Are you ready for a bigger pension? Here's how millions are getting their boost

Heads up, members: there's a financial uplift on the way for millions of Australians who rely on social security payments.

A welcome increase will be reflected in the pockets of age pensioners, disability support recipients, and carers, thanks to the latest round of indexation.

This is a routine adjustment, but it's one that can make a significant difference in the day-to-day lives of many.



Starting tomorrow, March 20, single recipients of the age pension, disability support pension, and carer payments will see their fortnightly payments rise by $19.60. Couples will enjoy a combined increase of $29.40 per fortnight.

Counting the pension supplement and the energy supplement, the maximum rate for singles is $1,116.30 and for couples $1,682.80 every two weeks.


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Senior pensioner couples can get up to $841.40 weekly in line with tomorrow’s indexation. Image Credit: Shutterstock


Federal Social Services Minister Amanda Rishworth highlighted the importance of this increase, acknowledging that 'Pension recipients are some of the most vulnerable members of our communities, many having worked all their lives contributing to our society or caring for a loved one.'


Commonwealth Rent Assistance, JobSeeker, Parenting Payment (Single), and ABSTUDY have also been indexed, ensuring that these payments keep pace with the cost of living.

JobSeeker and ABSTUDY recipients aged 22 and over will see their single, without child rate increase by $13.50 a fortnight, totaling $771.50 (including the energy supplement).

Couples on these payments will receive an additional $12.30 each per fortnight, with their new rate being $706.20, energy supplement included.

Single parents receiving the parenting payment will also benefit from an extra $17.50 every two weeks. This brings their total fortnightly payment to $1,006.50, inclusive of the pension supplement, pharmaceutical allowance, and energy supplement.

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It's not just the payment rates that are on the rise; the income and assets limits for these payments will also see an increase as a result of the indexation.

This means that recipients can potentially earn more or have more in savings without affecting their eligibility for these crucial payments.


For those eager to see the complete list of changes, they can be found here, providing a detailed breakdown of how the indexation will be applied across the various payments.

If you're unsure about how the indexation affects you or if you have questions about your eligibility, don't hesitate to reach out to the Department of Social Services for more information.

Speaking of eligibility, did you know there’s another form of assistance you could be missing out on? Find out more about it here!
Key Takeaways

  • Social security payments in Australia will see an increase due to indexation on March 20.
  • Age pensions, disability support pensions, and carer payments will rise, with singles receiving an additional $19.60 and couples getting $29.40 more per fortnight.
  • Other payments such as Commonwealth Rent Assistance, JobSeeker, Parenting Payment Single and ABSTUDY will also be indexed.
  • The federal Social Services Minister highlighted that the increase will benefit some of the most vulnerable members of the community.
We'd love to hear from you, members. What are your thoughts on this latest round of increases? Share them in the comments below!
 
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why is it that the government needs or should cover everyone's expenses? I feel for you but the country would be broke doing that. We must be very close to that the way labour are throwing the cash.
THEY SEEM TO THROW OUT THE CASH TO EVERYONE BUT THE ONES WHO DESERVE IT THE MOST
THE RICH, THE WORKERS ,AND EVERYONE ELSE SHOULD HAVE CHILDREN THEY CANNOT AFFORD AND GETTING A JOB IS A NO NO
THE ONLY ONES IN GOVT WHO GET PAID SHOULD BE THE ONES WHO LOOK AFTER THERE ELDERS OR TELL THE TRUTH
IN THAT CASE THERE WOULD BE NO GOVT
TAKE THE POLITICIAN WHO SPENT $30.000 on a trip at tax payers expence AND MADE A BIG DEAL OF IT
WHAT ABOUT MORRISON WHO SPEMT A $1 million dollars on his HOLIDAY WHILE AUSTRALIA WAS ON FIRE at tax payers expence and yet cannot find the money to increase the welfare benefits to be equal to low income earners new benefits of $76 a weekOR AT ,LEAST SOMETHING AS SOME THING IS BETTER THAN THE USUAL NOTHING
 
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THEY SEEM TO THROW OUT THE CASH TO EVERYONE BUT THE ONES WHO DESERVE IT THE MOST
THE RICH, THE WORKERS ,AND EVERYONE ELSE SHOULD HAVE CHILDREN THEY CANNOT AFFORD AND GETTING A JOB IS A NO NO
THE ONLY ONES IN GOVT WHO GET PAID SHOULD BE THE ONES WHO LOOK AFTER THERE ELDERS OR TELL THE TRUTH
IN THAT CASE THERE WOULD BE NO GOVT
TAKE THE POLITICIAN WHO SPENT $30.000 on a trip at tax payers expence AND MADE A BIG DEAL OF IT
WHAT ABOUT MORRISON WHO SPEMT A $1 million dollars on his HOLIDAY WHILE AUSTRALIA WAS ON FIRE at tax payers expence and yet cannot find the money to increase the welfare benefits to be equal to low income earners new benefits of $76 a weekOR AT ,LEAST SOMETHING AS SOME THING IS BETTER THAN THE USUAL NOTHING
Stop government corruption and we will be better off.....
 
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$600 mil to a PNG footy team
$450 mil of unspent DOD budget money on 2 Jets
$450 mil on a failed referendum
$600 mil for Commonwealth Games
PM takes private jet to see Taylor Swift
$23 mil + $21 mil to UNWRA (read: HAMAS)
NDIS blowout with nobody doing a thing about it
Snowy2 Project Blowout
$370 bil wasted on fake Climate Change alarmism & renewables, that is inflating our energy bills

Tell me again how many new dwellings have been delivered since May 2022?
So please don't tell me that the Govt cannot help those in danger of being evicted over high rents.
Labor govts have always lacked spine - #Albozonese is the worst of them.

 
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$600 mil to a PNG footy team
$450 mil of unspent DOD budget money on 2 Jets
$450 mil on a failed referendum
$600 mil for Commonwealth Games
PM takes private jet to see Taylor Swift
$23 mil + $21 mil to UNWRA (read: HAMAS)
NDIS blowout with nobody doing a thing about it
Snowy2 Project Blowout
$370 bil wasted on fake Climate Change alarmism & renewables, that is inflating our energy bills

Tell me again how many new dwellings have been delivered since May 2022?
So please don't tell me that the Govt cannot help those in danger of being evicted over high rents.
Labor govts have always lacked spine - #Albozonese is the worst of them.

Touché.....
 
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Well it's time for them to Yap! Yap! Yap! about the bi-annual pension increases again.
Just in time the annualised inflation figure dropped to 3.5% in July.
So risible ... so transparent.

Anyone reading this actually believe the inflation rate to July was 3.5%?
Yet this is the figure our pension increases are based on every 6 months.

Conveniently they place the lower-than-expected Woolworths annual profit figures right under the inflation announcement.

As if we needed to feel sorry for the grocery thieves when OUR increase is due.

In the past 2 years, politicians have received THREE pay rises, giving them a base salary lift of $26,560. Anyone doing the sums would realise that is 1.5 times the basic aged pension - in just TWO %$#$@%& YEARS!!
TWOOO YEARS!
When the next % increase is applied to politicians pay, it is calculated on the BASE RATE. It is not an amount that compensates them for increased expenses - it's jam for toast!
Why is the base rate important?
Because pay rises are COMPOUNDED BASED ON THAT FIGURE.

Then there are the allowances paid on top of that, for ministers, shadow ministers, and anyone chairing a committee also gete well remunerated for that cushy little number. And committee members don't miss out either.
Those on committees need not attend every meeting. As long as they are there for around 60% of them.

MP's get car allowances, living away from home allowances and or accommodation allowances, meal allowances, travel allowances, electorate allowance, office allowances incl staffing, 15% Superannuation bonus, The minimum pension rate is 50% of the parliamentary allowance (after eight years of service) increasing with years of service to 75% max.

What have I missed?

No wonder they call it "The Money Pit.
Both #Albozo and #Spud got pay rises (that's r-i-s-e-s ) of $20,000 each in June this year.
Again - that's MORE than the basic aged pension, in ONE fell swoop!
ONE payrise of more than the aged pension in ONE YEAR!

Would be ok if they actually represented their constituency, but how many actually earn their pay? Well ... actually, no, it's not ok. It's obscene that Jobsearch and Pensions are so callously paid.
I'd say Malcolm Roberts works hard enough but he stands out.
The rest should be recalled, and fresh elections held, where they cannot participate.
.
.
 
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