From 1 July 2022, for single pensioners, the pension income test free area is $190 a fortnight and for couples combined, it is $336 a fortnight. This means a single pensioner over Age Pension age with no other private income could earn up to $490 a fortnight from work and still receive the maximum rate of pension.
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.
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.
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.
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.
Most people on a weekly social welfare payment will get a double payment in the week beginning 17 October 2022.
The State Pension rose by 3.1% in April 2022, as confirmed in the Autumn 2021 Budget. This will affect you whether you're eligible for the new flat-rate State Pension, which was introduced in April 2016, or the older basic State Pension.
Qualifying means-tested benefit recipients will receive three payments totalling £900. Disability and Pensioner Cost of Living Payments will remain the same in cash terms as those provided in 2022/23.
The COVID-19 Disaster Payment is a one-off cash payment for a lockdown lasting at least seven days and each period of lockdown thereafter. Those who are missing out on less than 20 hours of work can receive $325. If they've lost more than 20 hours of work over the lockdown period, they're eligible for a $500 payment.
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.
Chancellor confirms triple-lock 10.1% increase in State Pensions from April 2023 - CSPA.
The Christmas bonus 2022 is a one-off tax-free £10 payment paid to people who get certain benefits. Those eligible for the payment should expect to receive the money from the Department of Work and Pensions (DWP) before Christmas. Here is more information about the bonus.
Latest Age Pension rates (from 20 September 2022)
Single: $1,026.50 per fortnight (approximately $26,689 per year) Couple (each): $773.80 per fortnight (approximately $20,119 per year) Couple (combined): $1,547.60 per fortnight (approximately $40,238 per year)
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%.
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.
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Eight million pensioner households will get a £300 Cost of Living payment in late 2023. The £300 payment will be made on top of Winter Fuel payments, which in late 2022 were made to nearly every pensioner who turned 66 born before September 26, 2022.
Tax Credits
You may get a Low Income Cost of Living Payment of £650, paid in two instalments of £326 and £324, if you have an award for either of the following: Child Tax Credit. Working Tax Credit.
You may be able to get £650 if you get: Universal Credit. income-based Jobseeker's Allowance (JSA) income-related Employment and Support Allowance (ESA)
To receive the standard Winter Fuel Payment and this year's Pensioner Cost of Living Payment, you must be over State Pension age (aged 66 or above) between 19 and 25 September 2022.
In April 2022, there was a 3.1% increase in the full new state pension. Whether you actually get the full amount is based on your national insurance record when you reach state pension age. You will only receive the full amount if you have a minimum 35 full qualifying years of contributions.
If you're a pensioner
If you get the Winter Fuel Payment, you will also receive an extra one-off £300 Pensioner Cost of Living Payment, which will be paid as an automatic top-up to the Winter Fuel Payment. Check if you're eligible for the Winter Fuel Payment on the government's website.
Disability and illness payments
People getting Disability Allowance, Invalidity Pension or Blind Pension will get a once-off payment of €500 (November 2022).
When you claim a Pension Bonus, generally you must be an Australian resident and in Australia. You must work at least 960 hours during each 12 month period to pass the work test. We call this a bonus period. Only accruing membership can count toward your Pension Bonus.
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.