Centrelink payments to get a boost: Here’s how much you will be getting
About five million Australians on Centrelink payments will get a cash boost when indexation starts later this month.
From March 20, people on an old-age pension, disability pension and informal caregiver benefit will receive an extra $19.60 every two weeks for singles and $29.40 for couples.
The maximum pension rate increases every fortnight to $1,116.30 for singles and $1,682.80 for couples.
About five million Australians on social security benefits will get a cash boost when indexation starts later this month (stock image)
At the end of the month, single job seekers without children and people over 22 who follow ABSTUDY will pocket an extra $13.50 per fortnight, bringing it to $771.50, including the energy supplement.
The single parent payment will also increase by $17.50 per fortnight, bringing the total fortnightly payments to just over $1,000.
A further 77,000 parents will now receive a higher benefit rate after entitlement was extended last year to parents with a youngest child under the age of 14, instead of the previous age limit of eight.
Each member of a couple receives an additional $12.30 per fortnight.
Commonwealth Rent Assistance, claimed by almost 1.4 million people, will rise by $3.40 to $188.20 per fortnight for single income support recipients.
Social Security Minister Amanda Rishworth said the regular indexation would complement the government’s boost to 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 maximum rates for Commonwealth Rent Assistance in 30 years,” she said.
Ms Rishworth said the Government’s ‘first priority’ is tackling inflation and pressures on the cost of living.
“These challenges highlight the importance of regular indexing to ensure payment recipients have more money in their pockets for everyday expenses,” she said.
The income and asset limits for the payments increasing on March 20 will also increase as a result of the indexation of payment rates.
The changes will cost the budget an additional $2.2 billion annually.