Pensioners to receive $20 per fortnight boost to their payments — here are all the details
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Some Centrelink recipients can expect an increase in their payments starting this Sunday, March 20.
Pensioners, including both the aged and disability support pension recipients, along with their carers, will receive a boost to their payments as the federal government seeks to cover rising inflation.
The boost means a $20.10 per fortnight increase for individuals to $987.60 and a $30.20 increase for couples combined at $1488.80.
Asset test limits will also receive a boost, allowing more Australians to access a part pension.
The move means the asset cap will rise by $6,750 to $599,750 for single homeowners, while a $10,000 boost to $901,500 for homeowner couples.
It was reported that almost five million people will benefit from the aforementioned payments.
However, Opposition Leader Anthony Albanese called out the government for being "out of touch", labelling the move as a "spin" to the situation.
“This government is so out of touch that they’re prepared to spin out there saying how well pensioners are going to be off,” he said.
“When they get to the supermarket to buy products they find that everything‘s gone up."
“The rise in the pension will not keep up with the costs of living. Pensioners are doing it really tough at the moment.”
Credit: YouTube/Sky News Australia
Meanwhile, Social Services Minister Anne Ruston described the boost in pension payments as "putting money in the pockets of all Australians who rely on our social security system”.
It was reported that other measures to alleviate the impacts of the post-pandemic economic recovery and the Ukraine-Russia conflict — which caused the tremendous hike in fuel prices — to the cost of living are being considered by the federal government.
Additionally, calls to increase the disability support pension by $100 per fortnight are being campaigned.
It was said that the current pension payments for disabled people are below the minimum wage of $1,545 per fortnight — in fact, even with the $100 increase, the total would only be $987.60, which is still way below the minimum.
Rent assist payments will also receive a “boost”, with singles getting an additional $3 per fortnight to $145.80, for families with up to two children an additional $3.50 to $171.50, and for families with three kids or more will receive an additional $3.92 to $193.62 next week. With increases so low, it’s hard to see how this is a “boost”.
The move was described as "putting money in the pockets of all Australians who rely on our social security system”. Credit: AAP/Julian Smith.
So, there you have it, folks! We encourage our members who are pensioners to check their accounts for additional funds.
In case you have received emails that are asking for your personal information so Centrelink can give you a refund or a boost, please check this article where we explained how scammers are using email accounts to disguise themselves as myGov employees and what you can do to avoid getting scammed.
Let us know in the comments below what you think about this new pension boost? Will it be enough at the rate in which the price of living is increasing?