Pension, welfare payments boosted from today

By admin On Mar 20, 2023

Nearly five million Australians will receive a major increase to their pension and allowance payments from today following an indexation.

Recipients of the Age Pension, Disability Support Pension and Carer Payment can expect an increase of $37.50 a fortnight for singles and $56.40 a fortnight for couples combined.

The maximum fortnightly rate of the pension will increase to $1064 for singles and $1604 for couples, including the pension and energy supplements.

Centrelink signage in Redfern in Sydney — Pension and welfare payments will rise from today. (Dylan Coker / SMH)

Single JobSeeker and ABSTUDY recipients aged over 22 and without children will receive an extra $24.70 per fortnight.

Each member of a couple receiving the payments will receive a $22.50 increase per fortnight.

Single parents receiving the parenting payment will benefit from an extra $33.90 a fortnight.

Single parents receiving the Parenting Payment will also benefit from an additional $33.90 a fortnight, with the rate increasing to $967.90 including the Pension Supplement, Pharmaceutical Allowance, and Energy Supplement.

Single recipients of the maximum rate Commonwealth Rent Assistance without children can expect to see a $5.60 increase to $157.20 per fortnight.

People receiving the maximum rate who have one or two children will see a rise of $6.58 to $184.94 per fortnight, while those who have three or more children will receive an increase of $7.42 to $208.74 per fortnight.

Aldi Saving kitchen costs — The federal government said the indexation of pension and welfare payments will help vulnerable Australians during the cost of living crisis. (Getty)

The indexation of social security payments will bring cost-of-living relief for 4.7 million people.

Social Services Minister Amanda Rishworth, said the government was supporting Australians most in need.

“Australia’s social security system exists to support our most vulnerable citizens, and we know they are feeling the pinch,” she said.

“Indexation is a pillar of our social security system and we want more money in the pockets of everyday Australians so they can better afford essentials.

“The increase is an important part of the system and helps those doing it toughest.”

The next indexation of welfare payments will take place in September.