Around five million Australians are expected to receive financial help when the indexation of Centrelink payments comes into effect tomorrow.
Centrelink payments are indexed every six months for inflation, with the 1.8 per cent increases taking effect on Wednesday reflecting the combined rise in the Consumer Price Index in the September and December quarters.
From March 20, people in receipt of Old Age Pension, Disability Support Pension and Carer’s Allowance will receive an additional $19.60 per fortnight for singles and $29.40 for couples every two weeks, starting March 20.
The maximum pension rate will increase to $1,116.30 for singles and $1,682.80 for couples per fortnight.
Around five million Australians are expected to receive financial help when indexation takes effect.
Single JobSeeker recipients without children and people over 22 on ABSTUDY will pocket an extra $13.50 per fortnight, bringing it to $771.50 including the energy supplement.
The payment for single parents will also increase by $17.50 per fortnight, bringing the total fortnightly payments to just over $1,000.
An additional 77,000 parents now benefit from a higher payment rate after eligibility was expanded last year to cover those whose youngest child is under 14, from eight.
Each member of a couple will receive an additional $12.30 per fortnight.
Commonwealth Rent Support, claimed by almost 1.4 million people, will increase by $3.40 to $188.20 a fortnight for single income support recipients.
Social Services Minister Amanda Rishworth (pictured in 2022) said tackling inflation and the rising cost of living was her “number one priority”.
Social Services Minister Amanda Rishworth said tackling inflation and the rising cost of living was her “number one priority”.
“Pension recipients are among the most vulnerable members of our communities, many having worked their entire lives to contribute to our society or care for a loved one,” she said.
Ms Rishworth said the regular indexation comes on top of the Government’s increase in working age and student benefits announced in last year’s Budget.
“This increase, which came into effect on September 20, 2023, also included the largest increase in the Commonwealth’s maximum rental assistance rates in 30 years,” she said.
