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!

 

[Leeta069]

That is expensive bread. We are paying $2.50 for our wholegrain bread and no it is not supermarket bread.

It is Williams brand and wholemeal sourdough, apparently the best for Diabetics. My sugars are good when I eat this so I am happy!

 

[Mr Chips]

Free public transport in WA....

Not here in NSW but it is subsidised.

 

[deannelindsay]

$4.60, this critical financial boost that I will get on a disability pension . What is this going to do? Get me one loaf of bread a fortnight....... My electricity is going up 9%. So, please Prime Minister Albanese, how is this right.

I am living below the poverty line, go without food, walking everywhere because I couldn't afford to get my car fixed

I have diabetes and many other health issues. My medications cost me up to $100 per month.

Having been homeless at 63 was degrading and disgusting. It broke my heart losing everything. My debts are getting worse, especially since my husband passed away.

We need a good cash boost of upwards of $250 quarterly so we can get some food, decent food. I can't remember the last time I had red meat that wasn't beef mince

Please help us properly. I'm begging you Mr Albanese please

 

[duckiedoodle]

I am amazed at the pride with which they tell us of this increase. They truly seem pleased with their efforts

 

[jsteele]

Im disgusted at this government that want to spend 900 billion on 10 submarines, then insult us all with a $4.60 slap in the face.
Pauline was correct, "pensioners should be getting an additional $200 pf."
The lefties are renowned for over-spending Australia's wealth.

 

[Bill Schulz]

The increase money my wife and I will be getting would not even cove for the rising cost of house and content and car insurance. Not to mention food, council rate, and energy increases. The increase money we are getting is an insult to us all. But as they say, it is better than nothing. The pension is well below the poverty line and even the minimum wage.

 

[melnugro]

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

YES YES YES THAT WAS THE FIRST WORD I SAW AND THEN THE ANGER WELLED UP INSIDE ME

 

[Jash]

$4.60 p/f is definitely not significant in my bank account, it's an insult to any person on the aged/disability pension. Considering what they said in January 25, that everyone would be paying an extra $1000 a year on normal household expenditure.

 

[Janmf]

An extra $4.60 a fortnight wow I can now think of that overseas holiday I’ve been dreaming about for decades. That does not even buy a dozen eggs.

 

[melnugro]

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!I

 

[Anthony Ellul]

Labour and Greens last , and liberals down there also !
we need to get rid of these 2 parties !

Yes but in what order? Don’t forget we have bloody preferential voting. You must tick every required box on the voting slip or it doesn’t count. That is the problem that leads to the political chaos because Parties want to be elected and they pander to the fringe parties at the our cost eventually.

 

[Auswallaby]

It is an absolute insult to aged pensioners

The increase for Age Pension of $4.60 and Rental Assistance of $0.50 P/F is a BLOODY INSULT...just had my rent increased by $100 p/w...how can the Government say they are keeping up with cost of living....They are full of SHITE.

 

[Scampie]

Stop reporting this as a boost. It's a joke.

 

[Carol Ceasar]

Just remember, NEVER AGAIN VOTE LABOR OR LIBERAL.

 

[Rustyas]

Wow, if I'm careful, I'll be able to afford a cup of coffee a month, provided, of course, I stop buying my groceries at Coles. Won't my landlord be thrilled that I can only afford 50 cents extra on my rent?

 

[tonyvs471@outlook .com]

Big deal, less than a coffee a fortnight!!!!!!

 

[Ivory]

So $5.60 extra a fortnight is going to mean sweet didly squat, and a loaf of bread a fortnight, but the politicians are sure this will help

 

[tonyvs471@outlook .com]

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.

The harder you work, the more you get, Albo, Mr Copacabana, has never worked hard in his life, just take dont give

 

[tonyvs471@outlook .com]

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!

Where did you get that crap from, go waste your vote on the greens or teals

 

[Leenie]

Wow all that money they will go out and buy half a cup of coffee every pay day now and you have the gall to make it sound soo much money its no where near the doctored inflation rate hell pensioners will afford another tin of baked beans every fortnight now pathetic no other words to describe it

And most baked beans are imported s**t.