Starting tomorrow, Centrelink recipients across Australia will experience significant payment boosts due to indexation changes. This adjustment will benefit over five million people, including pensioners, renters, and job seekers.
Key Details of the Payment Increase
Date of Effect: The indexation changes will take effect on March 20.
Affected Groups: Over 5 million Australians will see an increase in their Centrelink payments, including those receiving the Age Pension, Disability Support Pension, Carer Pension, Parenting Payment, and JobSeeker Payments.
Annual Payment Increase: Combined with previous indexation over the last three years, recipients will see an additional $3913 to $5902 annually, depending on their eligibility. This represents a substantial improvement in their financial support since the Labor government took office in 2022.
Breakdown of the Payment Adjustments
For JobSeeker Recipients
- Annual Increase: Between $3374 and $5038 annually due to the new indexation.
Pension Payments
- Single Pensioners: Those receiving Age Pension, Disability Support Pension, or Carer Pension will receive a $4.60 increase to their fortnightly payment, bringing the new amount to $1149.
- Partnered Pensioners: The maximum rate for partnered pensioners will increase by $3.50, bringing their payment to $866.10 per fortnight. For pensioner couples combined, the payment will rise by $7, totaling $1732.20 per fortnight.
Parenting Payment Single Recipients
- Fortnightly Payment Increase: Recipients will see an increase of $4, bringing their total fortnightly payment to $1030.30. This includes the pension supplement, pharmaceutical allowance, and energy supplement.
JobSeeker Payment for Singles Aged 22 and Over
- Fortnightly Payment Increase: A $3.10 increase to their payments will raise the fortnightly total to $789.90, which includes the energy supplement.
JobSeeker for Couples and Other Recipients
- For each person in a couple on JobSeeker payment, ABSTUDY (aged 22 and over), or Parenting Payment Partnered, there will be an additional $2.80 per fortnight, increasing the fortnightly rate to $723, including the energy supplement.
Minister’s Statement
Minister for Social Services, Amanda Rishworth, highlighted the significance of these changes, emphasizing that indexation is a vital element of Australia’s social security safety net.
She stated, “For pensioners and other payment recipients receiving this financial boost, this will help ease some pressure,” further emphasizing the importance of the changes for Australians at every stage of life.
The indexation changes set to take effect on March 20 will provide a vital financial boost to millions of Australians. Whether you’re receiving a pension, JobSeeker payments, or Parenting Payments, these changes will help improve the financial stability of many individuals and families. These adjustments are a crucial part of Australia’s social security system, offering support to those who need it most.
FAQs
When will the Centrelink payments increase?
The payment increases will take effect on March 20.
How much will the JobSeeker payment increase?
JobSeeker recipients will see an annual increase of between $3374 and $5038 depending on their circumstances.
How much will pension payments increase?
Single pensioners will receive an extra $4.60 per fortnight, while partnered pensioners will receive $3.50 per fortnight for single recipients and $7 for couples combined.
How much will the Parenting Payment increase?
The Parenting Payment for singles will increase by $4 per fortnight, bringing the total to $1030.30.