About 1 million young people, carers and students will have their welfare payments boosted by up to $20 a week from January 1, 2023. The payments will by indexed by just over 6 per cent, it's been confirmed. WATCH THE VIDEO ABOVE: Major boosts for welfare payments.
The Age Pension, Disability Support Pension and Carer Payment rates will increase by $20.10 to $987.60 a fortnight for a single person and by $30.20 to $1,488.80 a fortnight for a couple. The federal government is also increasing the asset test to allow more people access to a part pension.
This means pensioners will be able to work more without losing out on their pension, either in short stints or over the course of a year. The maximum Work Bonus balance will increase from $7800 to $11,800. The changes are expected to remain in place until December 31, 2023.
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.
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.
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.
Eligible pensioners will receive a one-off $4,000 boost to Work Bonus balances from 1 December, 2022. The $4,000 bonus will lift the income cap lift from $7,800 to $11,800 for eligible pensioners.
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 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.
The lowest advance you can get is $250. The highest advance you can get is $500. We can pay the advance all at once.
So today, automatically, there's an extra $4,000 credited. "It means that pensioners over the next 12 months will be able to do extra work without having their pension affected." The increased Work Bonus income bank will be in place until December 31, 2023 and is available to pensioners over the age pension age.
Families with children aged 4 to 13 years that attend a primary school in NSW can receive a $500 voucher per child to reduce the out-of-pocket costs of before and after school care. This includes children who are starting kindergarten in 2023.
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.
Most people on a weekly social welfare payment will get a double payment in the week beginning 17 October 2022.
Payments will increase by 6.1% from 1 January for people receiving youth allowance, Austudy and carer payments. The increase is part of a routine adjustment to keep up with increases in the consumer prices index.
Background. The 2020 ESP provides 2 payments of $750 to eligible payment recipients and concession card holders. These payments are intended to address economic impacts of the global coronavirus.
You will get this Pensioner Cost of Living Payment as well as any Cost of Living Payment you may receive with your qualifying benefit or tax credits. People will be eligible for this payment if they are over State Pension age (aged 66 or above) between 19 and 25 September 2022.
If you're eligible, you should get the $250 payment by 14 December. This payment will appear in your Centrelink online account or the app 48 hours before it arrives in your bank account. If you're eligible we'll pay you automatically. You don't need to call.
The Cost of Living Payment is a one-off payment. It's not taxable and you don't need to report it as income for income support purposes. To get it, you must be a Centrelink or Department of Veterans' Affairs (DVA) customer.
The DWP has confirmed that people will receive the next cost of living payment in spring 2023, although exact dates will only be released “closer to the time”. This initial payment will be £301. A second cost of living payment of £300 will be made in autumn, and a third of £299 will be paid in spring 2024.
Chancellor confirms triple-lock 10.1% increase in State Pensions from April 2023 - CSPA.
The government has announced when further Cost of Living Payments will be made between spring 2023 and spring 2024. These payments are: up to £900 for people on an eligible low income benefit. £300 for pensioner households.
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%.