Pensions are an important part of many people's retirement planning, and it's crucial that they keep up with inflation.

Unfortunately, pensioners have been feeling the pinch in recent years, as the cost of living continues to skyrocket.

In a recent speech, Treasurer Jim Chalmers assured the public that the federal government is determined to make sure that pensioners don't fall further behind as inflation rises.

With inflation currently at 5.1% and forecasted to rise by the end of the year, Mr Chalmers said that a half-yearly indexation increase for pensions is slated to take effect on September 20.

It should be noted that age pension rates increased in March by $20.10, to $987.60 each fortnight — or $25,677.60 annually — for single pensioners, while the joint maximum rate for elderly couples rose by $30.20, to $1488.80 per week or $38,708 per year.

Mr Chalmers promised to provide an update on the government's projections for inflation, growth, and salaries when the new parliament session commences in late July.

The Treasurer said that the federal government will discuss the possible increase in pension payments once the new parliament session commences in late July. Credit: AAP.​

He said: “The shape of the challenge to inflation will get worse before it gets better but it will get better."

“We understand that pensioners are doing it incredibly tough when it comes to their costs of essentials like groceries, electricity and petrol and in other parts of the household budget."

“We don’t want to see pensioners fall further and further behind. And that’s why this indexation which tries to keep up with the skyrocketing cost of living is so important.”

Additionally, economists are expected to keep an eye on important data to see if Australia's construction activity has fallen further once key figures are released.

The Australian Bureau of Statistics is set to release the construction activity report for the March quarter on Wednesday. It will include estimates of the number of new homes and "work yet to be done."

The figures for the first quarter of 2022 is expected to be impacted by a decline in the industry at the end of 2021, with the number of new private sector homes being built decreased by little more than 10%, while the overall number of housing unit commencements declined by 13.5% in the December quarter.

All in all, the total cost of construction work decreased by 1.6% to $30.3 billion.

This week will also see the release of employment statistics, with most experts predicting that the unemployment rate will drop from 3.9% to 3.8% — its lowest level since 1974.

So, there you have it, folks! We want to hear your thoughts on this. Do you think it's time for the federal government to prioritise the increase of pension payments in its budget agenda? Share your insights with us in the comments below.

 

[Lorraine Rea]

Pensions are an important part of many people's retirement planning, and it's crucial that they keep up with inflation.

Unfortunately, pensioners have been feeling the pinch in recent years, as the cost of living continues to skyrocket.

In a recent speech, Treasurer Jim Chalmers assured the public that the federal government is determined to make sure that pensioners don't fall further behind as inflation rises.

With inflation currently at 5.1% and forecasted to rise by the end of the year, Mr Chalmers said that a half-yearly indexation increase for pensions is slated to take effect on September 20.

It should be noted that age pension rates increased in March by $20.10, to $987.60 each fortnight — or $25,677.60 annually — for single pensioners, while the joint maximum rate for elderly couples rose by $30.20, to $1488.80 per week or $38,708 per year.

Mr Chalmers promised to provide an update on the government's projections for inflation, growth, and salaries when the new parliament session commences in late July.

The Treasurer said that the federal government will discuss the possible increase in pension payments once the new parliament session commences in late July. Credit: AAP.​

He said: “The shape of the challenge to inflation will get worse before it gets better but it will get better."

“We understand that pensioners are doing it incredibly tough when it comes to their costs of essentials like groceries, electricity and petrol and in other parts of the household budget."

“We don’t want to see pensioners fall further and further behind. And that’s why this indexation which tries to keep up with the skyrocketing cost of living is so important.”

Additionally, economists are expected to keep an eye on important data to see if Australia's construction activity has fallen further once key figures are released.

The Australian Bureau of Statistics is set to release the construction activity report for the March quarter on Wednesday. It will include estimates of the number of new homes and "work yet to be done."

The figures for the first quarter of 2022 is expected to be impacted by a decline in the industry at the end of 2021, with the number of new private sector homes being built decreased by little more than 10%, while the overall number of housing unit commencements declined by 13.5% in the December quarter.

All in all, the total cost of construction work decreased by 1.6% to $30.3 billion.

This week will also see the release of employment statistics, with most experts predicting that the unemployment rate will drop from 3.9% to 3.8% — its lowest level since 1974.

So, there you have it, folks! We want to hear your thoughts on this. Do you think it's time for the federal government to prioritise the increase of pension payments in its budget agenda? Share your insights with us in the comments below.

Mistake I think in that single pensioners get 987.60 per fortnight whilst couples get 1488,80 per week.

 

[veronicasaunders@bigpond.]

I'm also a pensioner and too find it hard on the current pension... I also have a lot of friends that are pensioners and the ones that complain the loudest are the ones that smoke.... Most of them have been smoking for most of their life and struggle to give up! When the government gave us an increase, I was so greatful, even though the amount of $20.10 wasn't all that much it's better than nothing. Looking forward to next increase... BUT the government DOES NOT give us an increase to cover the cost of smoking... I tell my friends their struggling because they smoke! So stop whinging! I smoked for over 50 years once I retired nearly all my pension went on smokes...I was not paying my bills and had no choice but to give up... It was dam hard but I had no choice. So smokers to live a better life ring Quit Line do everything you can to stop! Don't expect the Government to support it...

 

[tomtom]

Like many of our fellow seniors on this site - we too would love an increase to alleviate all the increases being applied across the board, sadly, most companies are taking us for fools with the increases. As an example, when did cows get offered better grazing rights to justify the exorbitant price rise in milk? Will the Government ensure we get a fair share of the increase and not the robbing owners of Lifestyle villages? We are a country now obsessed with making money at any cost - to hell with those battling after years of work and paying taxes. Come on unions - manufacturers - petrol suppliers - electricity/gas suppliers, get your acts together - help others as well as yourselves.

 

[Yvonne C.]

I'll believe it when I see it in my bank account!

 

[kjay2010]

I can’t see where we are getting anything other than the $20 we got in March, which doesn’t go anywhere near to helping us

dont be ungreatfull it all helps

 

[Januvia1952]

Pensions are an important part of many people's retirement planning, and it's crucial that they keep up with inflation.

Unfortunately, pensioners have been feeling the pinch in recent years, as the cost of living continues to skyrocket.

In a recent speech, Treasurer Jim Chalmers assured the public that the federal government is determined to make sure that pensioners don't fall further behind as inflation rises.

With inflation currently at 5.1% and forecasted to rise by the end of the year, Mr Chalmers said that a half-yearly indexation increase for pensions is slated to take effect on September 20.

It should be noted that age pension rates increased in March by $20.10, to $987.60 each fortnight — or $25,677.60 annually — for single pensioners, while the joint maximum rate for elderly couples rose by $30.20, to $1488.80 per week or $38,708 per year.

Mr Chalmers promised to provide an update on the government's projections for inflation, growth, and salaries when the new parliament session commences in late July.

The Treasurer said that the federal government will discuss the possible increase in pension payments once the new parliament session commences in late July. Credit: AAP.​

He said: “The shape of the challenge to inflation will get worse before it gets better but it will get better."

“We understand that pensioners are doing it incredibly tough when it comes to their costs of essentials like groceries, electricity and petrol and in other parts of the household budget."

“We don’t want to see pensioners fall further and further behind. And that’s why this indexation which tries to keep up with the skyrocketing cost of living is so important.”

Additionally, economists are expected to keep an eye on important data to see if Australia's construction activity has fallen further once key figures are released.

The Australian Bureau of Statistics is set to release the construction activity report for the March quarter on Wednesday. It will include estimates of the number of new homes and "work yet to be done."

The figures for the first quarter of 2022 is expected to be impacted by a decline in the industry at the end of 2021, with the number of new private sector homes being built decreased by little more than 10%, while the overall number of housing unit commencements declined by 13.5% in the December quarter.

All in all, the total cost of construction work decreased by 1.6% to $30.3 billion.

This week will also see the release of employment statistics, with most experts predicting that the unemployment rate will drop from 3.9% to 3.8% — its lowest level since 1974.

So, there you have it, folks! We want to hear your thoughts on this. Do you think it's time for the federal government to prioritise the increase of pension payments in its budget agenda? Share your insights with us in the comments below.

The pension is paid wrong. I get $744 a fortnight. Couple. But single pension is $1300 ! They expect married couples to live on a lesser amount.!

 

[thomas]

Pensions are an important part of many people's retirement planning, and it's crucial that they keep up with inflation.

Unfortunately, pensioners have been feeling the pinch in recent years, as the cost of living continues to skyrocket.

In a recent speech, Treasurer Jim Chalmers assured the public that the federal government is determined to make sure that pensioners don't fall further behind as inflation rises.

With inflation currently at 5.1% and forecasted to rise by the end of the year, Mr Chalmers said that a half-yearly indexation increase for pensions is slated to take effect on September 20.

It should be noted that age pension rates increased in March by $20.10, to $987.60 each fortnight — or $25,677.60 annually — for single pensioners, while the joint maximum rate for elderly couples rose by $30.20, to $1488.80 per week or $38,708 per year.

Mr Chalmers promised to provide an update on the government's projections for inflation, growth, and salaries when the new parliament session commences in late July.

The Treasurer said that the federal government will discuss the possible increase in pension payments once the new parliament session commences in late July. Credit: AAP.​

He said: “The shape of the challenge to inflation will get worse before it gets better but it will get better."

“We understand that pensioners are doing it incredibly tough when it comes to their costs of essentials like groceries, electricity and petrol and in other parts of the household budget."

“We don’t want to see pensioners fall further and further behind. And that’s why this indexation which tries to keep up with the skyrocketing cost of living is so important.”

Additionally, economists are expected to keep an eye on important data to see if Australia's construction activity has fallen further once key figures are released.

The Australian Bureau of Statistics is set to release the construction activity report for the March quarter on Wednesday. It will include estimates of the number of new homes and "work yet to be done."

The figures for the first quarter of 2022 is expected to be impacted by a decline in the industry at the end of 2021, with the number of new private sector homes being built decreased by little more than 10%, while the overall number of housing unit commencements declined by 13.5% in the December quarter.

All in all, the total cost of construction work decreased by 1.6% to $30.3 billion.

This week will also see the release of employment statistics, with most experts predicting that the unemployment rate will drop from 3.9% to 3.8% — its lowest level since 1974.

So, there you have it, folks! We want to hear your thoughts on this. Do you think it's time for the federal government to prioritise the increase of pension payments in its budget agenda? Share your insights with us in the comments below.

I am 80 but I cant comment much on this as I don't get a pension, but to be honest I can't see why pensioners have to scrape by on what they get when the "minimum wage" is so much higher, wouldn't it be fair to give the pensioners "a fair suck of the sausage" if it takes the "minimum wage" to be able to (so-called) live then how can you expect the pensioner to live on so much less?

 

[thomas]

The pension is paid wrong. I get $744 a fortnight. Couple. But single pension is $1300 ! They expect married couples to live on a lesser amount.!

don't know where you get you figures from but I know my friend gets almost $1000 a fortnight pension single but it would be more like $1500 if a couple. this is below the 26th parallel, and used to get over $1000 a fortnight when in the Pilbara and of course the couple's pension was higher too (around $2000)

 

[Shlbvn]

Couples do it tough as we only get one and a half times what a single gets when any increase to the pension. Those that own their own homes also do it tough having to pay rates, maintenance on homes etc. All pensioners should get paid what the minimum weekly wage is per week then it would bring us out of poverty. I am not holding my breath for a decent rise in our pension in September, it will never happen.

 

[nannyrose]

Pensions are an important part of many people's retirement planning, and it's crucial that they keep up with inflation.

Unfortunately, pensioners have been feeling the pinch in recent years, as the cost of living continues to skyrocket.

In a recent speech, Treasurer Jim Chalmers assured the public that the federal government is determined to make sure that pensioners don't fall further behind as inflation rises.

With inflation currently at 5.1% and forecasted to rise by the end of the year, Mr Chalmers said that a half-yearly indexation increase for pensions is slated to take effect on September 20.

It should be noted that age pension rates increased in March by $20.10, to $987.60 each fortnight — or $25,677.60 annually — for single pensioners, while the joint maximum rate for elderly couples rose by $30.20, to $1488.80 per week or $38,708 per year.

Mr Chalmers promised to provide an update on the government's projections for inflation, growth, and salaries when the new parliament session commences in late July.

The Treasurer said that the federal government will discuss the possible increase in pension payments once the new parliament session commences in late July. Credit: AAP.​

He said: “The shape of the challenge to inflation will get worse before it gets better but it will get better."

“We understand that pensioners are doing it incredibly tough when it comes to their costs of essentials like groceries, electricity and petrol and in other parts of the household budget."

“We don’t want to see pensioners fall further and further behind. And that’s why this indexation which tries to keep up with the skyrocketing cost of living is so important.”

Additionally, economists are expected to keep an eye on important data to see if Australia's construction activity has fallen further once key figures are released.

The Australian Bureau of Statistics is set to release the construction activity report for the March quarter on Wednesday. It will include estimates of the number of new homes and "work yet to be done."

The figures for the first quarter of 2022 is expected to be impacted by a decline in the industry at the end of 2021, with the number of new private sector homes being built decreased by little more than 10%, while the overall number of housing unit commencements declined by 13.5% in the December quarter.

All in all, the total cost of construction work decreased by 1.6% to $30.3 billion.

This week will also see the release of employment statistics, with most experts predicting that the unemployment rate will drop from 3.9% to 3.8% — its lowest level since 1974.

So, there you have it, folks! We want to hear your thoughts on this. Do you think it's time for the federal government to prioritise the increase of pension payments in its budget agenda? Share your insights with us in the comments below.

As a single pensioner I agree that times are indeed tough. Tougher though when you have to help support your children when they are in need. Recently my son had a mental breakdown and moved back in with me. He is getting better but with no income he has been totally reliant on me for food,and basic living. I cannot access any form of emergency payments to help cover this. What savings I had have gone and now I am totally reliant on the pension. His Centrelink payments should start soon which will make life easier but a good look at inflation would be a welcome change.We can then keep up with changes instead of pulling the belt tighter.

 

[nannyrose]

Pensions have been the bone of contention since they appeared on the scene. It will never suit everyone because we are all different. People are secretive to their needs & what they do with their money. One should never criticise another if they do not know real facts. Some have life so much harder but if the truth be known many refuse to admit themselves wrong. Just an honest bye the bye: I sat in on a conversation that blew me away. A few years back I used to allocate $5 to play the pokies. Never did I go over. , the reason being I've worked in all areas of gambling because I've always loved figures. You see it all, so you put strict rules upon yourself. You're there for a reason to save money for something so you're not going to gamble it away. I called in to where I used to go to spend my $5 to watch tennis on their big screen & bought fish & chips cheap for a bite of lunch. I sat in on a conversation of 4 elderly ladies running down the pension & how they are not making ends meet. It was disgusting. To each his own readers, I stayed on to see one particular woman who had been loose with her language feeding fifty dollar bills into one particular machine. I was SO mesmerised that I went & made an extra coffee for myself. There was no way I'd leave until I learnt the outcome. I've never been a sticky beak, true, but these 4 ladies were off their faces over their pensions, blaming anything that came into their heads, yet pouring 50 dollar bills into their machines. Well, none of them won big but one. She got her money back. On their way out they started moaning again. Look everyone, I am no wowser, I've lived & loved, I've done it all, BUT if you are to blame for anything , DON'T BLAME ANYONE ELSE FOR YOUR STUPIDITY. Have I won in the past with my FIVE dollars weekly? You bet I have. A little ps from me. The moment we get a rise, some other thing swallows it. We are all so familiar with that. My gripe is the Body Corporate paid quarterly. I don't think any one gets a fair go in this area, but, that's another story where downsizing is not always practical.

I agree with you about body corporate. I recently looked at downsizing to a50+ village and the body corporate fees were nearly half the single pension per fortnight. Consequently I did not downsize and now have to make do with the lawn not mowed as frequently as I would like and maintenance on the list of things to do. After the pension is straightened out perhaps the government should look into these types of downsizing options and set some guidelines for body corporate and other ongoing fees.

 

[John Trundell]

I read somewhere that depending on the inflation figure they were talking about a $42p/f increase. I can't see it being that high as we are so much in debt. I don't intend to hold my breath to see it as I'm sure I'll be disappointed. Anything will be gratefully received.

If they are true to their word they Will increase the Aged pension $100 as we have never received a rise in line with inflation in the last 17 years that I can remember, if their is insufficient funds then they should stop giving away our money to overseas countries

 

[Lizzy]

Pensions are an important part of many people's retirement planning, and it's crucial that they keep up with inflation.

Unfortunately, pensioners have been feeling the pinch in recent years, as the cost of living continues to skyrocket.

In a recent speech, Treasurer Jim Chalmers assured the public that the federal government is determined to make sure that pensioners don't fall further behind as inflation rises.

With inflation currently at 5.1% and forecasted to rise by the end of the year, Mr Chalmers said that a half-yearly indexation increase for pensions is slated to take effect on September 20.

It should be noted that age pension rates increased in March by $20.10, to $987.60 each fortnight — or $25,677.60 annually — for single pensioners, while the joint maximum rate for elderly couples rose by $30.20, to $1488.80 per week or $38,708 per year.

Mr Chalmers promised to provide an update on the government's projections for inflation, growth, and salaries when the new parliament session commences in late July.

The Treasurer said that the federal government will discuss the possible increase in pension payments once the new parliament session commences in late July. Credit: AAP.​

He said: “The shape of the challenge to inflation will get worse before it gets better but it will get better."

“We understand that pensioners are doing it incredibly tough when it comes to their costs of essentials like groceries, electricity and petrol and in other parts of the household budget."

“We don’t want to see pensioners fall further and further behind. And that’s why this indexation which tries to keep up with the skyrocketing cost of living is so important.”

Additionally, economists are expected to keep an eye on important data to see if Australia's construction activity has fallen further once key figures are released.

The Australian Bureau of Statistics is set to release the construction activity report for the March quarter on Wednesday. It will include estimates of the number of new homes and "work yet to be done."

The figures for the first quarter of 2022 is expected to be impacted by a decline in the industry at the end of 2021, with the number of new private sector homes being built decreased by little more than 10%, while the overall number of housing unit commencements declined by 13.5% in the December quarter.

All in all, the total cost of construction work decreased by 1.6% to $30.3 billion.

This week will also see the release of employment statistics, with most experts predicting that the unemployment rate will drop from 3.9% to 3.8% — its lowest level since 1974.

So, there you have it, folks! We want to hear your thoughts on this. Do you think it's time for the federal government to prioritise the increase of pension payments in its budget agenda? Share your insights with us in the comments below.

Well it would certainly help to push inflation along, there needs to be better solutions rather than keep just upping the wages. Fixing power problems would be a good start. Nobody can do anything without a good energy supply and a reasonable rate. Should be number one priority.

 

[donellefeltham@ gmail.com]

I’m fortunate enough to have a lovely state housing Villa. I have lived here for 14 years and I have lost count of the many times I’ve tried to get answers to this. Once upon a time we only had to pay rent on our Basic Pension’s not our Utilities or Pension Supplements. Then about 10 years ago we got a letter to say, our rent would go up to include our supplements. So there went $20, every time we get a pay rise, we lose 25% percent of it . I should say also the LNP were in office and they seem to think we have heap’s of Super to keep use, NO we don’t because if we did we would not have qualified for Government Housing. I have been trying to get answers from anyone as to why they are taking 25% out of our supplements. Out of the $20.20 rise we got earlier this year the government took back $5.05 in rent. They say the extra rent we pay goes to maintenance of our home. What maintenance , if something goes wrong and they say will fix it it but it can take up too a year to get the problem even looked at. It just seems to me and a lot of people who are in the same boat as me are thinking the same and that’s what the Government gives you in 1 hand it takes 25% back before we even get it.

 

[Esma Rose]

Well, I have MADE time today reading the many interesting answers from MANY intelligent & sensible people. Quite frankly I am so proud of everyone who has put their six penneth worth of knowledge into the ring. I think I am a smart cat too. My positive vibes are telling me the Gov't WILL do the right thing after even only one of them condescends to read "Our Clubs" sentiments ..We need $100 a fortnights kick up to even straighten out the rise of groceries BEFORE we get our pensions paid. THEY could even consider $100 a WEEK if they were not such an easy catch giving overseas help. Australians first & always AND it is not being selfish. Charity starts AT HOME. ALWAYS. xx

 

[alyn6652]

I profoundly support the Aged Pension. It was introduced by the Protectionist Party in 1908 with the support of the Labour Party. I detect their are some Pensioner “ grizzlies “ out there who I known struggle at this time, but remember just paying taxes for a lifetime does not entitle receipt of the Pension. The Govt no has self generating income it is funded by todays taxpayers. I willingly give my funding. Please be grateful.

I was once like you working hard thinking of retirement..........well I am now RETIRED on the pension and now understand the "grizzlies" as you put us, We did willingly give our tax for our future.

 

[alyn6652]

IF I was to win a huge Lotto I would gladly give up my pension........how many people who are pensioners who have been so lucky, given up their pension. Even declared such a thing!!!!!!!!

 

[NotPhilips]

IF I was to win a huge Lotto I would gladly give up my pension........how many people who are pensioners who have been so lucky, given up their pension. Even declared such a thing!!!!!!!!

If anyone had a huge win, like Lotto or an inheritance, wouldn't that put them over the assets limit?

 

[Kerro]

I would be happy as a pensioner if they would help with Electricity Gas and Water. I don't mean just a one off as is current with the electric but as a pensioner who worked all my life and , through where I worked, paid enormous taxes, should be at least cut in half, always. Lord knows we don't get much as it is, so every bit helps.

 

[[email protected] in]

Pensions are an important part of many people's retirement planning, and it's crucial that they keep up with inflation.

Unfortunately, pensioners have been feeling the pinch in recent years, as the cost of living continues to skyrocket.

In a recent speech, Treasurer Jim Chalmers assured the public that the federal government is determined to make sure that pensioners don't fall further behind as inflation rises.

With inflation currently at 5.1% and forecasted to rise by the end of the year, Mr Chalmers said that a half-yearly indexation increase for pensions is slated to take effect on September 20.

It should be noted that age pension rates increased in March by $20.10, to $987.60 each fortnight — or $25,677.60 annually — for single pensioners, while the joint maximum rate for elderly couples rose by $30.20, to $1488.80 per week or $38,708 per year.

Mr Chalmers promised to provide an update on the government's projections for inflation, growth, and salaries when the new parliament session commences in late July.

The Treasurer said that the federal government will discuss the possible increase in pension payments once the new parliament session commences in late July. Credit: AAP.​

He said: “The shape of the challenge to inflation will get worse before it gets better but it will get better."

“We understand that pensioners are doing it incredibly tough when it comes to their costs of essentials like groceries, electricity and petrol and in other parts of the household budget."

“We don’t want to see pensioners fall further and further behind. And that’s why this indexation which tries to keep up with the skyrocketing cost of living is so important.”

Additionally, economists are expected to keep an eye on important data to see if Australia's construction activity has fallen further once key figures are released.

The Australian Bureau of Statistics is set to release the construction activity report for the March quarter on Wednesday. It will include estimates of the number of new homes and "work yet to be done."

The figures for the first quarter of 2022 is expected to be impacted by a decline in the industry at the end of 2021, with the number of new private sector homes being built decreased by little more than 10%, while the overall number of housing unit commencements declined by 13.5% in the December quarter.

All in all, the total cost of construction work decreased by 1.6% to $30.3 billion.

This week will also see the release of employment statistics, with most experts predicting that the unemployment rate will drop from 3.9% to 3.8% — its lowest level since 1974.

So, there you have it, folks! We want to hear your thoughts on this. Do you think it's time for the federal government to prioritise the increase of pension payments in its budget agenda? Share your insights with us in the comments below.

PEns