About five million Aussies will get a cash boost when indexation on Centrelink payments starts tomorrow.
Centrelink payments are regularly indexed to maintain their value over time. Rate increases are automatically linked to specific price indices.
From March 20, people on an old-age pension, disability pension and informal carer’s benefit will receive $19.60 per fortnight for singles and $29.40 for couples every fortnight.
The maximum pension rate increases every fortnight to $1,116.30 for singles and $1,682.80 for couples.
About five million Aussies will get a cash boost within a week when indexation of payments starts later this month
Aussies on Centrelink payments will get a modest boost from March 20 as the Albanian government moves to tackle cost-of-living pressures (stock)
Single job seekers without children, and people over 22 years old who follow ABSTUDY, will receive an additional $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, up from 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 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 of whom have spent their lives working and contributing to our society or caring for a loved one,” she said.
Ms Rishworth said the regular indexation complements the boost the government has given to working-age and student benefits, as 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.