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.
Pension members to receive up to 5.3% increase
The movement in the CPI (All Groups Sydney Index) from 30 June 2021 to 30 June 2022 was 5.3%. The adjustment rate for State Super pensions is therefore 5.3% for this year.
DWP benefits that are linked to inflation rise by 10.1% in April 2023, as do the basic and new State Pension. Inflation-linked tax credit elements and benefits administered by HMRC are also expected to rise by 10.1%.
From 1 July 2022, the deeming threshold for a single pensioner will be $56,400 (up from $53,600) and for couples the threshold will be $93,600 (up from $89,000). While these changes are incremental, they will result in real increases in pension payments.
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.
From 20 September 2022 the maximum full Age Pension increases $38.90 per fortnight for a single person, and $29.40 per person per fortnight for a couple.
Most people on a weekly social welfare payment will get a double payment in the week beginning 17 October 2022.
It has been confirmed that the State Pensions and benefits will be increased by 3.1 percent next year.
Lower-income pensioners who claim pension credit will receive the money in addition to the £650 support for those on benefits. This means a small group of pensioners with disabilities will receive a total of £1,500.
Pension increase. 2022's 3.1% increase to pensions is based on the Consumer Price Index (CPI) on 30 September in the previous year.
The CPI index for the year up to September 2022 was 10.1%, therefore an increase of 10.1% will apply to pensions in payment from 10 April 2023.
Almost 5 million Australians will receive an increase in welfare payments from 20 September 2022. The Federal Government has announced the largest indexation increase to pensions in 12 years, while other welfare payments will see the highest rise in more than three decades.
Age Pension, Disability Support Pension and Carer Payment are all set to rise by $38.90 a fortnight for singles and $58.80 a fortnight for couples.
Chancellor announces £300 fuel payment for pensioners and £400 energy discount for all households. Britons aged 65 and over are to be given an extra £300 winter fuel payment as part of the Chancellor's cost of living rescue package.
Means-tested benefits claimants, including those receiving Pension Credit, Universal Credit and tax credits, will receive £900 in 2023-24 to help with the rising cost of living. The exact dates when payments will be made are yet to be confirmed.
2.5%. So, the State Pension increases by at least 2.5% each tax year. It's designed to help preserve the spending power of pensioners as the cost of goods and services can change dramatically during your retirement. The exception to the pension triple lock was the 2022/23 tax year.
In the 2022 Autumn Statement, the Chancellor confirmed that the triple lock will be reinstated from April 2023. This means the State Pension will rise in line with September's inflation rate – 10.1% – in the 2023-24 tax year.
The State Pension rose by 3.1% in April 2022, as confirmed in the Autumn 2021 Budget. This will affect you whether you're eligible for the new flat-rate State Pension, which was introduced in April 2016, or the older basic State Pension.
Disability and illness payments
People getting Disability Allowance, Invalidity Pension or Blind Pension will get a once-off payment of €500 (November 2022).
How and when do I get the DWP Christmas Bonus? You do not need to claim the payment, you should get it transferred automatically. All government benefits, pensions and allowances are usually paid into an account, eg. your bank account.
To get the $250 one-off Cost of Living Payment you must be a Centrelink or Department of Veterans'Affairs customer. You must have been residing in Australia on 29 March 2022 and either: you were able to claim, or were getting an eligible payment. you were able to get, or had an eligible concession card.
The government age pension usually increases in March and again in September. Thresholds for income and assets test are indexed in March, July and September. Super income stream minimum drawdowns are reviewed every July.
Supports for pensioners
The allowable means will be €500 per week for a single person and €1,000 per week for a couple.
Youth Allowance, Austudy, Abstudy and DSP and some other miscellaneous payments will increase from 1 January 2023. The full schedule of indexation adjustments is here.