In a world where the cost of living seems to be perpetually on the rise, it's a relief to hear that the Australian government is trying to ease everyone's financial burden.

For seniors who rely on social security payments, there's some good news on the horizon amidst the rising costs.

Centrelink, the government's main social welfare program, announced an upcoming increase in payments to help recipients keep up with inflation.

This adjustment was a part of the biannual indexation process happening every March and September.

These adjustments provide a much-needed financial boost for Australians' Centrelink benefits, including the Age Pension and JobSeeker.

Australians under Centrelink payments should see this payment increase soon. Image Credit: Freepik/Kraken Images

Social Services Minister Amanda Rishworth emphasised the importance of this indexation.

'Indexation is a critical part of our social security safety net,' Minister Rishworth shared in a statement.

'For pensioners and other payment recipients receiving this financial boost, this will help ease some pressure.'

So, what does this mean for you or your loved ones who may be receiving these payments?

More than 850,000 Australians on JobSeeker should see a modest increase in their payment while searching for employment.

Starting Thursday, 20 March, a single person will see their fortnightly payments rise by $3.10.

Meanwhile, couples will receive an additional $2.80 each.

This increase could bring the total fortnightly payments to $781.10 for singles and $715.10 for couples, amounting to an annual increase of $80.60 and $72.80, respectively.

Over 2.64 million recipients under Age Pension should see a more significant bump in their payments soon.

Recipients on the maximum single rate should expect an extra $4.60 per fortnight, while couples will get an additional $3.50 each.

Consequently, fortnightly payments should increase to $1,149 for single beneficiaries and $866.10 for couples.

This same $4.60 increase should also apply to individuals on the Disability Support Pension and Carer Payment.

Other Centrelink payments should also see small bumps on their payments.

ABSTUDY recipients should expect a rise of between $2.80 to $3.30 per fortnight, while those on Parenting Payment will see an increase of between $2.80 to $4.30.

Rent Assistance payments should also go up slightly, with an increase of between $0.50 to $1.12.

Minister Rishworth highlighted the government's commitment to strengthening the social security system over the past three years, ensuring it provides support 'at whatever age or stage they're at in life'.

In addition to the payment increases, JobSeeker recipients should also receive news regarding compliance.

Starting this month, job seekers who just registered with Workforce Australia or Disability Employment Services should not face compliance action if they fail to meet a requirement for the first time.

While these changes may not represent a windfall, every little bit could help when it comes to managing household budgets.

Managing finances could be a challenge, especially for seniors on a fixed income.

To enjoy these benefits and more, make sure to update your Centrelink information as soon as possible.

Key Takeaways

• Centrelink payments in Australia, such as JobSeeker and the Age Pension, should increase soon due to indexation.
• Social Services Minister Amanda Rishworth highlighted that the increase was a critical part of the social security system as it provides financial relief to pensioners and recipients.
• Starting Thursday, 20 March, singleJobSeeker recipients should receive an extra $3.10 fortnightly, while Age Pensioners will see more significant increases.
• Other payments such as the Disability Support Pension, Carer Payment, ABSTUDY, Parenting Payment, and Rent Assistance are also due to rise. Fewer JobSeeker recipients will face cut-offs due to new changes in compliance measures.

How will these changes impact your budget? Do you have any tips for stretching your Centrelink payments further? Sharing your experiences can help others make the most of their benefits. We would love to hear from you in the comments below!

 

[Itsherself]

It is an absolute insult to aged pensioners

 

[June E]

OMG I hate to sound ungrateful but really is that amount going to help anyone at all ?

 

[Suzanne rose]

It won't pay for even a loaf of bread a fortnight !

Why do pensioners need to update their information to get this ? It's automatic, this might confuse some people

 

[Charlie52]

An extra $4.60 a fortnight for the single aged pension is an insult.

 

[Jody 42]

OMG what a joke. How is this going to help us all who are on the disability pension.

 

[Maggie96]

$ 3.10 won't buy a cup of coffee

 

[michelehazelwood87@gmail.]

They did say nothing was ever going to be easy under albanese, it's a joke.

 

[Fedup pensioner]

I'm not ungrateful and appreciate every cent I receive but this is an absolute joke. I keep a budget spreadsheet to ensure I can afford to live on my pension but I have to say I am struggling. I update it every time we receive an increase as well as when my costs go up. In the past 12 months my cost for everything has increased $130 pa. It would have been $170 but thankfully I was able to get a reduction on 2 of my bills. This increase does not include my groceries. I don't drink or smoke, don't buy coffee very often and only go out once a week to catch up with friends so that I don't go insane. Every week when I shop I see the bracket creep in some of my groceries. What I used to be able to buy for $80 now costs $130 and I don't live extravagantly. I know things go up but between the rate they are increasing in price and decreasing in size it won't be long before we can't afford to eat and I'm sure are those that are already experiencing that. I suspect that it won't be long before the $4.60 won't even cover the cost of that loaf of bread.

 

[jenrobb]

Yes, minister $7.00 will certainly go a long way!!
Are you for real. Our home and contents insurance has increased by $30.00 a month alone, supermarket prices increase weekly, and you think that will go a long way to help us

 

[ElizabethL]

“Critical” cash boost. I hope that Danielle F is ashamed of herself for this ridiculous heading.

 

[Uncle Pauly]

You know any increase is great but $3.50 a F/N is hardly going to rock my boat. I am sorry I mean the $3.50 each a F/N. The really great thing is the government will take 25% back in rent, so roll on the 20th March.

 

[macca4949]

Where do these idiots get the idea of a "cash boost"? Cost of living under this Albo Sleazy has skyrocketed so just give everybody a $1000 cash boost which could come out off your and your parties massive totally unwarranted paycheck that you take for stuffing this country up, and the same goes for nude nut Dutton, the multi millionaire.

 

[Ingot]

It's not April 1st.
So this announcement should be placed in the Jokes and Funny Stories section of SDC.

It's an embarrassment to not only the Labor people in charge of the economy, but to the so-called Opposition who think this can pass to the keeper.
The Opposition should be ashamed to take their pay too - not a whimper out of them while they will be expecting pensioners to also vo0te for them.

So glad it is an election year.
Finally we get another opportunity to boot both of the major parties - neither of whom are truly representing the people .

My vote will not be wasted.
I am supporting either Libertarians or One nation or Family First in the Senate, and where they field candidates, I will be supporting them in the Lower House too.

If I don't change how I vote, I cannot change how I am governed - it is as simple and as easy as that.

 

[chezna]

We need to vote shortly so put Labor & Greens last! We got bigger increases under Liberal! This is an absolute joke!

 

[Tabby]

They did say nothing was ever going to be easy under albanese, it's a joke.

Just imagine of the Libs get in..they have stated the INDUE Card will be implemented for ALL Centrelink recipients Australia wide! Including Pensioners.
Msm and the Libs are VERY quiet about it, but Dutton and others this year have reinterated this.
NO thankyou very much!

 

[Leeta069]

$4.60 doesn't cover the cost of my loaf of bread as it went up in price to over $5 last week.

 

[Tabby]

You know any increase is great but $3.50 a F/N is hardly going to rock my boat. I am sorry I mean the $3.50 each a F/N. The really great thing is the government will take 25% back in rent, so roll on the 20th March.

Under the Libs we will all be put on their odious INDUE Card. ALL Centrelink recipients Australia wide will be put on it. Dutton and others this year have reinterated this, but the Libs and msm are VERY quiet about it.
Be careful who you vote for AND their preferences!

 

[Skeeta22]

Wow! Don't spend it all at once! It's not even enough for one cup of coffee a fortnight. Full Pension rate should be brought up to the level of the basic wage and THEN indexation applied, maybe that way those struggling on the Aged Pension would stand a chance of having enough to eat nutritionally and go out with lunch with friends occasionally. It really is about time the Government looked after those who've given their all to this country and paid taxes their entire working lives.

 

[Ingot]

OMG I hate to sound ungrateful but really is that amount going to help anyone at all ?

It just locks in a low base rate of pension payment.
Next 6 month's increase will be paid as a percentage of the base rate that will be locked in on March 20th.

If they gave us an $80/fortnight increase, it would only cover what my fortnightly rent went up by.
Anything less means I am further behind.
If they didn't kill us with the covid injections, they will do it by starvation.
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God's Judgment on a Wicked Bishop

"I'faith 'tis an excellent bonfire!" quoth he, "And the country is greatly obliged to me, For ridding it in these times forlorn Of Rats that only consume the corn." So then to his palace returned he, And he sat down to supper merrily, And he slept that night like an innocent man; But Bishop Hatto…

www.poetryfoundation.org

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