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. You don't have to do anything to receive the increase, it will be automatically included in your next payment.
Latest Age Pension changes (from 20 March 2023)
Single: $1,064.00 per fortnight (approximately $27,664 per year) Couple (each): $802.00 per fortnight (approximately $20,852 per year)
Full Age Pension income threshold increases by:
Singles threshold $204 per fortnight, increase is $14 per fortnight, $364 per annum. Couples threshold $360 per fortnight, increase is $24 per fortnight, $624 per annum.
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.
The payday on 22 September 2022 is not affected as it reflects pension entitlements for the period 6 September to 19 September 2022. The maximum rate of single Service Pension has risen by $38.90 to $1,026.50 per fortnight and the maximum rate for couples has increased by $29.40 to $773.80 per fortnight (each).
Introduction. 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.
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.
This measure will start on 20 September 2023. Relevant payment rates will also be indexed on 20 September 2023.
From 10 July 2023, there are changes to Child Care Subsidy for Aboriginal and Torres Strait Islander children. The changes mean they can get at least 36 hours of subsidy per fortnight, regardless of their family's income or activity level.
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 Government also announced that a higher JoSeeker rate that applies to some people aged 60 or older will now be extended to those aged 55 and older, giving them an extra $92.10 per fortnight if they have been on JobSeeker for nine months or more.
We have decided that award rates of pay will be increased by 5.75 per cent effective from 1 July 2023.
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.
You'll get the Carer Supplement each year for as long as you remain eligible. We'll assess your eligibility for Child Disability Assistance Payment separately. The supplement is up to $600 each year for each eligible payment. You'll get this amount on top of your regular payment.
The eligibility age for Age Pension is increasing to 67 years on 1 July 2023. If you were born on or after 1 January 1957, you must be 67 years to be eligible for Age Pension.
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 have $300 of Work Bonus available each fortnight, which can accrue up to the maximum amount. When your Work Bonus eligible income is less than $300 a fortnight, we'll reduce your income to zero.
The Government has provided two separate $750 payments to social security, veteran and other income support recipients and eligible concession card holders. Around half of those that benefit are pensioners. These payments will support households to manage the economic impact of the Coronavirus.
Families (seniors and pensioners) will be increased from $51,401 to $53,406.
"The Australian Government is continuing to deliver tax relief, with a one-off payment of $250 to be made to eligible pensioners, welfare recipients, veterans and eligible concession card holders, to be paid automatically in April 2022," Mr Coleman said in his review of Budget 2022-2023.