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!

 

[wattorjw]

Danielle f your write up is a disgrace and you are quite pathetic you obviously are a full on labor government voter trying to promote their rubbish peanut payment how about dropping your favorite party promotion it stands out like a light house you are probably paid by labor to promote them

 

[Clancieblue]

Grateful for the crumbs but come on, a decent loaf of bread can cost $5. Not that I've been able to afford one. Last winter I saw oldies wrapped in blankets sitting in the dark, too worried about the power bill to turn on a light. Where do we live again?????
Something has to change,

Do you call a decent loaf of bread the ones that have advertising all over the wrapper and are full of preservatives?

 

[Veggiepatch]

What is all this rubbish with comments stating "won't buy a cup of coffee or a loaf a bread"?

Do you get a pension payment of B230 or C170 per fortnight? B and C standing for the "new" currencies of Bread and Coffee respectively?

 

[Veggiepatch]

Danielle f your write up is a disgrace and you are quite pathetic you obviously are a full on labor government voter trying to promote their rubbish peanut payment how about dropping your favorite party promotion it stands out like a light house you are probably paid by labor to promote them

You are a f**kwit of the highest order.

The author of this article is stating facts and does not have a political agenda. Another case of assumption without facts on your part.

 

[Milica]

Minister Rishworth (she calls this a financial boost and will help to ease the pressure) $2.30 per week, she has no idea nor do the politicians - the politicians who do a 3 yearly stint, get paid astronomically and then have a life - time pension - not the same amount as the lay person though! At the same time we are $4.60 better off - thank god for small mercies, even if you paid this amount quarterly to pensioners, that would be an increase of nearly $20 per annum! I bet their lunches cost more than $20!!
The energy they work with is ruthless!

 

[Trina G]

Dutton wants to put all Centrelink payments on a card to monitor our spending because he thinks we are incapable of doing this ourselves. Dutton also wants nuclear power stations built in Australia and he also thinks Donald Trump is fantastic with the way he his bulldozing his way through policies in America and wants to copy some of his policies if he is elected. Dutton is a joke and Albanese is a wimp, what hope have we got?

I would rather have a wimp than a lying joke.

 

[Veggiepatch]

The Liberal National Party's new campaign song....

 

[Polly.L]

I am grateful to be living in a country that provides a pension and other benefits for over 65s. There are many countries in the world where a person would be lucky to live to 65, let alone get a pension.

 

[IAN3005]

I beg you not to publish this garbage like this, pure and utter garbage. Makes me want to vomit.
'BOOST' they say... what crap ...doesn't pay for the 13.22% increase in electricity prices
Lrt alone private medical, rent, phone, water.

 

[IAN3005]

I am grateful to be living in a country that provides a pension and other benefits for over 65s. There are many countries in the world where a person would be lucky to live to 65, let alone get a pension.

I feel sorry for you.....

 

[IAN3005]

The Liberal National Party's new campaign song....



View attachment 70667

Exactly!!!!

 

[Leenie]

$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

Don’t waste your time ,it’s only falling on deaf ears.

 

[midgemills]

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!

It's our preferences, not theirs. Don't follow any how to vote cards. Make your own choices. The power in the preferential vote is all yours.

 

[Monks]

they just approved a rise in the cost of electricity and then this insult that will go no where near covering it our government is a JOKE, THEN AGAIN ELBOWS PAYS FOR NOTHING LIVING AT THE LODGE AND WHEN HE GETS VOTED OUT HE WILL LIVE ON US WITH A GREAT BIG PENSION 6 TIMES PLUS WHAT WE GET

 

[lionelsadlier68 @gmail.com]

Would be nice .But they should put a hold on power and every else going up. WE just keep going back to square.

 

[mawalker]

REALLY! This is ridiculous. Nobody cares for aged pensioners. I feel like bursting into tears. No one cares.

 

[IAN3005]

Don’t waste your time ,it’s only falling on deaf ears.

REALLY! This is ridiculous. Nobody cares for aged pensioners. I feel like bursting into tears. No one cares.

No, what is required is a visit to the local member's office....

 

[starrysnan]

When we were younger and working there was little emphasis on superannuation. These days workers are contributing for their retirement. However it seems many other things are being suggested to come out of the individual's super. My question is - will these future retirees be much better off than us given that a lot of their super has already been used and we presume government benefits will not be available.
My husband and I are trying to contain our excitement at the pension increase given that we also won't be able to pay for an NHS prescription with the $7.00. I am sure the politicians only look at the total cost for the whole of Australia and not what it means to each person.

 

[Wombat2u2004]

And all while the federal public servants in Canberra get a huge pay rise and are mostly on 6 figure salaries for doing very little.

 

[shellsone]

What an insulting joke to anyone on a pension. They might as well not bother. How is $2.80 supposed to relieve the cost of living? Do these people know anything about the real world? How does this Rishworth woman think that 0.50 cents to $1.12 is going to help with rent assistance? I am at a loss to even fathom how they can do this.