these policies and programs are meant to ease the pressure when times are tough. difficult,” he said.
The move follows other measures introduced in July, including cheaper childcare for 1.2 million families, a 15 per cent pay rise for 250,000 older workers and lower utility bills. electricity for low-income households and businesses.