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.
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%.
How much will the state pension be from April 2023? The state pension is set to increase by more than 10% in April 2023.
Almost 5 million Australians to get a boost to 2022 Centrelink payments. Almost 5 million Australians who get the Age Pension or other Centrelink payments will get a boost to their social security entitlements from 20 March.
Most people on a weekly social welfare payment will get a double payment in the week beginning 17 October 2022.
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.
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.
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 tables below provide more detail in terms of the latest increase and how the Age Pension is broken down.
The government has committed to reinstating the triple lock for 2023-24. The move has understandably left many currently receiving the state pension confused as to what all of this actually means for their retirement income.
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.
In line with indexation, Age Pension payment rates increase twice-yearly. Between 20 September 2022 and 19 March 2023, the following fortnightly Age Pension payment rates apply.
Chancellor confirms triple-lock 10.1% increase in State Pensions from April 2023 - CSPA.
Seniors aged 75 and over will see an automatic 10% increase of their Old Age Security pension, as of July 2022.
The latest change announced was a 3.1% rise which came in with the new tax year – starting on 6 April, 2022.
Single: $772.40 per fortnight (approximately $20,082 per year) – an increase of $29.70 per fortnight. Couple (each): $645.60 per fortnight (approximately $16,786 per year) – an increase of $24.80 per fortnight.
The latest figures from the Office for National Statistics revealed that the Consumer Prices Index (CPI) increased by 10.1 per cent in the 12 months to September 2022, meaning that pensioners would be in store for a record increase under the state pension triple lock.
Couple (each): $645.60 per fortnight (approximately $16,786 per year) – an increase of $24.80 per fortnight. Couple (combined): $1,291.20 per fortnight (approximately $33,571 per year) – an increase of $49.60 per fortnight.
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.
You can get up to $600 for each person you provide care for. You won't be eligible for Carer Supplement if you get Age Pension. But you will get Carer Supplement for each person you get Carer Allowance for.
The amount you'll get includes a 'Pensioner Cost of Living Payment'. This is between £150 and £300. You'll only get this extra amount in winter 2022 to 2023. This is in addition to any other Cost of Living Payments you get with your benefit or tax credits.
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.
There is no need to apply for it and all people need to qualify is to be over the state pension age of 66 in the qualifying week of 19 to 25 September 2022 and to be in receipt of the WFP.
Disability and illness payments
People getting Disability Allowance, Invalidity Pension or Blind Pension will get a once-off payment of €500 (November 2022).