Centrelink payments will increase for millions of Australians on Monday
Centrelink payments will increase for over 4.7 million Australians from Monday – here’s what you’ll get
- Welfare payments are increasing on March 20
- More than 4.7 million Australians will benefit
More than 4.7 million Australians will soon receive a massive increase in their Centrelink benefits as they face the worst inflation in 32 years.
Australians who have a pension, are looking for work or are studying will get a 3.7 percent increase in their benefits within two weeks, on top of the 4 percent increase they received in September.
Individual disability pension recipients and caregivers will receive an additional $37.50 effective March 20, bringing the biweekly rate to $1,064.
Couples will get an extra $56.40 raising the biweekly payment to $1,604.
JobSeeker and ABSTUDY payments will increase by $24.70, bringing the biweekly payment to $701.90 for single recipients age 22 and older with no children.
Parenting payments will increase $33.90 to $967.90 per fortnight for single parents.
Commonwealth Rent Assistance will increase by $5.60 for singles, $6.58 for recipients with two children and another $7.42 for families with three or more children.
The 3.7 percent increase in welfare payments reflects an increase in headline inflation of 1.8 percent in the September quarter and 1.9 percent in the December quarter.
They are indexed twice a year, on March 20 and September 20, to reflect inflation over a six-month period, based on data for the most recent two quarters from the Australian Bureau of Statistics.
More than 4.7 million Australians will receive a massive increase in their Centrelink benefits as they face the worst inflation in 32 years.
Social Services Minister Amanda Rishworth said the latest indexing of welfare payments to inflation would go a long way in helping Australian welfare recipients cope with cost of living pressures.
“Indexation is a pillar of our social security system and we want more money in the pockets of ordinary Australians so they can better pay for essentials,” said Ms Rishworth.
‘Australia’s social security system exists to support our most vulnerable citizens, and we know they are feeling the pressure.’