As the cost of living continues to rise, many people are feeling the pinch. However, those living on fixed incomes, such as pensioners, are often hit the hardest.

With limited funds available, many struggle to make ends meet and afford necessities like food, housing, and healthcare.

For these individuals, any increase in their pension payments can be a welcome relief, providing them with some much-needed financial support.

If you’re one of those people who are looking forward to payment boosts, then we’ve got news for you!

More than 4.7 million Australians are set to receive a boost in their fortnightly payments, starting March 20, to keep up with the increasing cost of living.

A significant increase in the pension and allowance payments for more than 4.7 million Australians is expected to come into effect this month. Credit: Shutterstock.

Single pensioners, disability pensioners and carers will receive an extra $37.50 each fortnight and couples will now enjoy an extra $56.40 per fortnight. This boost brings their payments to $1,064 and $1,604 respectively.

Non-pensioners who rely on Centrelink payments will also get some relief. Here’s a breakdown:

• JobSeeker and ABSTUDY payments will increase by $24.70 bringing the fortnight payment to $701.90 for single recipients aged over 22 with no children.
• Parenting Payments will rise by $33.90 to $967.90 a fortnight for single parents.
• Commonwealth Rent Assistance will increase by $5.60 for singles, $6.58 for recipients with two children, and another $7.42 for families with three or more kids.

Credit: Seniors Discount Club.

The increase comes as part of the twice-yearly indexation, ensuring that pensions and allowance payments remain aligned with inflation

Surprisingly, the increase in pension payments has outpaced that of wages, with pensions rising at twice the rate of wages in recent months.

In September, pensions saw a significant increase of 4%, followed by another substantial hike of 3.7% in March.

In contrast, Australian wages rose by 3.3 per cent last year, which was the quickest pace in ten years. However, this increase was far below the inflation rate, which stood at 7.8 per cent - the highest since 1990.

Social Services Minister Amanda Rishworth said the good news will be a real ‘lift’ for those relying on welfare payments, who have felt the pinch of increasing prices on commodities.

She remarked: ‘Indexation is a pillar of our social security system and we want more money in the pockets of everyday Australians so they can better afford essentials.’

'Australia's social security system exists to support our most vulnerable citizens, and we know they are feeling the pinch.'

As exciting as this news is, we must accept that it’s not truly ‘rainbows and unicorns’. We still have to brace ourselves with the likelihood of double-digit mortgage hikes, with the RBA tipping a 10th consecutive rate rise on Tuesday.

The cash rate is expected to increase to 3.6 per cent from 3.35 per cent after the RBA’s comments last month suggested it was growing impatient with high inflation.

This increase represents a 63.8 per cent rise in repayments. At that time, the major banks were providing an average fixed rate of 1.92 per cent.

It should be noted that Australia’s biggest lender, Commonwealth Bank, is currently offering a one-year fixed rate of 5.99%.

Meanwhile, NAB has raised its variable rate for borrowers with a mortgage of less than 20% deposit by 0.2 percentage points to 6.44%.

Key Takeaways

• More than 4.7 million Australians are set to receive a boost in their fortnightly payments, starting March 20.
• Single pensioners, disability pensioners and carers will receive an extra $37.50 each fortnight, couples will enjoy an extra $56.40 and other welfare recipients will receive increases.
• The increase comes as part of twice-yearly indexation, to ensure that pensions and allowance payments remain aligned with inflation.
• The RBA is tipping a 10th consecutive rate rise. Major banks are offering fixed rates of up to 5.99%.

So, there you have it, folks! While many pensioners welcome this boost, we must be realistic and recognise that it's not a quick fix. As pensions grow, so does inflation and the cost of living.

This creates a vicious cycle where pensioners are forced to tighten their budgets even further just to keep up or find themselves falling behind.

What are your thoughts on these changes? Do you think the payment boosts offer enough relief for those who live on fixed incomes? Share your thoughts with us in the comments below.

 

[Jennylolo]

Inflation 7.8%, pension increase 3.7%, wow maybe we can have a full slice of bread each instead of half, and we are better off than a lot of other people. I am nearing 70 but won’t be able to afford to retire yet on that increase. I think it should become compulsory for every politician to spend a month living on the same money as welfare recipients, that is the only way they are ever going to get the reality check they need.

I'm also holding off on retirement, but working less. And I still have a mortgage.

 

[debjane]

A whole $37 a fortnight between my wife and I. Gosh, we’d better not spend it all at once!

Married couples get $56.40 per fnt, singles get $37.

 

[Vio Kot]

Communal living will be the way to go for the future since we won't be able to pay our mortgages, utilities and groceries.

 

[Ian Crane-Luff]

As the cost of living continues to rise, many people are feeling the pinch. However, those living on fixed incomes, such as pensioners, are often hit the hardest.

With limited funds available, many struggle to make ends meet and afford necessities like food, housing, and healthcare.

For these individuals, any increase in their pension payments can be a welcome relief, providing them with some much-needed financial support.

If you’re one of those people who are looking forward to payment boosts, then we’ve got news for you!

More than 4.7 million Australians are set to receive a boost in their fortnightly payments, starting March 20, to keep up with the increasing cost of living.

View attachment 15005

A significant increase in the pension and allowance payments for more than 4.7 million Australians is expected to come into effect this month. Credit: Shutterstock.

Single pensioners, disability pensioners and carers will receive an extra $37.50 each fortnight and couples will now enjoy an extra $56.40 per fortnight. This boost brings their payments to $1,064 and $1,604 respectively.

Non-pensioners who rely on Centrelink payments will also get some relief. Here’s a breakdown:

• JobSeeker and ABSTUDY payments will increase by $24.70 bringing the fortnight payment to $701.90 for single recipients aged over 22 with no children.
• Parenting Payments will rise by $33.90 to $967.90 a fortnight for single parents.
• Commonwealth Rent Assistance will increase by $5.60 for singles, $6.58 for recipients with two children, and another $7.42 for families with three or more kids.

View attachment 15021

Credit: Seniors Discount Club.

The increase comes as part of the twice-yearly indexation, ensuring that pensions and allowance payments remain aligned with inflation

Surprisingly, the increase in pension payments has outpaced that of wages, with pensions rising at twice the rate of wages in recent months.

In September, pensions saw a significant increase of 4%, followed by another substantial hike of 3.7% in March.

In contrast, Australian wages rose by 3.3 per cent last year, which was the quickest pace in ten years. However, this increase was far below the inflation rate, which stood at 7.8 per cent - the highest since 1990.

Social Services Minister Amanda Rishworth said the good news will be a real ‘lift’ for those relying on welfare payments, who have felt the pinch of increasing prices on commodities.

She remarked: ‘Indexation is a pillar of our social security system and we want more money in the pockets of everyday Australians so they can better afford essentials.’

'Australia's social security system exists to support our most vulnerable citizens, and we know they are feeling the pinch.'

As exciting as this news is, we must accept that it’s not truly ‘rainbows and unicorns’. We still have to brace ourselves with the likelihood of double-digit mortgage hikes, with the RBA tipping a 10th consecutive rate rise on Tuesday.

The cash rate is expected to increase to 3.6 per cent from 3.35 per cent after the RBA’s comments last month suggested it was growing impatient with high inflation.

This increase represents a 63.8 per cent rise in repayments. At that time, the major banks were providing an average fixed rate of 1.92 per cent.

It should be noted that Australia’s biggest lender, Commonwealth Bank, is currently offering a one-year fixed rate of 5.99%.

Meanwhile, NAB has raised its variable rate for borrowers with a mortgage of less than 20% deposit by 0.2 percentage points to 6.44%.

Key Takeaways

• More than 4.7 million Australians are set to receive a boost in their fortnightly payments, starting March 20.
• Single pensioners, disability pensioners and carers will receive an extra $37.50 each fortnight, couples will enjoy an extra $56.40 and other welfare recipients will receive increases.
• The increase comes as part of twice-yearly indexation, to ensure that pensions and allowance payments remain aligned with inflation.
• The RBA is tipping a 10th consecutive rate rise. Major banks are offering fixed rates of up to 5.99%.

So, there you have it, folks! While many pensioners welcome this boost, we must be realistic and recognise that it's not a quick fix. As pensions grow, so does inflation and the cost of living.

This creates a vicious cycle where pensioners are forced to tighten their budgets even further just to keep up or find themselves falling behind.

What are your thoughts on these changes? Do you think the payment boosts offer enough relief for those who live on fixed incomes? Share your thoughts with us in the comments below.

These increases are based on December 22 inflation and are well down on inflation today, so still remain way behind the current cost of living

 

[Lynjw]

As the cost of living continues to rise, many people are feeling the pinch. However, those living on fixed incomes, such as pensioners, are often hit the hardest.

With limited funds available, many struggle to make ends meet and afford necessities like food, housing, and healthcare.

For these individuals, any increase in their pension payments can be a welcome relief, providing them with some much-needed financial support.

If you’re one of those people who are looking forward to payment boosts, then we’ve got news for you!

More than 4.7 million Australians are set to receive a boost in their fortnightly payments, starting March 20, to keep up with the increasing cost of living.

View attachment 15005

A significant increase in the pension and allowance payments for more than 4.7 million Australians is expected to come into effect this month. Credit: Shutterstock.

Single pensioners, disability pensioners and carers will receive an extra $37.50 each fortnight and couples will now enjoy an extra $56.40 per fortnight. This boost brings their payments to $1,064 and $1,604 respectively.

Non-pensioners who rely on Centrelink payments will also get some relief. Here’s a breakdown:

• JobSeeker and ABSTUDY payments will increase by $24.70 bringing the fortnight payment to $701.90 for single recipients aged over 22 with no children.
• Parenting Payments will rise by $33.90 to $967.90 a fortnight for single parents.
• Commonwealth Rent Assistance will increase by $5.60 for singles, $6.58 for recipients with two children, and another $7.42 for families with three or more kids.

View attachment 15021

Credit: Seniors Discount Club.

The increase comes as part of the twice-yearly indexation, ensuring that pensions and allowance payments remain aligned with inflation

Surprisingly, the increase in pension payments has outpaced that of wages, with pensions rising at twice the rate of wages in recent months.

In September, pensions saw a significant increase of 4%, followed by another substantial hike of 3.7% in March.

In contrast, Australian wages rose by 3.3 per cent last year, which was the quickest pace in ten years. However, this increase was far below the inflation rate, which stood at 7.8 per cent - the highest since 1990.

Social Services Minister Amanda Rishworth said the good news will be a real ‘lift’ for those relying on welfare payments, who have felt the pinch of increasing prices on commodities.

She remarked: ‘Indexation is a pillar of our social security system and we want more money in the pockets of everyday Australians so they can better afford essentials.’

'Australia's social security system exists to support our most vulnerable citizens, and we know they are feeling the pinch.'

As exciting as this news is, we must accept that it’s not truly ‘rainbows and unicorns’. We still have to brace ourselves with the likelihood of double-digit mortgage hikes, with the RBA tipping a 10th consecutive rate rise on Tuesday.

The cash rate is expected to increase to 3.6 per cent from 3.35 per cent after the RBA’s comments last month suggested it was growing impatient with high inflation.

This increase represents a 63.8 per cent rise in repayments. At that time, the major banks were providing an average fixed rate of 1.92 per cent.

It should be noted that Australia’s biggest lender, Commonwealth Bank, is currently offering a one-year fixed rate of 5.99%.

Meanwhile, NAB has raised its variable rate for borrowers with a mortgage of less than 20% deposit by 0.2 percentage points to 6.44%.

Key Takeaways

• More than 4.7 million Australians are set to receive a boost in their fortnightly payments, starting March 20.
• Single pensioners, disability pensioners and carers will receive an extra $37.50 each fortnight, couples will enjoy an extra $56.40 and other welfare recipients will receive increases.
• The increase comes as part of twice-yearly indexation, to ensure that pensions and allowance payments remain aligned with inflation.
• The RBA is tipping a 10th consecutive rate rise. Major banks are offering fixed rates of up to 5.99%.

So, there you have it, folks! While many pensioners welcome this boost, we must be realistic and recognise that it's not a quick fix. As pensions grow, so does inflation and the cost of living.

This creates a vicious cycle where pensioners are forced to tighten their budgets even further just to keep up or find themselves falling behind.

What are your thoughts on these changes? Do you think the payment boosts offer enough relief for those who live on fixed incomes? Share your thoughts with us in the comments below.

The increase is pathetic. Hardly helps at all. We work and pay taxes all our lives and the govt treats pensioners like 3rd class citizens. What comes next. Old age euthanasia to save money.

 

[muggins]

"The increase comes as part of the twice-yearly indexation, ensuring that pensions and allowance payments remain aligned with inflation". So it is not the generosity of our well-heeled politicians seeking to improve pensioner's living standards? I gather that Australia's official poverty line for a family of two plus a couple of kids is somewhere in the $50 000-mark. I suggest that an Old Aged Pension of $37000-$38000 a year for a couple, means-tested, is inadequate especially if the pensioners are renting or still paying a mortgage (yes, some are). How about a Universal non-means-tested pension government guaranteed paid for through a system such as the former British National Insurance Scheme into which all, including employers, contributed and which was isolated from Consolidated Revenue?


Or is Australia just a country populated by self-righteous begrudgers of the Maggie Thatcher type?

OLD AGE PENSIONS ARE NOT WELFARE WE PAID OUR TAXES THERE WAS A SEPERATE PENSION WHICH EAS PAID BY ALL WORKERS BUT AS USUAL IT WAS TAKEN BY GOVERMENT TO PAY FOR THE 1939-1945 WAR THE THEY INCREASED TAX BY A SMALL PERCENTAGE AND SAID YOU WOULD GET A PENSION WHEN YOU TURNED 65 I REITERATE PENSION NOT WELFARE

 

[MRP]

As the cost of living continues to rise, many people are feeling the pinch. However, those living on fixed incomes, such as pensioners, are often hit the hardest.

With limited funds available, many struggle to make ends meet and afford necessities like food, housing, and healthcare.

For these individuals, any increase in their pension payments can be a welcome relief, providing them with some much-needed financial support.

If you’re one of those people who are looking forward to payment boosts, then we’ve got news for you!

More than 4.7 million Australians are set to receive a boost in their fortnightly payments, starting March 20, to keep up with the increasing cost of living.

View attachment 15005

A significant increase in the pension and allowance payments for more than 4.7 million Australians is expected to come into effect this month. Credit: Shutterstock.

Single pensioners, disability pensioners and carers will receive an extra $37.50 each fortnight and couples will now enjoy an extra $56.40 per fortnight. This boost brings their payments to $1,064 and $1,604 respectively.

Non-pensioners who rely on Centrelink payments will also get some relief. Here’s a breakdown:

• JobSeeker and ABSTUDY payments will increase by $24.70 bringing the fortnight payment to $701.90 for single recipients aged over 22 with no children.
• Parenting Payments will rise by $33.90 to $967.90 a fortnight for single parents.
• Commonwealth Rent Assistance will increase by $5.60 for singles, $6.58 for recipients with two children, and another $7.42 for families with three or more kids.

View attachment 15021

Credit: Seniors Discount Club.

The increase comes as part of the twice-yearly indexation, ensuring that pensions and allowance payments remain aligned with inflation

Surprisingly, the increase in pension payments has outpaced that of wages, with pensions rising at twice the rate of wages in recent months.

In September, pensions saw a significant increase of 4%, followed by another substantial hike of 3.7% in March.

In contrast, Australian wages rose by 3.3 per cent last year, which was the quickest pace in ten years. However, this increase was far below the inflation rate, which stood at 7.8 per cent - the highest since 1990.

Social Services Minister Amanda Rishworth said the good news will be a real ‘lift’ for those relying on welfare payments, who have felt the pinch of increasing prices on commodities.

She remarked: ‘Indexation is a pillar of our social security system and we want more money in the pockets of everyday Australians so they can better afford essentials.’

'Australia's social security system exists to support our most vulnerable citizens, and we know they are feeling the pinch.'

As exciting as this news is, we must accept that it’s not truly ‘rainbows and unicorns’. We still have to brace ourselves with the likelihood of double-digit mortgage hikes, with the RBA tipping a 10th consecutive rate rise on Tuesday.

The cash rate is expected to increase to 3.6 per cent from 3.35 per cent after the RBA’s comments last month suggested it was growing impatient with high inflation.

This increase represents a 63.8 per cent rise in repayments. At that time, the major banks were providing an average fixed rate of 1.92 per cent.

It should be noted that Australia’s biggest lender, Commonwealth Bank, is currently offering a one-year fixed rate of 5.99%.

Meanwhile, NAB has raised its variable rate for borrowers with a mortgage of less than 20% deposit by 0.2 percentage points to 6.44%.

Key Takeaways

• More than 4.7 million Australians are set to receive a boost in their fortnightly payments, starting March 20.
• Single pensioners, disability pensioners and carers will receive an extra $37.50 each fortnight, couples will enjoy an extra $56.40 and other welfare recipients will receive increases.
• The increase comes as part of twice-yearly indexation, to ensure that pensions and allowance payments remain aligned with inflation.
• The RBA is tipping a 10th consecutive rate rise. Major banks are offering fixed rates of up to 5.99%.

So, there you have it, folks! While many pensioners welcome this boost, we must be realistic and recognise that it's not a quick fix. As pensions grow, so does inflation and the cost of living.

This creates a vicious cycle where pensioners are forced to tighten their budgets even further just to keep up or find themselves falling behind.

What are your thoughts on these changes? Do you think the payment boosts offer enough relief for those who live on fixed incomes? Share your thoughts with us in the comments below.

I would rather have a bulk payment, being too sick to work and having to go on Centrelink unemployment, I was priced out of rental market and so grateful to get a housing commission unit to rent. Last sept got excited to get an increase from Centrelink only to find out it all went into a rent increase, being new to this I asked about it, and yes it goes up twice a year when we get an increase the rent goes up accordingly and it virtually swallows up the increase. So not excited this time round and I am watching my letterbox for the increase notice. I did get an increase notice for electricity rates, so with that and increased rent the extra is gone! A bulk payment would be better as it wouldn’t be swallowed up in a rent increase and I would actually get some benefit from it.

 

[Pommyoz]

I don't know how this stuff all works my Centrelink pension going up $6.16, is that because I get a superannuation pension as well.

Yes I imagine so, one compensates the other.

 

[chrissietodd]

A whole $37 a fortnight between my wife and I. Gosh, we’d better not spend it all at once!

You will actually receive $56.40 between the pair of you! Certainly not very much, but being on a pension we all know how every little bit helps! Stay healthy

 

[Defiant540]

Sadly not everyone will be happy with the increase that they will be getting, it is very hard out there and we are lucky that we live in a housing trust place, however although there are two disabled people in the house and one carer, we also have a working adult living with us as well so we are paying the full amount, however having said that, it is still below what many are paying for their rent be it renting privately or a mortgage. I don't want to say I am grateful considering my husband and I paid taxes for the 30 to 40 years we worked before my husband due to his work became disabled and me being his carer and having to also due to health issues I had to stop working. I do know a pension is a right not a privilege. We have all earned what is our due and we also shouldn't have to be made to feel like we are begging to be able to live decently later in life.

too true!

 

[Defiant540]

As the cost of living continues to rise, many people are feeling the pinch. However, those living on fixed incomes, such as pensioners, are often hit the hardest.

With limited funds available, many struggle to make ends meet and afford necessities like food, housing, and healthcare.

For these individuals, any increase in their pension payments can be a welcome relief, providing them with some much-needed financial support.

If you’re one of those people who are looking forward to payment boosts, then we’ve got news for you!

More than 4.7 million Australians are set to receive a boost in their fortnightly payments, starting March 20, to keep up with the increasing cost of living.

View attachment 15005

A significant increase in the pension and allowance payments for more than 4.7 million Australians is expected to come into effect this month. Credit: Shutterstock.

Single pensioners, disability pensioners and carers will receive an extra $37.50 each fortnight and couples will now enjoy an extra $56.40 per fortnight. This boost brings their payments to $1,064 and $1,604 respectively.

Non-pensioners who rely on Centrelink payments will also get some relief. Here’s a breakdown:

• JobSeeker and ABSTUDY payments will increase by $24.70 bringing the fortnight payment to $701.90 for single recipients aged over 22 with no children.
• Parenting Payments will rise by $33.90 to $967.90 a fortnight for single parents.
• Commonwealth Rent Assistance will increase by $5.60 for singles, $6.58 for recipients with two children, and another $7.42 for families with three or more kids.

View attachment 15021

Credit: Seniors Discount Club.

The increase comes as part of the twice-yearly indexation, ensuring that pensions and allowance payments remain aligned with inflation

Surprisingly, the increase in pension payments has outpaced that of wages, with pensions rising at twice the rate of wages in recent months.

In September, pensions saw a significant increase of 4%, followed by another substantial hike of 3.7% in March.

In contrast, Australian wages rose by 3.3 per cent last year, which was the quickest pace in ten years. However, this increase was far below the inflation rate, which stood at 7.8 per cent - the highest since 1990.

Social Services Minister Amanda Rishworth said the good news will be a real ‘lift’ for those relying on welfare payments, who have felt the pinch of increasing prices on commodities.

She remarked: ‘Indexation is a pillar of our social security system and we want more money in the pockets of everyday Australians so they can better afford essentials.’

'Australia's social security system exists to support our most vulnerable citizens, and we know they are feeling the pinch.'

As exciting as this news is, we must accept that it’s not truly ‘rainbows and unicorns’. We still have to brace ourselves with the likelihood of double-digit mortgage hikes, with the RBA tipping a 10th consecutive rate rise on Tuesday.

The cash rate is expected to increase to 3.6 per cent from 3.35 per cent after the RBA’s comments last month suggested it was growing impatient with high inflation.

This increase represents a 63.8 per cent rise in repayments. At that time, the major banks were providing an average fixed rate of 1.92 per cent.

It should be noted that Australia’s biggest lender, Commonwealth Bank, is currently offering a one-year fixed rate of 5.99%.

Meanwhile, NAB has raised its variable rate for borrowers with a mortgage of less than 20% deposit by 0.2 percentage points to 6.44%.

Key Takeaways

• More than 4.7 million Australians are set to receive a boost in their fortnightly payments, starting March 20.
• Single pensioners, disability pensioners and carers will receive an extra $37.50 each fortnight, couples will enjoy an extra $56.40 and other welfare recipients will receive increases.
• The increase comes as part of twice-yearly indexation, to ensure that pensions and allowance payments remain aligned with inflation.
• The RBA is tipping a 10th consecutive rate rise. Major banks are offering fixed rates of up to 5.99%.

So, there you have it, folks! While many pensioners welcome this boost, we must be realistic and recognise that it's not a quick fix. As pensions grow, so does inflation and the cost of living.

This creates a vicious cycle where pensioners are forced to tighten their budgets even further just to keep up or find themselves falling behind.

What are your thoughts on these changes? Do you think the payment boosts offer enough relief for those who live on fixed incomes? Share your thoughts with us in the comments below.

what about the Aged? are we invisible??

 

[Berrie23]

As the cost of living continues to rise, many people are feeling the pinch. However, those living on fixed incomes, such as pensioners, are often hit the hardest.

With limited funds available, many struggle to make ends meet and afford necessities like food, housing, and healthcare.

For these individuals, any increase in their pension payments can be a welcome relief, providing them with some much-needed financial support.

If you’re one of those people who are looking forward to payment boosts, then we’ve got news for you!

More than 4.7 million Australians are set to receive a boost in their fortnightly payments, starting March 20, to keep up with the increasing cost of living.

View attachment 15005

A significant increase in the pension and allowance payments for more than 4.7 million Australians is expected to come into effect this month. Credit: Shutterstock.

Single pensioners, disability pensioners and carers will receive an extra $37.50 each fortnight and couples will now enjoy an extra $56.40 per fortnight. This boost brings their payments to $1,064 and $1,604 respectively.

Non-pensioners who rely on Centrelink payments will also get some relief. Here’s a breakdown:

• JobSeeker and ABSTUDY payments will increase by $24.70 bringing the fortnight payment to $701.90 for single recipients aged over 22 with no children.
• Parenting Payments will rise by $33.90 to $967.90 a fortnight for single parents.
• Commonwealth Rent Assistance will increase by $5.60 for singles, $6.58 for recipients with two children, and another $7.42 for families with three or more kids.

View attachment 15021

Credit: Seniors Discount Club.

The increase comes as part of the twice-yearly indexation, ensuring that pensions and allowance payments remain aligned with inflation

Surprisingly, the increase in pension payments has outpaced that of wages, with pensions rising at twice the rate of wages in recent months.

In September, pensions saw a significant increase of 4%, followed by another substantial hike of 3.7% in March.

In contrast, Australian wages rose by 3.3 per cent last year, which was the quickest pace in ten years. However, this increase was far below the inflation rate, which stood at 7.8 per cent - the highest since 1990.

Social Services Minister Amanda Rishworth said the good news will be a real ‘lift’ for those relying on welfare payments, who have felt the pinch of increasing prices on commodities.

She remarked: ‘Indexation is a pillar of our social security system and we want more money in the pockets of everyday Australians so they can better afford essentials.’

'Australia's social security system exists to support our most vulnerable citizens, and we know they are feeling the pinch.'

As exciting as this news is, we must accept that it’s not truly ‘rainbows and unicorns’. We still have to brace ourselves with the likelihood of double-digit mortgage hikes, with the RBA tipping a 10th consecutive rate rise on Tuesday.

The cash rate is expected to increase to 3.6 per cent from 3.35 per cent after the RBA’s comments last month suggested it was growing impatient with high inflation.

This increase represents a 63.8 per cent rise in repayments. At that time, the major banks were providing an average fixed rate of 1.92 per cent.

It should be noted that Australia’s biggest lender, Commonwealth Bank, is currently offering a one-year fixed rate of 5.99%.

Meanwhile, NAB has raised its variable rate for borrowers with a mortgage of less than 20% deposit by 0.2 percentage points to 6.44%.

Key Takeaways

• More than 4.7 million Australians are set to receive a boost in their fortnightly payments, starting March 20.
• Single pensioners, disability pensioners and carers will receive an extra $37.50 each fortnight, couples will enjoy an extra $56.40 and other welfare recipients will receive increases.
• The increase comes as part of twice-yearly indexation, to ensure that pensions and allowance payments remain aligned with inflation.
• The RBA is tipping a 10th consecutive rate rise. Major banks are offering fixed rates of up to 5.99%.

So, there you have it, folks! While many pensioners welcome this boost, we must be realistic and recognise that it's not a quick fix. As pensions grow, so does inflation and the cost of living.

This creates a vicious cycle where pensioners are forced to tighten their budgets even further just to keep up or find themselves falling behind.

What are your thoughts on these changes? Do you think the payment boosts offer enough relief for those who live on fixed incomes? Share your thoughts with us in the comments below.

 

[Berrie23]

what about the Aged? are we invisible??

Read the article again! In its wisdom the Government gives with one hand and takes away with MANY hands!

 

[dancequeen1]

As the cost of living continues to rise, many people are feeling the pinch. However, those living on fixed incomes, such as pensioners, are often hit the hardest.

With limited funds available, many struggle to make ends meet and afford necessities like food, housing, and healthcare.

For these individuals, any increase in their pension payments can be a welcome relief, providing them with some much-needed financial support.

If you’re one of those people who are looking forward to payment boosts, then we’ve got news for you!

More than 4.7 million Australians are set to receive a boost in their fortnightly payments, starting March 20, to keep up with the increasing cost of living.

View attachment 15005

A significant increase in the pension and allowance payments for more than 4.7 million Australians is expected to come into effect this month. Credit: Shutterstock.

Single pensioners, disability pensioners and carers will receive an extra $37.50 each fortnight and couples will now enjoy an extra $56.40 per fortnight. This boost brings their payments to $1,064 and $1,604 respectively.

Non-pensioners who rely on Centrelink payments will also get some relief. Here’s a breakdown:

• JobSeeker and ABSTUDY payments will increase by $24.70 bringing the fortnight payment to $701.90 for single recipients aged over 22 with no children.
• Parenting Payments will rise by $33.90 to $967.90 a fortnight for single parents.
• Commonwealth Rent Assistance will increase by $5.60 for singles, $6.58 for recipients with two children, and another $7.42 for families with three or more kids.

View attachment 15021

Credit: Seniors Discount Club.

The increase comes as part of the twice-yearly indexation, ensuring that pensions and allowance payments remain aligned with inflation

Surprisingly, the increase in pension payments has outpaced that of wages, with pensions rising at twice the rate of wages in recent months.

In September, pensions saw a significant increase of 4%, followed by another substantial hike of 3.7% in March.

In contrast, Australian wages rose by 3.3 per cent last year, which was the quickest pace in ten years. However, this increase was far below the inflation rate, which stood at 7.8 per cent - the highest since 1990.

Social Services Minister Amanda Rishworth said the good news will be a real ‘lift’ for those relying on welfare payments, who have felt the pinch of increasing prices on commodities.

She remarked: ‘Indexation is a pillar of our social security system and we want more money in the pockets of everyday Australians so they can better afford essentials.’

'Australia's social security system exists to support our most vulnerable citizens, and we know they are feeling the pinch.'

As exciting as this news is, we must accept that it’s not truly ‘rainbows and unicorns’. We still have to brace ourselves with the likelihood of double-digit mortgage hikes, with the RBA tipping a 10th consecutive rate rise on Tuesday.

The cash rate is expected to increase to 3.6 per cent from 3.35 per cent after the RBA’s comments last month suggested it was growing impatient with high inflation.

This increase represents a 63.8 per cent rise in repayments. At that time, the major banks were providing an average fixed rate of 1.92 per cent.

It should be noted that Australia’s biggest lender, Commonwealth Bank, is currently offering a one-year fixed rate of 5.99%.

Meanwhile, NAB has raised its variable rate for borrowers with a mortgage of less than 20% deposit by 0.2 percentage points to 6.44%.

Key Takeaways

• More than 4.7 million Australians are set to receive a boost in their fortnightly payments, starting March 20.
• Single pensioners, disability pensioners and carers will receive an extra $37.50 each fortnight, couples will enjoy an extra $56.40 and other welfare recipients will receive increases.
• The increase comes as part of twice-yearly indexation, to ensure that pensions and allowance payments remain aligned with inflation.
• The RBA is tipping a 10th consecutive rate rise. Major banks are offering fixed rates of up to 5.99%.

So, there you have it, folks! While many pensioners welcome this boost, we must be realistic and recognise that it's not a quick fix. As pensions grow, so does inflation and the cost of living.

This creates a vicious cycle where pensioners are forced to tighten their budgets even further just to keep up or find themselves falling behind.

What are your thoughts on these changes? Do you think the payment boosts offer enough relief for those who live on fixed incomes? Share your thoughts with us in the comments below.

As much as i appreciate the increase for my Pension I as many other seniors and pensioners live in Public Housing so they take 25% for rent and 25% for water . I invited Keven Rudd and the Minister for Social services at the to come to my home and we would have a Baked Dinner .I told him in the email i would open a tin of Bake Beans that is my Baked Dinner . I think the Government should stop sending so much money overseas and help the people of Australia first then we can help the othe countries . Government have no idea how hard it is to live they have the best of everything . I would gladly exchange there position for one week and they could live how we have to .What an eye opener that would be .

 

[DeeBee77]

As the cost of living continues to rise, many people are feeling the pinch. However, those living on fixed incomes, such as pensioners, are often hit the hardest.

With limited funds available, many struggle to make ends meet and afford necessities like food, housing, and healthcare.

For these individuals, any increase in their pension payments can be a welcome relief, providing them with some much-needed financial support.

If you’re one of those people who are looking forward to payment boosts, then we’ve got news for you!

More than 4.7 million Australians are set to receive a boost in their fortnightly payments, starting March 20, to keep up with the increasing cost of living.

View attachment 15005

A significant increase in the pension and allowance payments for more than 4.7 million Australians is expected to come into effect this month. Credit: Shutterstock.

Single pensioners, disability pensioners and carers will receive an extra $37.50 each fortnight and couples will now enjoy an extra $56.40 per fortnight. This boost brings their payments to $1,064 and $1,604 respectively.

Non-pensioners who rely on Centrelink payments will also get some relief. Here’s a breakdown:

• JobSeeker and ABSTUDY payments will increase by $24.70 bringing the fortnight payment to $701.90 for single recipients aged over 22 with no children.
• Parenting Payments will rise by $33.90 to $967.90 a fortnight for single parents.
• Commonwealth Rent Assistance will increase by $5.60 for singles, $6.58 for recipients with two children, and another $7.42 for families with three or more kids.

View attachment 15021

Credit: Seniors Discount Club.

The increase comes as part of the twice-yearly indexation, ensuring that pensions and allowance payments remain aligned with inflation

Surprisingly, the increase in pension payments has outpaced that of wages, with pensions rising at twice the rate of wages in recent months.

In September, pensions saw a significant increase of 4%, followed by another substantial hike of 3.7% in March.

In contrast, Australian wages rose by 3.3 per cent last year, which was the quickest pace in ten years. However, this increase was far below the inflation rate, which stood at 7.8 per cent - the highest since 1990.

Social Services Minister Amanda Rishworth said the good news will be a real ‘lift’ for those relying on welfare payments, who have felt the pinch of increasing prices on commodities.

She remarked: ‘Indexation is a pillar of our social security system and we want more money in the pockets of everyday Australians so they can better afford essentials.’

'Australia's social security system exists to support our most vulnerable citizens, and we know they are feeling the pinch.'

As exciting as this news is, we must accept that it’s not truly ‘rainbows and unicorns’. We still have to brace ourselves with the likelihood of double-digit mortgage hikes, with the RBA tipping a 10th consecutive rate rise on Tuesday.

The cash rate is expected to increase to 3.6 per cent from 3.35 per cent after the RBA’s comments last month suggested it was growing impatient with high inflation.

This increase represents a 63.8 per cent rise in repayments. At that time, the major banks were providing an average fixed rate of 1.92 per cent.

It should be noted that Australia’s biggest lender, Commonwealth Bank, is currently offering a one-year fixed rate of 5.99%.

Meanwhile, NAB has raised its variable rate for borrowers with a mortgage of less than 20% deposit by 0.2 percentage points to 6.44%.

Key Takeaways

• More than 4.7 million Australians are set to receive a boost in their fortnightly payments, starting March 20.
• Single pensioners, disability pensioners and carers will receive an extra $37.50 each fortnight, couples will enjoy an extra $56.40 and other welfare recipients will receive increases.
• The increase comes as part of twice-yearly indexation, to ensure that pensions and allowance payments remain aligned with inflation.
• The RBA is tipping a 10th consecutive rate rise. Major banks are offering fixed rates of up to 5.99%.

So, there you have it, folks! While many pensioners welcome this boost, we must be realistic and recognise that it's not a quick fix. As pensions grow, so does inflation and the cost of living.

This creates a vicious cycle where pensioners are forced to tighten their budgets even further just to keep up or find themselves falling behind.

What are your thoughts on these changes? Do you think the payment boosts offer enough relief for those who live on fixed incomes? Share your thoughts with us in the comments below.

Nice articles be even nicer if it is true, I for one do not believe it.

 

[Rosalie30]

Personally the increase won't help with the electricity rebate going down from 21% to 17% (announced today) food going up and my rent has increased by $60 a week this year $5.60 is not going to make any difference (next year I will be out on the streets) it would be more beneficial for the government to put a cap on rents but that would be too logical

Firstly, I can’t see the logic behind reducing the electricity rebate for pensioners, especially in light of the increase in prices. However… although capping rents sounds like plan, I suspect it would have a detrimental effect on the availability of rentals. If I owned a rental and was faced with increased mortgage rate, water and council rates, insurances and repairs, I’d be selling up if it was ‘against the law’ to increase rent to cover these additional costs. Less private rentals equals a bigger rental crisis. Having said this, I do feel for private renters with everything rising in price.

 

[siameezer]

Nice articles be even nicer if it is true, I for one do not believe it.

What don't you believe? This is the regular CPI increase we get every March and September.

 

[Ashmenou]

It is difficult ... I am in a private rental and it is very scary the way rents are skyrocketing.

Same here.

 

[Annie Mac]

One small po

As the cost of living continues to rise, many people are feeling the pinch. However, those living on fixed incomes, such as pensioners, are often hit the hardest.

With limited funds available, many struggle to make ends meet and afford necessities like food, housing, and healthcare.

For these individuals, any increase in their pension payments can be a welcome relief, providing them with some much-needed financial support.

If you’re one of those people who are looking forward to payment boosts, then we’ve got news for you!

More than 4.7 million Australians are set to receive a boost in their fortnightly payments, starting March 20, to keep up with the increasing cost of living.

View attachment 15005

A significant increase in the pension and allowance payments for more than 4.7 million Australians is expected to come into effect this month. Credit: Shutterstock.

Single pensioners, disability pensioners and carers will receive an extra $37.50 each fortnight and couples will now enjoy an extra $56.40 per fortnight. This boost brings their payments to $1,064 and $1,604 respectively.

Non-pensioners who rely on Centrelink payments will also get some relief. Here’s a breakdown:

• JobSeeker and ABSTUDY payments will increase by $24.70 bringing the fortnight payment to $701.90 for single recipients aged over 22 with no children.
• Parenting Payments will rise by $33.90 to $967.90 a fortnight for single parents.
• Commonwealth Rent Assistance will increase by $5.60 for singles, $6.58 for recipients with two children, and another $7.42 for families with three or more kids.

View attachment 15021

Credit: Seniors Discount Club.

The increase comes as part of the twice-yearly indexation, ensuring that pensions and allowance payments remain aligned with inflation

Surprisingly, the increase in pension payments has outpaced that of wages, with pensions rising at twice the rate of wages in recent months.

In September, pensions saw a significant increase of 4%, followed by another substantial hike of 3.7% in March.

In contrast, Australian wages rose by 3.3 per cent last year, which was the quickest pace in ten years. However, this increase was far below the inflation rate, which stood at 7.8 per cent - the highest since 1990.

Social Services Minister Amanda Rishworth said the good news will be a real ‘lift’ for those relying on welfare payments, who have felt the pinch of increasing prices on commodities.

She remarked: ‘Indexation is a pillar of our social security system and we want more money in the pockets of everyday Australians so they can better afford essentials.’

'Australia's social security system exists to support our most vulnerable citizens, and we know they are feeling the pinch.'

As exciting as this news is, we must accept that it’s not truly ‘rainbows and unicorns’. We still have to brace ourselves with the likelihood of double-digit mortgage hikes, with the RBA tipping a 10th consecutive rate rise on Tuesday.

The cash rate is expected to increase to 3.6 per cent from 3.35 per cent after the RBA’s comments last month suggested it was growing impatient with high inflation.

This increase represents a 63.8 per cent rise in repayments. At that time, the major banks were providing an average fixed rate of 1.92 per cent.

It should be noted that Australia’s biggest lender, Commonwealth Bank, is currently offering a one-year fixed rate of 5.99%.

Meanwhile, NAB has raised its variable rate for borrowers with a mortgage of less than 20% deposit by 0.2 percentage points to 6.44%.

Key Takeaways

• More than 4.7 million Australians are set to receive a boost in their fortnightly payments, starting March 20.
• Single pensioners, disability pensioners and carers will receive an extra $37.50 each fortnight, couples will enjoy an extra $56.40 and other welfare recipients will receive increases.
• The increase comes as part of twice-yearly indexation, to ensure that pensions and allowance payments remain aligned with inflation.
• The RBA is tipping a 10th consecutive rate rise. Major banks are offering fixed rates of up to 5.99%.

So, there you have it, folks! While many pensioners welcome this boost, we must be realistic and recognise that it's not a quick fix. As pensions grow, so does inflation and the cost of living.

This creates a vicious cycle where pensioners are forced to tighten their budgets even further just to keep up or find themselves falling behind.

What are your thoughts on these changes? Do you think the payment boosts offer enough relief for those who live on fixed incomes? Share your thoughts with us in the comments below.

int, if I may.You quote increases in fortnightly payments ,however the final amounts of $1604 for doubles, is the MONTHLY amount we will receive.

 

[ElizabethL]

A whole $37 a fortnight between my wife and I. Gosh, we’d better not spend it all at once!

Couples will receive $56.40 so there’s a bonus of $19.40 more than you thought you were going to receive