More than 5million Aussies to receive cash boost – what you need to know
- More than 5 million Australians get a financial boost
- Indexation increase for Centrelink payments
About 5.1 million Australians receiving income support will see an increase in their fortnightly social security payments from September 20. The superannuation, JobSeeker and Commonwealth Rent Assistance will all see increases.
The indexation increase, which takes place twice a year, results in an increase in the old-age pension, disability benefit and informal care payment of $28.10 per fortnight for single people and of $42.40 per fortnight for married couples.
Commonwealth’s rental assistance will also increase by 10 percent: $23 every two weeks for single people and $27.02 for families with up to two children.
Payments for single parents will also increase by $19.80 to $1,026.30 per fortnight.
The JobSeeker benefit will also increase by $15.30, with recipients determined to be partially able to work between 0 and 14 hours also moving to a higher JobSeeker rate, increasing their benefit by $71.20 per fortnight.
These changes will also take effect on September 20.
Social Services Minister Amanda Rishworth explained the changes to indexation on Sky News’ Sunday Agenda.
JobSeeker would rise by 2 percent and pensions would rise by 2.6 percent.
About 5.1 million Australians receiving income support will see an increase in their fortnightly social security payments, with superannuation, JobSeeker and Commonwealth Rent Assistance all getting boosts from September 20 (stock image)
The indexation increase, which takes place twice a year, will result in an increase in the old-age pension, disability benefit and carer’s payment of $28.10 per fortnight for single people and $42.40 per fortnight for married couples (stock image)
The rent subsidy was also increased by 10 percent, with a statutory increase of 2 percent for indexation.
She said the changes would not increase inflation and were necessary to support low-income Australians who are struggling to meet the cost of living.
“Our changes… particularly to the rent subsidy are putting downward pressure on inflation,” she said.
‘The overall impact on rents: if we hadn’t had Commonwealth Rent Assistance, rents would actually have been higher.
‘Other indexation increases are very important to support people, but this concerns a small group in our economy.’