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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I was just reading an article about how Anthony Albanese deserves another term, as he's (no mention of his party) done so well in his first term? In complete denial if all the rate rises, cost of living gas and electricity et all. He was born one and still is one GIVE ALBO --THE ELBOW, with dishonourable mentions BEEN CRAP, KNOWEN BOWEN, TWOT B4 WATT, and last but certainly not least PILES B4 GILES.
 
Anyone who falls for this crap deserve to be had
Cpi doesn't give you an increase it keeps you level
But in reality you will go further behind because as wages etc go up so do cost of things to cover the increases.
Tell me where does the CPI keep you level? As above the price of goods go up and insurances etc. go up more!!
 
Once again it appears that its the same people that complain about receiving any increase in benefits and wouldn't be happy if the pension doubled. How would you survive in a country with no benefits you are lucky Australians be greatful for what us pensioners receive.
clarry
 
I can't see any increase for the the Carer Allowance. I'm a carer for my wife, and it is hard work helping her. We are both 82. By the time I clean up after our evening meal, I'm just about exhausted. Surely the government those of us who have to do that extra bit everyday. As an aged pensioner, I'm not entitled to the Carer Supplement
 
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.

Luv the governments commitment to make businesses big and small bear the brunt of paying this. It just runs small businesses into the ground and increases costs. Why does an employer have to pay twice for wages - to someone to have a baby and then another to fill the position. AND super on top of that.

Pensions needs to have a real increase, not just to keep it on level pegging.
 
CPI increases are only calculated after the fact. Occasional CPI increases do not address the issue for the Aged and Disability Pensioners. CPI increases ensure that the more your getting the more you'll get. Pensioners who get less in the first place will get less in return. This Government borrows money to give to other countries to make itself look good at the expense of its' own citizens. I want a Government who is into looking after the economy and business, and it's people are the one's who will benefit.
 
I think, from reading some of these posts, that people in Australia are expecting the government to fund their retirement in its entirety. Yes, there are the really, really needy but when we were all earning a wage we should have been saving as well, saving for the time we wouldn’t get a wage. Where does everyone think the government is going to get unlimited money from - they do not just print bank notes to hand out .

I’m sure, and believe me I mean that in all sincerity, there are many suffering as a result of having no money but the ‘Australian Bank’ (like the bank of mum and dad) does not have unlimited access to keep giving out as much as we want, want, want. There are the needy ones who, through no fault of their own, genuinely must have funds AND there are the lazy young who drink and smoke away their wages and expect the government to pay up and smile while they sit on their backsides and expect everything to be given to them. A lot is given to unnecessary ‘causes’ by every government not just this Labor government.

I’ve finished ranting so if you want you can have a go at me, if you like. It won’t bother me.
 
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What about commonwealth senior card holders nothing mentioned about them after all we all paid our taxes right through out our working life and getting nothing in return from the GOVERNMENT
 
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I wonder where all this 'cost of living hand-out money is coming from', and how do we balance the budget when it all stops. It doesn't help, it only goes to show how poorly our pollies perform in running this Country. Whatever party is elected at the next election is going to inherit a HUGE deficient in the budget. The current treasurer has already stated that there will be 'cuts' in other areas. I have two sons in the Army and already there is 'talk/preparations' of promised new equipment not 'going to happen.' Public servants in the Defense Dept., who hold and manage the Defense Budget/Tendering/Supply/Purchasing etc: tendered and gave a contract to a Chinese company to supply Battle Dress uniforms (camouflage), including webbing for the Army. The order in the amount of $3 million dollars. They arrived, after being checked and issued to the Units. When inspected they were found to be the wrong camouflage pattern/design, the webbing fell apart when a loose thread was pulled and totally useless. The items were recalled and were never seen again. It was later discovered that they were all destroyed. No one was held to account for the waste of money, failure to check the items were made to spec., they couldn't be sold to other countries as the 'pattern' did not match..... No inquiries were made public, not a mention was made in any of the papers and the Units needing the equipment were not re-supplied. Just and insight how Gov. and the Public Service handle public monies, waste it and cover it up. So it looks like Albo is going to do the same, strip our Defense to 'hand-out' money to just make him look good to voters.
So if he is voted back in, don't complain/whinge, start learning chinese, put up with the importation of more inferior products including less producing here and realise that China has be recognised as the main threat to Countries in the South Pacific region both through ecconomic bullying and militarily.
 
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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.
 
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..
I believe the Government thinks the pensioners don't know how to think or work their pension money out and that we are dumb. we are not dumb we know what we get and it's a joke the government is laughing at us.
 
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Really .. there shouldn't be a single versus couple pension and singles should get the same rate as a couple ... if I turn the light on in a room whether one person is in the room ..two or fifty ..I'm still paying the same electricity bill ... same goes for water rates ..heating..insurances... council rates...running a car ...etc etc. If I can afford to go away for a few days.. I pay the same rate as a couple even though I'm single ... because damm you if your single.. divorced ..widowed.. you pay just like your a couple.
I won't even get started on groceries .. personal hygiene products..
Wake up and smell the roses ... because single pensioners certainly have ... singles are greatly disadvantaged in society...young or old.. particularly the elderly.
 
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Really .. there shouldn't be a single versus couple pension and singles should get the same rate as a couple ... if I turn the light on in a room whether one person is in the room ..two or fifty ..I'm still paying the same electricity bill ... same goes for water rates ..heating..insurances... council rates...running a car ...etc etc. If I can afford to go away for a few days.. I pay the same rate as a couple even though I'm single ... because damm you if your single.. divorced ..widowed.. you pay just like your a couple.
I won't even get started on groceries .. personal hygiene products..
Wake up and smell the roses ... because single pensioners certainly have ... singles are greatly disadvantaged in society...young or old.. particularly the elderly.
You're too logical for their pea brains to understand!!!:ROFLMAO::ROFLMAO::ROFLMAO:
 
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i see an increase of over $11 for children over 13 and yet pensioners only received $9.60 in there last pension increase
I SEE lowest paid workers getting a $56 dollar a week increase with a pay rise and tax cuts and NOTHING EXTRA FOR PENSIONERS
IF THE LOWEST PAID WORKERS NEED A $56 per week payrise due to inflation then how much would pensioners need to catch up to the lowest paid workers EVEN CHILDREN ARE GETTING BIGGER BENEFITS THAN THOSE PEOPLE WHO WORKED ALL THERE LIVES AND BUILT THIS COUNTRY
 
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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
SINGLE PEOPLE ON THE OLD AGE PENSION RECEIVED $9.60 last pension incresase plus have to pay an extra $200 for electricity than last year
 
Just received letter from ENGIE power company to let me know that my electricity will be costing about $0.34 per dollar more. this is on top of the already more than 100% increase . Thanks ALBO you really know how to fuck up a country.
 
i see an increase of over $11 for children over 13 and yet pensioners only received $9.60 in there last pension increase
I SEE lowest paid workers getting a $56 dollar a week increase with a pay rise and tax cuts and NOTHING EXTRA FOR PENSIONERS
IF THE LOWEST PAID WORKERS NEED A $56 per week payrise due to inflation then how much would pensioners need to catch up to the lowest paid workers EVEN CHILDREN ARE GETTING BIGGER BENEFITS THAN THOSE PEOPLE WHO WORKED ALL THERE LIVES AND BUILT THIS COUNTRY
Remember..... they want to get rid of us..... exterminate us, People with kids will provide workers who they can tax, and pensioners COST the government money for no return on investment.....well have I got news for them....
 

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