Pensioners to get cash boost in upcoming July indexation

As we get closer to July, Australian families and pensioners can look forward to a little extra financial breathing room. With the cost of living on the rise, the government's indexation of various payments is a welcome relief for over two million Australians.

From July 1, a range of government payments will see an increase, providing a much-needed boost to those who rely on this support.



The indexation process is an annual adjustment that ensures government payments keep pace with inflation.

This year, it's set to benefit a wide array of recipients, including families on the Family Tax Benefit, Newborn Supplement, and Multiple Birth Allowance, as well as pensioners on the Age Pension, Disability Support Pension, and Carer Payment.


compressed-senior-couple-analyzing-their-savings-while-going-through-home-finances.jpeg
Over two million Aussies will get a boost on their government payments this July. Image source: Freepik



For families, the numbers are looking up. Those receiving Family Tax Benefit Part A will see the maximum rate for children under 13 years old rise by $8.68 to $222.04 every fortnight.

For children aged 13 and over, the increase is even more substantial, with an $11.34 bump up to $288.82 per fortnight.

Family Tax Benefit Part B recipients aren't left out either; families with the youngest child under five years old will see their payments increase by $7.42 to $188.86 a fortnight, and those with children five years or older will receive an additional $5.18, bringing the maximum to $131.74 a fortnight.



But it's not just the fortnightly payments that are getting a lift. The end-of-year supplements for both Family Tax Benefit Part A and Part B will also see a rise, with increases of $36.50 and $18.25, respectively, bringing them to $916.15 and $448.95.

This is a significant boost that will help families manage the ever-increasing costs associated with raising children.

Pensioners will also feel the positive impact of indexation, with increases in income and asset thresholds allowing more individuals to qualify for or receive higher payments. This is crucial for those on fixed incomes, who are often hit the hardest by inflation.

Budget documents stated that 876,000 income support recipients, including 450,000 aged pensioners, would benefit from the decision.

In addition to these changes, Paid Parental Leave is set to increase, aligning with the government's commitment to pay superannuation on Paid Parental Leave from 2025 and to expand leave to 26 weeks by 2026.



The indexation of payments is part of a broader government strategy to tackle the cost of living crisis, which was a major focus of last month's Budget.

With a $7.8 billion commitment to cost-of-living relief, including a 10 per cent boost to Rent Assistance and the inclusion of superannuation in Paid Parental Leave, the government is taking concrete steps to support Australians through these challenging economic times.

Minister for Social Services Amanda Rishworth emphasised the importance of indexation, stating: ‘These increases will provide a direct boost to fortnightly payments for families.’

For those eager to see the full extent of the changes, the complete list of payments increasing on July 1, including detailed income and asset limits, can be found on the Department of Social Services website.

It's a good idea to review these changes to understand exactly how they may affect your individual circumstances.
Key Takeaways
  • Over 2 million Australians will receive an increase in government payments due to indexation from July 1.
  • Families, pensioners, and those on certain social security benefits will see a boost in their fortnightly payments.
  • The increase comes as part of the government's commitment to assist with the cost of living and inflation pressures.
  • Key benefits affected include the Family Tax Benefit, Age Pension, Disability Support Pension, and Carer Payment are also set to increase.
As we all navigate the complexities of the economy, it's heartening to see measures in place that help ease the burden on families and pensioners.

So, come July, keep an eye on your payments, and remember that every little bit helps when it comes to managing the household budget.

What are your thoughts on these upcoming changes, members? Share them in the comments below!
 
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What on earth was there in that article to make pensioners feel happy??? 10% increase in rent relief? Great! Payments indexed to the CPI so that has little to do with our ACTUAL cost of living increases. It is never enough. All those increases were for people working and already earning money and for taking time off to have a baby! Once again this Labor Govt. has a lot to answer for as far as pensioners and unemployed are concerned. Amanda Rishworth is the worst!
 
What on earth was there in that article to make pensioners feel happy??? 10% increase in rent relief? Great! Payments indexed to the CPI so that has little to do with our ACTUAL cost of living increases. It is never enough. All those increases were for people working and already earning money and for taking time off to have a baby! Once again this Labor Govt. has a lot to answer for as far as pensioners and unemployed are concerned. Amanda Rishworth is the worst!
 
PENSIONERS RECEIVED A QUARTER OF WHAT THE MINIMUM AMOUNT OF TAX RELIEF THAT ALL WORKERS GET AND PROBABLY DESERVE AND THE RICH EVEN MORE THAN WORKERS
PENSIONERS GOT A $482 increase for the year based on a false CPI AND THAT IS A LIE
%1.8 is what pensioners received which is equal to $9 a week
MEANWHILE WORKERS A MINimun OF $30 a week and if there is 2 working in the household that equates to $60 a week
BIG DIFFERENCE TO PENSIONS $9 week
IS their ever going to o be a truthfull indexation increase because i have never seen one and yet the govt rewards all workers and themselves a huge pay rise amounting to at least $
 
What on earth was there in that article to make pensioners feel happy??? 10% increase in rent relief? Great! Payments indexed to the CPI so that has little to do with our ACTUAL cost of living increases. It is never enough. All those increases were for people working and already earning money and for taking time off to have a baby! Once again this Labor Govt. has a lot to answer for as far as pensioners and unemployed are concerned. Amanda Rishworth is the
 
The albanese govt has no idea about the realities of living on a pension..it's a standing joke surely..but there's no funny side. As for rent increase lol..it's increased to 440 per week we moved in 3 years ago at $360.00 a week???? Funny funny funny..not..the rent increase alone is a joke..but I'm still not laughing..this situation with rents is becoming our biggest problem ever..and I can't move because of a lack of housing??????????sick of their pandering and wasting money on stupid issues like vapes that will eventually just be the same as booze and cigarettes but they keep bringing the subject up and wasting money on a fluff problem..get real mate..like that stupid polly that tried to live on a pension amount for a week..hilarious he had free transport..free food..free everything..wish I could remember the idiots name..so no none of them have the faintest idea what it's really like.. yeh there's increases but do they really have a major impact money wise..no...in saying this I also realise that each one of us has different concerns and issues..that need to be met..
 
Hi there.. where does it say pensioners get an increase? The minimum wage has just increased by just over $31.00 a week on top of their tax reductions coming in July. And a couple on the pension gets $29.40/ fortnight..These facts don’t add up even if it was going to happen as this is only $14.70;a week per person compared to $31.00 week for someone on the minimum wage ( which the government has said is below the poverty line). So whoever put up the post about being a good thing for pensioners ( considering another cpi increase in September) is ill informed..Let the politicians try and live on the pension for a couple of weeks let alone a retirement.
 
i looked it up again and cannot see anything going up for single pensioners however i have read that MARCHES indexation went up $19.20
where in the article does it state single pensioners are getting a increase in JULY
I will believe it when i see it
Even if we do get a further increase it will only bring us up to the current CPI so therefore it should be backdated to MARCH INDEXATION
 
HELLO, WAKEY WAKEY Why on earth don't you people do as suggested and go to the website and READ.
The aged pension will increase
on the 1st July, along with carer and disability pensions by $19.60/ft for singles and $29.40 for couples. Not too bad considering we will get another one in September.
I am on aged pension and my wife isn't therefore I get half of what couples get i.e $14.70 per fortnight.
 
HELLO, WAKEY WAKEY Why on earth don't you people do as suggested and go to the website and READ.
The aged pension will increase
on the 1st July, along with carer and disability pensions by $19.60/ft for singles and $29.40 for couples. Not too bad considering we will get another one in September.
Well, I've looked at the website and READ it, and I'm b******d If I can find anything that says $19.60 for single and $29.40 for couples. ???
Found changes for people who are still working part time and for those who have so much $$$ in assets that they only qualify for a part-pension. But I can't find nothing about people who are on a full pension !
 
Hi there.. where does it say pensioners get an increase? The minimum wage has just increased by just over $31.00 a week on top of their tax reductions coming in July. And a couple on the pension gets $29.40/ fortnight..These facts don’t add up even if it was going to happen as this is only $14.70;a week per person compared to $31.00 week for someone on the minimum wage ( which the government has said is below the poverty line). So whoever put up the post about being a good thing for pensioners ( considering another cpi increase in September) is ill informed..Let the politicians try and live on the pension for a couple of weeks let alone a retirement.
 
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Hi there.. where does it say pensioners get an increase? The minimum wage has just increased by just over $31.00 a week on top of their tax reductions coming in July. And a couple on the pension gets $29.40/ fortnight..These facts don’t add up even if it was going to happen as this is only $14.70;a week per person compared to $31.00 week for someone on the minimum wage ( which the government has said is below the poverty line). So whoever put up the post about being a good thing for pensioners ( considering another cpi increase in September) is ill informed..Let the politicians try and live on the pension for a couple of weeks let alone a retirement.
i got a message that states you are angry with my comment and yet you say the same thing as me virtually
i cannot find anything which states pensioners the disabled and carers are getting anything
MYLITTLETIBBIES MUST BE LOOKING AT A DIFFERENT SITE
 
i got a message that states you are angry with my comment and yet you say the same thing as me virtually
i cannot find anything which states pensioners the disabled and carers are getting anything
MYLITTLETIBBIES MUST BE LOOKING AT A DIFFERENT SITE
I think MY LITTLE TIBBIES must be telling him PORKY'S !!!
 

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