‘This will help ease some pressure’: New Centrelink change set to impact pensioners

Centrelink updates often brought financial changes that could make a significant difference for pensioners.

This week, adjustments to key pension thresholds are set to take effect—potentially allowing more seniors to qualify for support and increasing payments for those already receiving them.

Here’s what’s changing and what it could mean for seniors across the country.


Thousands of Australian seniors were set to gain access to the Age Pension as changes to income and asset thresholds came into effect on Thursday.

From 20 March, the upper limits for the income and asset tests used by Centrelink to determine eligibility increased, allowing more people to qualify for a part pension while also providing a slight boost to pension payments.

Australians aged 67 and older needed to meet both an income and asset test to receive the Age Pension.


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More Aussies now qualify for Age Pension. Image source: Pexel/Marcus Aurelius


With the updated thresholds, pensioners could now earn more and hold more assets while still qualifying for a part-payment.

Those receiving a part-pension were also entitled to the Pensioner Concession Card, which provided access to discounted healthcare, medication, and other savings worth over $1,000 annually.

The income limit for single pensioners to receive a part-pension rose to $2,510 per fortnight, an increase of $9.20.

For couples, the maximum fortnightly income to qualify for a part-pension increased by $14 to $3,836.40.


To receive the full Age Pension, singles could earn no more than $212 per fortnight, while couples had a combined limit of $372 per fortnight.

The figures did not include the work bonus scheme, which allowed pensioners to earn up to $300 per fortnight from employment without it affecting their pension.

The maximum assets single homeowners could hold while still qualifying for a part-pension increased to $697,000, while non-homeowners could now have up to $949,000.

For couples, the asset limit rose to $1,047,500 for homeowners and $1,299,500 for non-homeowners.

To receive the full pension, singles were restricted to $314,000 in assets as homeowners and $566,000 as non-homeowners.

For couples, the limits were $470,000 for homeowners and $722,000 for non-homeowners.


The Age Pension and other government payments, including JobSeeker, the Disability Support Pension, Carer Payment, and Parenting Payment, also increased on 20 March as part of regular indexation.

The maximum fortnightly rate for a single pensioner rose by $4.60 to $1,149.

Couples saw their individual payments increase by $3.50 to $866.10 each, bringing their combined total to $1,732.20—an overall increase of $7 per fortnight.

Social Services Minister Amanda Rishworth acknowledged the financial challenges faced by many pensioners, saying, ‘Indexation is a critical part of our social security safety net.’
‘For pensioners and other payment recipients receiving this financial boost, this will help ease some pressure.’


More changes are shaking up Centrelink payments—see how they could impact you!


Key Takeaways
  • Centrelink increased income and asset thresholds on 20 March, allowing more seniors to qualify for a part-pension.
  • Single pensioners could now earn up to $2,510 per fortnight, while couples had a new limit of $3,836.40.
  • The maximum asset limit for single homeowners rose to $697,000, with higher thresholds for non-homeowners and couples.
  • Pension rates increased slightly, with singles receiving $1,149 per fortnight and couples getting a combined $1,732.20.

With the new pension thresholds in place, will these changes make a real difference to your budget? Let us know your thoughts in the comments.
 

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This increase is an absolute insult to aged Australians who've worked their whole lives for this country, paid taxes and served this country in many ways. The increase is not even enough to pay for a takeaway coffee once a fortnight. How is this increase supposed to help with rising costs of food, medicines and the basic necessities of life? Food prices just keep going up, every fortnight when I go shopping things have increased in price again, and by a whole lot more than this miserly increase. Fruit and veg, who can afford those???While politicians are living the high life, many Pensioners are struggling to put food on their tables and pay bills. Shame on the Government.
 
Jobseekers have nothing to complain about you are getting paid to look for a job, Age Pensioners on the other hand are getting paid to live, we don't have the option to go to work unless you are ultra fit and don't have health issues. So I would be quiet if I was in their shoes.
 
And neither do I, but not everybody has the same advantages in life or the same opportunities.
Everybody's life journey is different s
and a little empathy doesn't hurts you.

Absolutely a joke.
well here is a new issue
this govt says if they win the next election the govt will give every one $150 to help with the electricity bills.WHOOPEE ONCE AGAIN
WILL THAT COVER THE %9 IT IS GOING UP ON electricity bills
ITS A FORM OF BLACKMAIL
THESE POLITICIANS ARE ROBBING FROM THE POOR AND PAYING IT TO THE RICH
%.04 pension increase is a joke
how much pay and tax cuts did everyone else get during the year
Someone should drop a bomb on all these would be politicians to wake them up as they are living in a dream world
P0LITICIANS LAST PAYRISE WAS MORE THAN
8 TIMES THE COST OF LIVING SO WHY ARE PENSIONS onlt %.04
$20,0000 dollars a year for politicians
around $108 for pensioners
 
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And neither do I, but not everybody has the same advantages in life or the same opportunities.
Everybody's life journey is different s
and a little empathy doesn't hurts you.
well that's not true
unexpected children .sudden deaths in families, marriage break ups and pension increases are all out of OUR HANDS
BUT WAIT THERES MORE?
 
well that's not true
unexpected children .sudden deaths in families, marriage break ups and pension increases are all out of OUR HANDS
BUT WAIT THERES MORE?
Isn't that exactly what I was saying
I said everybodys life journey is different.
Bad things happen to good people Some people arrive at pension age well set up
by being prudent and planning for their old age, others are lucky enough to receive an inheritance, others have made no allowance for their old age. Others have through no fault of their own b y misfortune in their life have ended up
in dire circumstances .
The person I was answering to was saying people on here were whingers for complaining about the lousy pension rise
and and insinuating that it was their own fault if they were relying solely on the pension and I was just trying to point out that everybody's life journey is different so why are you saying that what I'm saying isn't true
 
well here is a new issue
this govt says if they win the next election the govt will give every one $150 to help with the electricity bills.WHOOPEE ONCE AGAIN
WILL THAT COVER THE %9 IT IS GOING UP ON electricity bills
ITS A FORM OF BLACKMAIL
THESE POLITICIANS ARE ROBBING FROM THE POOR AND PAYING IT TO THE RICH
%.04 pension increase is a joke
how much pay and tax cuts did everyone else get during the year
Someone should drop a bomb on all these would be politicians to wake them up as they are living in a dream world
P0LITICIANS LAST PAYRISE WAS MORE THAN
8 TIMES THE COST OF LIVING SO WHY ARE PENSIONS onlt %.04
$20,0000 dollars a year for politicians
around $108 for pensioners
what do you mean by blackmail. Exactly who are they blackmailing and about what . That doesn't make any sense. What's that got to do with pension rises
 

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