The payment rates for Age Pension, Carer Payment and Disability Support Pension are increasing from 20 March 2023. Age Pension, Carer Payment and Disability Support Pension will increase by $37.50 a fortnight for singles and $56.40 a fortnight for couples combined.
Latest Age Pension changes (from 20 March 2023)
From 20 March 2023 the maximum full Age Pension increases $37.50 per fortnight for a single person, and $28.20 per person per fortnight for a couple. Note: Annual amounts are approximate. The figures above include the pension and energy supplements.
From 20 March 2023, some veterans and their families will receive an increase to their pension payments in line with increases in the cost of living. You don't have to do anything to receive the increase, it will be automatically included in your next payment.
From 10 July 2023, if your family earns under $530,000, you'll get increased Child Care Subsidy (CCS). The CCS percentage you're entitled to depends on your family's income. The income limit to get the maximum CCS is increasing. Families earning up to $80,000 will get an increased maximum CCS amount, from 85% to 90%.
The Order is currently linked to the Consumer Prices Index (CPI) and is based on CPI as at the previous September. CPI at September 2022 was 10.1% which means that your pension will increase by 10.1% from 10 April 2023.
The payment rates for Age Pension, Carer Payment and Disability Support Pension are increasing from 20 March 2023. Age Pension, Carer Payment and Disability Support Pension will increase by $37.50 a fortnight for singles and $56.40 a fortnight for couples combined.
As CPI results in a higher increase, DFRDB/DFRB pensioners over the age of 55 will receive an increase of 3.6% for January 2023.
The Work Bonus income bank is useful for pensioners who wish to work, particularly those who undertake intermittent or occasional work. Note: from 1 December 2022 to 31 December 2023, a one-off, temporary credit of $4,000 applies to Work Bonus income bank balances.
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.
Your child turning 18 or stopping school may affect Family Tax Benefit (FTB), child support and their eligibility for payment. When your child turns 19, your eligibility for Family Tax Benefit (FTB) stops.
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.
Can I Get the Pension if I Have Super? Having superannuation savings does not deny you from receiving Age Pension payments. Eligibility for the Age Pension is based on an Assets Test and an Income Test.
You can get the Work Bonus if both of these apply to you. You: are Age Pension age and over. get Age Pension, Carer Payment or Disability Support Pension.
The Government has provided two separate $750 payments to social security, veteran and other income support recipients and eligible concession card holders. Around half of those that benefit are pensioners. These payments will support households to manage the economic impact of the Coronavirus.
A one-off $250 Cost of Living Payment will be paid to eligible recipients from the end of April 2022. The Cost of Living Payment is a one-off payment of $250 for eligible payment recipients and concession card holders.
The cash boost comes as part of a twice-yearly indexation of welfare payments, driven higher by rising cost of living. From March 20, the maximum fortnightly pension rate will jump to $1064 for singles and $1604 for couples.
The Government announced on 1 February 2022 that an aged care workforce bonus of up to $800 will be paid to eligible aged care staff in Government subsidised home care and residential care.
Pensioners To Receive $4,000 Boost To Centrelink Payments Until December 2023.
If you lodge a claim after you reach your Age Pension age (because you were still working or forgot to apply), Centrelink will not back pay when you reached Age Pension age (only to your claim submission date).
Age Pension is the most common income support payment available for people aged 65 and over (referred to as older Australians). It is paid to people who meet certain requirements, such as age and residency, and is subject to income and asset testing.