The payment rates for Age Pension, Carer Payment and Disability Support Pension are increasing from 20 March 2023. Age Pension, Carer Payment and Disability Support Pension will increase by $37.50 a fortnight for singles and $56.40 a fortnight for couples combined.
From 20 March 2023, some veterans and their families will receive an increase to their pension payments in line with increases in the cost of living.
Latest Age Pension rates (from 20 September 2022)
From 20 September 2022 the maximum full Age Pension increases $38.90 per fortnight for a single person, and $58.80 a fortnight for a couple.
From 1 July 2023, Age Pension age will be 67 years, if you were born on or after 1 January 1957.
The payment rates for Age Pension, Carer Payment and Disability Support Pension are increasing from 20 March 2023. Age Pension, Carer Payment and Disability Support Pension will increase by $37.50 a fortnight for singles and $56.40 a fortnight for couples combined.
On January 1, 2023, around 1 million Aussies on Centrelink saw their payments rise by roughly $20 a week. Young people, carers and students received a 6 per cent increase on the first day of the year when the most recent indexation kicked in.
The Work Bonus income bank is useful for pensioners who wish to work, particularly those who undertake intermittent or occasional work. Note: from 1 December 2022 to 31 December 2023, a one-off, temporary credit of $4,000 applies to Work Bonus income bank balances.
If you're a pensioner currently receiving support through Centrelink, you may be eligible for extra help with bills and medicine costs through the Pension Supplement. This supplement is a combined payment of Pharmaceutical Allowance, Utilities Allowance, GST Supplement and Telephone Allowance.
Aussies who compare energy providers will receive a one-off $250 payment, as part of a new NSW election promise. NSW households will receive a $250 cost-of-living payment for comparing energy providers, if the Coalition is re-elected in March.
From 20 March 2023 the maximum rate of the single age pension will rise by $37.50 per fortnight (taking the single age pension from $1026.50 to $1064) and for couples, by $56.40 per fortnight (taking their payment from $1547.60 to $1604 combined).
But after widespread speculation, it has now been confirmed that all JobSeeker recipients will see their payments go up by $40 per fortnight, as well as those on Youth Allowance, Austudy and other income support payments.
This measure will increase the base rate of working age and student payments, including JobSeeker Payment*, Youth Allowance, Parenting Payment (Partnered), Austudy, ABSTUDY, Disability Support Pension (under 21 without a dependent child), Special Benefit and Farm Household Allowance by $40 per fortnight, in recognition ...
Australian Bureau of Statistics. (2023, May 17). Annual wage growth increases to 3.7% in March quarter 2023.
The Order is currently linked to the Consumer Prices Index (CPI) and is based on CPI as at the previous September. CPI at September 2022 was 10.1% which means that your pension will increase by 10.1% from 10 April 2023.
The Cost of Living Payment is a $250 one-off payment to help with the cost of living. The Cost of Living Payment is not taxable, and you don't need to report it as income. You'll get it if you were residing in Australia on 29 March 2022, and: you were able to claim, or were getting an eligible payment.
You can get up to $600 for each person you provide care for. You won't be eligible for Carer Supplement if you get Age Pension. But you will get Carer Supplement for each person you get Carer Allowance for.
The Government announced on 1 February 2022 that an aged care workforce bonus of up to $800 will be paid to eligible aged care staff in Government subsidised home care and residential care.
This payment is for those who start studying at any point in the year immediately after completing year 12 or equivalent. If you're eligible, you can only claim the Tertiary Access Payment from January 1 to December 31 in your first year of tertiary study.
However, on 2 September 2022 the Prime Minister announced that Age Pensioners will be able to earn an additional $4,000 in the 2022–23 financial year before it affects their pension.
You can get the Work Bonus if both of these apply to you. You: are Age Pension age and over. get Age Pension, Carer Payment or Disability Support Pension.
The Government indexes some Centrelink payments to bring them in line with inflation twice a year — once in March and once in September. These increases maintain the real value of the payments but they do not provide an increase in the purchasing power of households relying on the payments.
Centrelink payments for many, including carers and students, will have their payments boosted from January 1. The payments will be indexed, rising just over 6 per cent. This means the Youth Allowance rate will go up by at least $19 a fortnight.